Non-fungible tokens (NFTs) stormed into the world with the purpose of tokenization of value accruing from lifestyle trends in culture, art, music, digital solutions, and even fashion. Coupled with the rise of cryptocurrencies, NFTs have become a force to be reckoned with as far as investments in digital assets go.
The sale of NFTs hit the $25-billion mark in 2021. The numbers reflect investors’ optimism around the likelihood they are here to stay. There are many blockchain-based platforms available today that are liberalizing access to NFTs and helping anyone with internet access to generate revenue with them.
If you are looking for similar platforms, consider checking out Klangaverse (KLG), Aave (AAVE), and Eos (EOS).
Klangaverse – Where Artists Produce And Distribute Music As NFTs
Built on the Binance Smart Chain, the decentralized music streaming protocol enables artists to produce and distribute music as non-fungible tokens while being paid directly in to their wallets in the form of cryptocurrencies. The platform is powered by robust public blockchain infrastructure and a host of niche decentralized technologies.
The Klangaverse network has its own native cryptocurrency token KLG that can be used for all transactional purposes like staking, yield farming, and earning rewards that users might encounter on the platform. Users can purchase the token on presale.
Klangaverse sets out to solve many existing challenges that currently plague leading streaming platforms. Artists will no longer have to worry about sharing the ownership of their work. The music that they produce is solely owned by them, that’s right and – with no third-party interference.
Next, a common gripe amongst artists is the disparity in compensation and lost royalties. With near certainty, artists who don’t hire royalties managers tend to lose out on royalties against the major music companies and record labels.
Klangaverse aims to eliminate these hurdles by building a decentralized music-sharing platform that ensures fair compensation for music artists by leveraging the potential of blockchain technology. The platform has a transparent and secure payment mechanism that makes sure that artists get their due rewards.
Music artists and fans can use the KLG Token to purchase NFTs while having to pay zero gas fees. This feature makes it an affordable music streaming tool for fans too. Klangaverse also has an exclusive ‘MUSIC KLUB’ forum where community members can engage in discussions and interact with like-minded individuals.
Moreover, on Klangaverse, artists will be able to raise funds for their projects. All they have to do is to release an album or song as an NFT and fans will be invited to bid on them. The mechanism creates both scarcity and demand, which ensures that artists get the best price for their work.
What’s more, is that there are rewards to be earned for participation too. For every NFT that is minted by an artist using the KLG Token, they will earn instant rewards. The artists can also share these rewards with their production teams. Meanwhile, the transaction fee charged by Klangaverse will go towards the platform’s development.
As part of its efforts to keep the token value stable when crypto prices are going down elsewhere, the platform has introduced a mandatory vesting period of two months for newly minted KLG Tokens. The tokens set aside for the Klangaverse team will also have a lock-in period of 12 months.
Aave – Cost-Effective And Seamless Cryptocurrency Lending
Aave is a decentralized open-source liquidity protocol that allows users to lend, and borrow cryptocurrencies. The blockchain-based network has its own native coin, AAVE, that can be used for transactional purposes like staking and yield farming. It follows a decentralized autonomous organizations-patterned governance structure wherein users can vote for any proposals pitched for adding new functionalities to the platform. Aave also offers a community-driven program called the Aave Grants DAO which finances ideas submitted by developers to help the platform evolve.
Eos – Powering Robust Digital Infrastructures
Eos is a high-performance blockchain network that helps developers deploy secure and compliant digital infrastructures. It also has a developer portal wherein developers can acquire new skills by accessing informative tutorials.
EOS is the native token launched by the platform and is used for transactional purposes such as staking and yield farming. By purchasing the EOS Token, users also get to participate in the platform’s governance and development.
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
Was this writing helpful?