Inventory of NFT platforms: Mozik, NFTMart, Showcase, DeFine Art

NFT can be regarded as the closest and most grounded blockchain product to our lives. With the popularity of NFT, various NFT platforms have spurted up. There are only one kind of art such as Mozik, and some comprehensive ones such as NFTMart, Showcase, DeFine Art. The attribution of these projects is to use decentralized blockchain and tokenization to give art creators better benefits. The respective methods are slightly different. If we were creators, what platform would we choose to publish~?

Mozik

In the past few decades, as the Internet has changed the way we create and consume music, the music industry has also undergone tremendous changes. And new standards have emerged, which transfer control from the “top card” hands to the people’s hands.

But this shift is not unique to the music industry. In the digital age, almost any commercial transaction between buyers and sellers has undergone revolutionary changes. We can imagine how the newly opened cafeteria now uses tools such as TripAdvisor or Yelp! Enable consumers to evaluate and evaluate the business.

With this newly discovered power, the music industry needs to maintain a balance. Because these changes are responsible for the rise and fall of musicians, record companies, and businesses. The musician suddenly realized that getting rid of the business operation is accompanied by the arduous task of self-promotion and continuous innovation.

Consumers now seem to have found new ways to consume music without the need for media-planned filters or advertising supported by large companies. In turn, musicians need to understand and learn how to become their own boss to compete for these “attractions” on their own.

Pain points of the music industry

1. Most artists make very little money

Most music artists are willing to participate in this long competition and believe that it will eventually be rewarded. Unfortunately, for those who wish to develop their careers by releasing original music, this does not guarantee economic development.

Nowadays, music is everywhere and can be consumed more easily than ever. As a result, there are more and more new opportunities for musicians every day, and the music industry can also develop rapidly.

So why do musicians try to make money from it? If the Internet is portrayed as a revolution, why don’t artists profit from these changes?

A recent study by the Citigroup Group showed that artists received only 12% of the $43 billion in revenue generated through the music industry in 2017. According to statistics, although the entire music industry is still profitable, its main players, music artists who have contributed their talents, have been abandoned.

How much profit music artists make on Spotify, the largest music streaming platform, proves this fact again. The fee paid by the company to the right holder is between $0.006 and $0.0084. To earn $1,000 a month, you must be listened to at least 120,000 times. Moreover, this situation applies only when the artist is the sole right holder of the track, but this situation rarely happens.

2. Long-term trading has become history

In the past, promising musicians had more time to grow, try and even experience failure before taking a break. The record company will sign several records, and during that time, the artist has a chance to mature. Today, the music industry requires a complete track.

In addition, because music was not a big issue for money at the time, music studios and record companies sometimes bet on outsiders and innovators. This is how we met Frank Zappa and others.

3. Industry monopoly and paid promotion

Like any market dominated by a few key players, the music industry is still difficult to enter as an “outsider”.

For example, the popularity of SoundCloud rappers and the loss of popular songs prove that the Internet should democratize the entry and distribution of the masses. Nevertheless, gaining popularity and success depends to a large extent on luck, opportunity and extraordinary marketing.

So how will NFT disrupt the music industry?

NFT is stored on the blockchain, similar to cryptocurrencies such as Bitcoin and Ethereum. However, what is unique about NFT is that two digital objects may never be exactly the same. NFT can be composed of images, music, artwork, GIF and even physical items.

Before the outbreak of the new crown, most music artists profited from touring performances, ticket sales and merchandise. Now, NFT is considered a means to bridge the income gap. For example, popular musician and visual artist Grimes sells a series of NFT digital art. The total transaction price of her digital art works is $6 million.

NFT may completely change the way the music industry operates, thereby bringing power into the hands of the creative artists driving the industry. This will allow artists to display their work directly on the blockchain without the need for expensive marketing.

Artists have the potential to provide exclusive music videos, behind-the-scenes information and album covers. Moreover, they can always release their albums as NFT albums.

Music NFT platform Mozik

Mozik is a decentralized music NFT platform that aims to build a healthier and fairer music ecosystem.

Through the decentralized NFT platform, Mozik uses blockchain technology to register revenue through music copyright, superstar IP, celebrity traffic and IP derivatives on the IP chain. All participants in the music ecosystem, including creators, distributors, customers and fans, can participate fairly. Through Mozik’s platform, artists will be encouraged to create more and better quality music. By reducing distribution costs and increasing the participation of music fans, all participants can share rewards and create a healthier and fairer music ecosystem.

Since the music industry will continue to rely on streaming services and other forms of income generation, artists should also profit from it. This is fair.

NFTMart

NFTMart is committed to becoming the world’s most professional decentralized NFT trading market. It is divided into two parts. The first part is nftmart.network, which is an open, decentralized NFT public chain, mainly used to issue NFT products and data transactions on the chain. The second part is the nftmart.io website, which provides users with a friendly trading scene so that users can upload or trade NFTs conveniently and quickly.

NFTMart is developed based on the underlying architecture, which is naturally combined with the Polkadot cross-chain ecology. Therefore, the entire network cross-chain model will bring unlimited possibilities for NFT transactions.

In addition, because NFTMart’s NFT professional blockchain development cost is low, it solves the problem of high transaction cost and low efficiency in the Ethereum network. Moreover, NFTMart is safe and reliable, and can be upgraded without forks. The coordination between the public chain layer and the business layer can also make it easier to provide services.

Due to the decentralized nature of NFTMart, after the growth stage, it will eventually become community autonomy. The advanced distribution mechanism can protect the interests of multiple parties, while providing different transaction modes (Dutch auction, British auction, candle auction, etc.) to provide merchants with more sales options.

Showcase

1. What is Showcase?

Showcase is a mobile application that combines marketing and social media functions. And those with smaller influencers can use the NFT creator tool to create NFT “badges”, share links with fans on social media, and earn income by selling badges. On the other hand, fans will receive a digital NFT with artwork, which they can display or trade on their personal data.

Influential people can donate part of the sold badges to various charities and display them publicly. Although Showcase aims to promote mass adoption and ease of use, it retains fully decentralized non-custodial NFT ownership.

2. Market access strategy

In terms of tokens, Showcase is working with the crypto influencer who promotes tokens and the marketing team led by Garlam, a well-known figure in the field. In terms of products, they have established a relationship with influencer for more than a year and have pre-registered hundreds of influencers to use the application.

Showcase will also work with influencer and work hard to get them to join the platform, introduce them to NFT, and help them create their first badge. This is an educational process for non-crypto influencers, many of whom are currently selling T-shirts or accepting donations.

3. Product feasibility

The target market is to monetize influencer. This includes sponsored posts, customized merchandise platforms and donation platforms.

Showcase believes that compared with existing profit-making solutions, this product is more beneficial to both influencers and fans. Influential people will earn more income than those who sell physical goods and pay for manufacturing and transportation. Fans can share their early adopter status with friends, all of which are not limited by the size of the wardrobe. Therefore, fans are more motivated to donate than donations. There is no doubt that recently on social media, a wide range of public has become interested in NFT, which will undoubtedly make the onboarding process of users and influencers easier. In terms of product design, the team studied existing markets and social media applications and drew inspiration from them and their user experience.

Therefore, Showcase is different from the NFT art platform. NFT should be regarded as a digital form of collectible goods, rather than advanced art.

DeFine Art

DeFine Art, a decentralized NFT platform in Asia, announced the official launch. All users can now exchange NFTs on this platform. DeFine will build on the existing market to support the broader NFT ecosystem in Asia.

At the same time as the official release, DeFine attracted famous artists and influencers from South Korea and China to make NFT assets and auction them on its platform. Some of the initial collaborations include Mari Kim, a contemporary Korean artist and animator from South Korea, and Bart Baker, a social media star, who has 15 million followers at Douyin, TikTok’s parent company in China. DeFine claims that more top artists, musicians, influential figures and creative talents will enter the NFT world and enter its platform throughout Asia.

DeFine’s goal is to establish an NFT ecosystem in Asia while also establishing a premier Asia-centric NFT platform similar to other platforms such as Opensea and Nifty Gateway. The platform promotes the integration of real-world assets and blockchain technology in many aspects, among which digital art, music and video, games, collectibles, and decentralized financial assets are tokenized into digital assets. In addition, its functions are similar to the decentralized NFT market. Its functions include auctions, initial NFT issuance (INO), on-chain exhibitions, and DeFi modules, which enable NFT assets to be tokenized into more liquid financial assets. The platform will also support multiple NFT standards, including Ethereum, Binance Smart Chain (BSC), Klaytn and FLOW.