SONGS
Own your music. A Simple, transparent and Open kit for the new music market.
About
The problem it solves Bring on-chain ownership in the full music creation and distribution process. SONGS builds an Open Music Distribution Protocol that aims to enhance distribution efficiency and transparency in the music industry through creating the correct paths and life for song sovereign creation and distribution. It will create new incentives and dynamics between artists, music professionals and fans, adding new habilitating layers beyond traditional ownership of music royalties.
How it's made
Challenges we ran into The primary issue is the lack of time to finalize the Wrapped Song Factory for the buildathon. The proposed app currently showcases only a Factory that allows for the creation of a specific NFT with a wrapper for the correct music metadata for the music market on a mutable metadata NFT that can later be sealed. The Wrapped Song concept aims to establish a replicable primitive standard for the music industry, utilizing a Smart Account that incorporates an opinionated version of ERC-1155 with a set of dos and don'ts. This will serve as the base layer for the protocol. The WIP version is available on GitHub. The goals are to: Natively split payments among the participants/creators of each song when sent to the account. Permit metadata mutability until release, after which it will require validation. Enable song royalties tokenization for pre-release funding via new market makers. ... and other marvellous functionalities for the music industry and music on top of NFTs.