Have you heard about the Bored Ape Yacht Club (BAYC)?
It is one of the most famous NFTs on the market, there are 10 000 pieces and they are all unique, the founders created it as a membership structure where whomever holds one of these NFTs get access to special parties, gatherings and other perks. One of the few things Eminem and Paris Hilton have in common. A very smart concept and a fine example of how an NFT can be utilized. Mostly NFTs has been connected to art pieces in digital format, a jpg, png, gif etc. This is not the only format of which NFTs are available and we will outline the segment Zeptagram is focusing on which is the Music NFTs.
So what is a NFT and more specifically what are music NFTs. NFT stands for non fungible token. if you compare bitcoin which is a fungible asset with a non fungible assets they have different functionality.
An example: If you own 0.01 Bitcoin and then sell that Bitcoin and buy another 0.01 Bitcoin, what you had from the start and what you have today will be the exact same thing, there will be no differentiation. The “non” part that is added to the fungible token is what sets it apart, that’s what makes it unique. If you own a BAYC which is perhaps the most famous NFT:s in the market then no other BAYC is the same as the one you own.
It can be compared with a unique set of baseball card that has been produced in lots of 50. Every single one of these 50 baseball cards represents the same player, however they are marked with a number from 1 to 50 to be able to identify exactly the order they were bought. That could potentially make different versions of the card worth more or less. The first card which is no. 1 could be the order the cards where distributed meaning that whomever bought the first card has the highest value of the 50.
The Music NFTs works similarly, Zeptagram have opted for a Royalty split based NFT, what this means in reality is that a certain amount of the IP rights of the tracks are owned by whomever holds the NFT. Zeptagram makes collaborations with artists, producers, songwriters, record labels or a publishing houses. They sign a deal saying that they will give up procentage of a specific tracks royalty streams and now this royalty stream can be purchased, sold and even traded on the Zeptagram platform, pretty straight forward .
All these NFT and Music NFTs are based on a technology called blockchain, this is why these instruments are so interesting because they are of decentralized nature for the people and run by the people, the settlements are almost instant and it’s so easy to move in and out of ownership. Initially there was only one protocol out there to create NFT:s which was the Ethereum procotol with the help of ERC-721. Crypto Kitties was the first big project in this space. Nowadays most blockchains have support for NFTs and Zeptagram has chosen toutilize the Telos blockchain which is based on the concept of proof of Stake no mining and for the flexibility and the low transaction fees. This is all to create a good experience for the users. Zeptagram has two different platforms, one NFT platform which has art pieces and the other NFTs and then there is an Music NFTs platform (dNFT platform).
At the Zeptagram Music NFTs platform you will find tracks by Justin Bieber, Britney Spears, Eros Ramazzotti, Nicole Scherzinger, Kelly Clarksson and many more. These collector’s items are available today and shows what the future of music rights ownership will be. You can sign up to the platform by clicking the download buttons below:
(Android button) (iOS button)
There are many NFT platforms on the market and the industry as a whole is growing rapidly, there are billions of dollars of transactions happening in the space on a yearly basis. The possibilities are endless and your imagination sets the present for what is achievable. Zeptagram aims to be on the top range of these Music NFT platforms.
We want to make life as easy as possible for the artists and to create a very simpleexperience.