DecentraSound will consist of a marketplace to listen to music and offer users a financial benefit
LONDON, ENGLAND, October 18, 2022 /EINPresswire.com/ — DecentraSound is planning to change the music industry for artists and fans by enabling listeners to invest in world-class entertainment using a next-generation NFT infrastructure and a Web 3 solution.
The goal, said DecentraSound co-founder Oliver Hammond, is to accelerate the growth and adoption of the blockchain in the entertainment and music industries. “DecentraSound aims to become the next legacy brand that surpasses the likes of Spotify, Tidal and their counterparts, while also being the first business of its kind to enter the metaverse.”
Hammond said DecentraSound will consist of a marketplace and a place to listen to music that offers the end user a fun financial benefit. In addition, with DecentraSound, creators can take back control over their earnings, giving them the complete freedom to release whatever they want when they want. “Just artists growing organically with the support of their fans,” Hammond said.
The metaverse and virtual reality technology is estimated to be an $824 billion valuated industry by 2030.
Partnering with Hammond on DecentraSound is musician Ghetts, who in 2021 won a MOBO award, the annual British music award honoring achievement in “music of Black origin.”
DecentraSound will be launched with a highly anticipated 10,000 Utility Packed Collection of NFTs that are being created for both artists and investors. The DecentraSound NFT Collection is 10,000 uniquely attributed fashionable character collection created on the Ethereum blockchain. The NFTs have been created with more than 480 unique properties that have been hand drawn over months with many details and varieties.
The NFTs will have real world utility. Hammond said DecentraSound is developing many real-world use cases, including relationships with worldwide music events, hotels in 75 countries and fashion brands.
DecentraSound’s NFTs can also stop intermediaries from taking an artist’s money.
As Hammond explained, suppose a musician created a song and listed it within DecentraSound as an NFT, selling its ownership to fans for $30,000. The marketplace takes 15 percent, so the artist earns 85 percent, or $25,500. After a month, the fan resells it to another fan for $40,000. The artists makes $4,000 in royalties. The artist has made $29,500 from two transactions.
The NFTs make it possible for fans to make money by owning content that can appreciate with the creator and to directly invest in a creator’s success.
“Like stocks, NFTs and the DecentraSound ecosystem will allow fans to bet on the creator’s potential while enjoying what they are paying for in the form of music and a vast array of utility that may be attached to purchasing that art or music,” Hammond said.
As technology advances and DecentraSound continues to grow its liquidity, the platform will create its own space within the metaverse for its characters to be exported in. At this point DecentraSound will be more than just a NFT marketplace and spatial audio platform, but also a virtual entertainment company along the lines of Rockstar Games and Grand Theft Auto.
The DecentraSound metaverse will have the highest 3D rendering and computer graphics possible at the time of its metaverse development.
“At DecentraSound, we’re working to build a world where people, not companies, have complete control over their digital identity and content creativity,” Hammond said.
For more information and to get early access, visit DecentraSound.com.
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