{"id":5203,"date":"2021-06-02T11:18:35","date_gmt":"2021-06-02T11:18:35","guid":{"rendered":"https:\/\/tokpie.io\/blog\/?p=5203"},"modified":"2024-10-19T18:55:43","modified_gmt":"2024-10-19T18:55:43","slug":"trade-vinyl-token-nft-fm","status":"publish","type":"post","link":"https:\/\/tokpie.io\/blog\/trade-vinyl-token-nft-fm\/","title":{"rendered":"Trade Music: Discover VINYL Token and NFT FM Platform"},"content":{"rendered":"\n

You might be surprised, but nonfungible tokens (NFTs) are not only images and GIFs. Also, NFTs can be anything that you can store as data. So, for example, people can get music in NFT\u2019s format directly from artists, just like buying a vinyl record. So, it could be much better for people and musicians to buy and sell tracks directly in a decentralized way. Moreover, buyers could not just listen to music but also invest in that way. The good news is that a platform for such music trading already exists! Meet the NFT FM platform that connects music lovers and artists with the help of NFT technology. Please read below to learn about the NFT FM solution and its Vinyl token. Also, get a guide on how to trade VINYL tokens on the Tokpie exchange. <\/p>\n\n\n\n

Update<\/strong>: Project\u2019s website is not working.<\/p>\n\n\n\n

What\u2019s the NFT FM platform?<\/h2>\n\n\n\n

The NFT FM is a music distribution platform for artists and their fans. By using this platform, people can directly support the artists they love. Therefore, artists have complete control over how they distribute their music. Also, they receive 95% of all their sales on the NFT FM instead of 70% on Apple Music. Moreover, on NFT FM, musicians define the number of NFTs they want to create and the starting price. By allowing artists to develop their own NFTs with full-length audio tracks, the platform enabling musicians to put out unique versions, early releases, and exclusive pieces for their biggest fans.<\/p>\n\n\n\n

Now, the team already attracted several Artists, integrated with the Opensea, and verified Smart Contracts by auditors. Want to try? Get any NFTs on NFT FM now. As a result, you will obtain unique visual art that contains full-length tracks directly from a musician (screenshot below)\u2014owning such NFT grants you the exclusive ability to stream these fantastic songs at any time and resell it for a higher price. Soon, users will start getting full album NFTs, fill in public profiles, make On-Platform Resales, and use Credit Card Support. <\/p>\n\n\n\n

\"NFT
How Music NFT looks on the NFT FM platform<\/figcaption><\/figure><\/div>\n\n\n\n

Also, think about the following numbers. There were 72 million people who had purchased music records for $4.1 billion on Apple Music during 2020. But Apple charges a 30% commission while the NFT FM platform takes 5%.<\/p>\n\n\n\n

\"Number
Users growth on Apple Music<\/figcaption><\/figure><\/div>\n\n\n\n
\"Sales
Revenue growth on Apple Music<\/figcaption><\/figure><\/div>\n\n\n\n

What\u2019s the VINYL tokens?<\/h2>\n\n\n\n

The VINYL is an ERC20 token that allows voting on the NFT FM platform. Important to note that if you hold NFTs purchased on the NFT FM, you get a $VINYL token for free every month. The team plans to allocate 30% of the total token emission for such giveaways during the next four years.<\/p>\n\n\n\n