The problem NFT-Beats solves

For music artists and composers, earning music royalties is a circuitous process in the current scenario. In recent years, widespread streaming has made it harder for many musicians to make money from their recordings. In addition to that, live touring is also down for the count due to the pandemic.
NFT Beats is a decentralized platform that allows music artists and composers to tokenize their work as Non-Fungible Tokens or NFTs. This assigns a unique ownership for the content, which cannot be reproduced by anyone else. In the music world specifically, artists unable to tour have extra incentive to seek out new sources of revenue. Transactions using NFTs allow audiences to participate in auctions for unique content from the artists they love. NFTs for music is appealing to artists and fans since there are no middlemen involved in the transaction.
People can also bid on these tokens in sale/auction on the DApp. Artists can then raise money for the content they auction off and keep all proceeds as these exchanges do not involve a record corporation. Artists are looking for new ways to connect and produce for their audiences as the world becomes more digital, and NFTs provide them with a new outlet with various advantages.

The NFT-Beats decentralized application is built using Celo Blockchain and the smart contract is deployed on the Celo Alfajores Test Network. The off-chain data of the NFTs is stored in a decentralized manner on IPFS and Filecoin, with the help of NFT.storage. The Celo Extension Wallet is also used with the DApp to sign and send the transactions.

Music artists generally have to deal with many intermediaries in the music industry. Cryptocurrency transactions are safe and quick and since no intermediares are involved, there will not be any loss in revenue. As NFTs gain traction, more inventives and rewards methods can also be introduced for artists to profit from them.

Challenges we ran into

A major obstacle that we experienced was in storing the off-chain data of the NFTs. But then we integrated NFT.storage into our DApp to solve this issue and were able to conveniently store the data on IPFS and Filecoin. We also could not significantly improve the front-end of the DApp due to time-constraints.