Rarify nft7/12/2023 ![]() This is achieved through several core components of the product: Rarify is an API platform that enables businesses to build NFT products with a simple developer and user experience. To enable gaming, marketplaces, and other innovative platforms to quickly and scalably ship NFT products, Rarify offers the API-based platform that functions as the bridge between the application layer and blockchains using a single, developer-friendly integration interface. Plus, for end-users, applications directly built on blockchains can be difficult to use, which reduces adoptions. It could be gaming companies introducing NFT-based assets, marketplaces expanding into supporting digital assets, or consumer companies launching NFT collectibles, NFTs represent a ripe field of opportunity across an expanding number of industries.īuilding an NFT-compatible platform is quite difficult for a few reasons: supporting blockchain protocols requires specialized technical expertise, different blockchains lack interoperability and come with platform-specific economies, and companies lack familiarity with these standards. ![]() You’re already letting everybody listening to it for free, so why not add the NFT into that mix? It just fits perfectly.Īrtists who are interested in minting an NFT on GhostMarket are encouraged to visit With a Phantasma wallet, public address key, and proof they’re making music, an artist will be given 101 KCAL and three SOUL, enough to mint five NFTs and reserve a username.Rarify’s mission is to significantly lower the barrier to entry for NFT technology and enable platforms to participate in an explosive economy. With music, it’s kind of already that way with streaming. The idea with NFTs is that everyone can listen to it, but only can own it. In my NFT, I put in links to YouTube and Spotify to listen to the song. However, Geneste and Goplen see NFTs as supplementary to current distribution platforms and services. The royalty will distribute that fee to the creator from any future sales of the NFT, creating a new revenue stream for the artist. GhostMarket allows artists to bake in a royalty fee when minting an NFT. For so long, we treated music as a commodity, one unit of streams, equal to one unit. And that’s where the real magic can come in. That makes the extremely rare, like a painting. Goplen described the thought process behind the recent minting of one unique NFT for a song: ![]() Throughout the interview, the duo repeatedly referenced the power NFTs put back into the hands of artists. He touted it gave him the ability to maintain rights to his content and rarify the song to increase its value as a limited edition item. In the livestream, Goplen shared his experiences creating an NFT based on a single song and auctioning it on the GhostMarket platform. This can give musicians more control over distribution and sales. The creator determines the amount of the asset to make available, minting as few as one NFT or as many as they’d like. For example, musicians can create NFTs for a song or album by including the content, cover art, and a brief description. It is a way of digitizing asset ownership. In recent months, GhostMarket launched the uMint NFT Factory that allows users to simply mint custom NFTs.Īn NFT is a unique digital item, comprised of code representing an asset on the blockchain, such as a piece of art or a song. GhostMarket is pioneering the NFT space by building a platform that supports multiple networks, something that doesn’t currently exist on the market. GhostMarket is an explorer and NFT marketplace that offers cross-chain support for the Neo and Phantasma blockchains. The two talked about non-fungible tokens as an alternative method to derive revenue from a musician’s song. GhostMarket founder, Vincent Geneste, and musician, Jesse Goplen, recently joined the Music Entrepreneur Club livestream to discuss the NFT marketplace. GhostMarket’s NFT marketplace offers artists new methods to distribute content and novel ways to interact with fans.
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