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Music Marketplace Features by NFT Marketplace Website Developer

Music Marketplace Features by NFT Marketplace Website Developer

The trading of non-fungible tokens has broken all records. The music industry too has shown interest in the NFT domain with artists pre-releasing their albums on various NFT marketplaces. In March 2021, Kings of Leon sold multiple NFTs of his album “When You See Yourself”, which collected around $2 million. 

Let’s see some of the top features of an NFT Music Marketplace as suggested by NFT Marketplace Development Services Providers:

Musicians Dashboard

Artists first create an account on the NFT marketplace, once their account is verified and approved, They get numerous options like conducting concerts, doing live performances, uploading tracks, etc.

Filters and Advanced Search Features

While building the marketplace, the NFT Marketplace Website Developer must ensure that there are filters so that users can make relevant music NFT searches- they should be able to choose genre, search by name or the artist, etc.

Subscription Plans

The marketplace can allow musicians to sell their music to fans on a subscription plan. There can be different subscriptions like silver and gold and cost of every subscription model is different.

Royalty Splitting

Two artists can come together to make an NFT for a concert. Smart Contract is helpful in making the union possible and both can make most out of it. They will receive the proceeds of the sales as well as future royalties of the NFT sale. 

Listen and Bid

The listen and bid feature allows singers to upload their files and the potential buyers can first play the track and listen to it and participate in auctions.

Wrapping Up

With the success of NFT music marketplaces, many entrepreneurs are looking for White label NFT marketplace development services to benefit from the music NFT marketplace.

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