Musomatic is an NFT marketplace for musicians and fans. We aim to uplift musicians by enabling them to create NFTs of their music and provide them with royalties and recognition that they deserve.
The music industry is in a state of flux. The demise of the vinyl disks and rise of digital downloads in favour of online music streaming has significantly strangled profits, particularly for the artists themselves.
Musicians are struggling to make sense of the mess that is royalty distribution in its present form and find it difficult to keep a fair share of the revenue they generate on existing platforms.
With or without the buzz, one of the most powerful and overlooked impacts of NFTs is on the music industry. NFTs have the power to change the game for independent artists by providing a new way to earn an income (while connecting with fans), and this kind of change has been long overdue.
Musomatic helps fans connect on a deeper level with their music idols. The chat feature of Musomatic makes it possible so that fans have the opportunity to make one-on-one connections with their idols by chatting and engaging in the musician’s own fan community. Musicians can also take suggestions and inspiration from their top fans along the way.
It is true that the main objective of a musician is to expand their audience, but they still require monetary support along the way. Our platform enables artists to get this support. Also, it doesn't matter if you're a bathroom singer, growing YouTube/Instagram star, or a famous musician. Anyone can create NFTs of their music!
Most of the team members didn't know about web3 before this hackathon and got acquainted with it during the hackathon period.
It was challenging to integrate our chat system with the blockchain. Also, creating chat rooms for all NFT holders of a musician was a hard task. We now provide private and public chat rooms to the users.
The thing that required the most brainstorming was that how can we verify if someone is the original creator of a song. This was important because if we didn't implement such a system, then anyone can create NFTs of other people's songs (Eg. John can create an NFT of Justin Bieber's song). The solution that we found out was using ISRC codes to verify ownership of a song. ISRC codes of songs are only available to musicians from their music distributors. So, nobody else can upload a fake song to create its NFT.
Writing Solidity code covering all the edge cases was a bit challenging, but we made sure our platform is secure to use.
Also, there were hurdles related to UI and UX during the journey, but our dedicated developers handled them pretty well. 😉