The platform is coming into operation KickOff Musica creation of the founders of the music event Trends Brasil Conference and the Hathor Network, a Brazilian blockchain network. The project provides for the issuance of non-fungible musical tokens (NFTs) and fan tokens for artists’ promotional actions. And also that creators control the prices of their content, with the possibility of more earnings than in streaming, for example, says the company.
“From the vantage point we have from the conference, we realized that there was enormous potential for music creation in blockchain technology, particularly through NFTs,” said Luciana Pegorer, co-founder of KickOff Music.
According to Marcelo Pera, co-founder of KickOff Music, in the platform model, the artist is not a supporting player “in the offer of music as in the streaming model”. The platform already has, for example, the Rock Band, five cards, each with the sound of a rock band instrument. The instrument is pictured on an effect pedal.
The startup is using the Hathor Network blockchain, which Brazilian engineers developed. According to a statement, the network solves three dilemmas from previous networks. One of them is the low capacity of transactions per second (tps). Another two are the high operational costs and complexity of developing real projects.
Hathor has predictable fees
According to the company, both the token creator and the don’t need to know about cryptocurrencies or blockchain to trade the tokens. According to the release, there is price predictability of transaction fees, something that on networks like Ethereum, for example, has been an issue. Just like it works with all conventional means of payment, in addition to cryptocurrencies, but without the need for a crypto wallet.
“NFTs open up a sea of ​​opportunities for all agents and Kick-off is pioneering in showing how viable this technology is. We are very proud to accelerate this project”, said Gabriel Aleixo, New Business developer at Hathor Labs.
The company claims that its network also has a near-zero carbon footprint, as 99% of the processing comes from other networks. It is the shared mining engine. In practice, no one needs to turn on new machines for Hathor to work. Just use pre-existing resources.
According to KickOff, the music content went through the vinyl record and cassette tape stages. that of CD and DVD, the latter of which has incorporated the audiovisual into the physical product, and now streaming. In the previous two, there was a partial transfer of ownership, in the form of physical product and download. In the streaming phase, the model is an on-demand listening experience and less proprietary.
But, these models include multiple participants and the treatment of music as a commodity, that is, the more sold, the better. In the world of NFTs, what prevails is rarity, therefore, the value of the music, and less in between.