Myx, a streaming and NFT platform, is on a mission of giving back control over music distribution to artists. It bridges the gap between fans and artists – encouraging collaboration, creation and connection.
Myx is a decentralized streaming platform built with blockchain technology. Artists can stream up to three times as many songs as Spotify and have uncapped revenue potential.
Artists can also release unlimited tracks or collections on Polygon as either one-of-ones, multiple-edition NFTs. The NFTs will also be available automatically on OpenSea. Artists have the chance to make secondary sales and generate income.
Myx Music NFTs include digital signatures and proof of authority. To protect against piracy, files are stored with IPFS and encrypted at the highest level of security.
The platform allows artists to collaborate with others. Myx’s feature “Pod” allows co-writers to collaborate, and they will receive royalties proportional with their Pod ownership. Fans can also invest in their favorite artists and make money with Pods.
Harrison $First, who is one of more than 150 artists using the platform, stated, “The most interesting thing about Myx at the stage seems to be its Pod feature.” This will allow artists to make their music a highly-commodity asset.
Myx is currently in soft launch, with streaming set to launch in the second quarter 2022. It joins an increasing number of blockchain-based music streaming platforms, which are quickly becoming a serious threat to traditional streaming services.