Three music industry executives have come together to launch a ground-breaking platform, MusicArt, which uses cutting edge blockchain and NFT technology to revolutionise the way we appreciate music artwork, old and new.
By running on the BSV blockchain, MusicArt is primed as the industry frontrunner in terms of royalty payment systems and environmentally friendly operating systems. Using 10,000 times less energy than Ethereum, and beating out leading banking and financial systems, BSV enables MusicArt to work ‘On-Chain’ meaning that all NFTs and corresponding metadata are minted as STAS tokens stored directly on the blockchain, and also the artwork itself is stored on the blockchain.
This non-custodial service puts power back in the hands of users allowing them to trade directly from their wallets without the need for intermediaries. Built by Vaionex, MusicArt is the first NFT marketplace using TAAL’s STAS token technology, directly preventing loss of access to user’s art in the event that third-party hosts go down.
By operating on-chain, MusicArt is also able to pay out royalties instantly to creators and artists. Where other marketplaces manage royalties manually resulting in infrequent and random pay-outs, MusicArt users can be reassured by a reliable and secure payment system. Creators on the platform will earn income from initial sales of their NFTs, as well as instantaneous royalties (10-20%) on any resale on the service.
MusicArt is committed to opening up the world of digital trading to newcomers. By accepting a variety of cryptocurrencies and taking care of Gas fees for the user, the platform makes NFT dealing more accessible than ever.
Forward facing, MusicArt also employs BSV for its scalability. Managing up to 100,000 transactions per second, BSV far beats out the 30 per second on Ethereum and competing blockchains.
«In the rapidly developing world of NFT technology, MusicArt is looking forward not only in terms of the platform’s success but its effect on the environment. With MusicArt, creators can enjoy a reliable new revenue stream without the worry of consequence to the planet.» – Peter Ruppert, CEO MusicArt
The platform champions works from legacy and new artists alike. On launch, MusicArt boasts exclusive pieces from art rock icons. These include the works of contemporary music art pioneer Mike Dubois (The Grateful Dead, The Allman Brothers Band, Fleetwood Mac, The Rolling Stones), record sleeve legend Ioannis (Blue Oyster Cult, Deep Purple, Starship), and psychedelic photographer Karl Ferris (Eric Clapton, Cream, Jimi Hendrix).
The initiative is championed by Peter Ruppert, former Head of Music at MTV and independent consultant to major Music & Media companies; Jeff Golembo, who has held managerial positions at Sony and Universal and was formerly MD at MCA Records; Hugh Goldsmith, former RCA MD and Innocent Records Founder; plus Dirk Brockhausen PhD, Physicist, Developer, and Blockchain expert. MusicArt is launched in co-operation with ground-breaking innovative independent artist portals Jamma Music & Aurovine.