Musician Deadmau5 started using Emanate, an Eos-based music platform (EOS). It also offers art objects in the form of non-fungible tokens (NFT).
Deadmau5 has announced its arrival on Emanate, an Eos blockchain-based music platform . It allows artists to be rewarded when listeners play their tracks, instantly. The network operates thanks to a native token, the Crypto Code. Emanate hopes to attract large-scale artists, so the collaboration with Deadmau5 is particularly welcome for the platform.
For now, the service is offered in its Alpha version. Emanate ultimately wants to attract 200,000 artists , with 5 million basic accounts by 2023, which would allow it to generate $ 324 million in revenue each year.
Collectible NFTs offered to fans
To celebrate the arrival of Deadmau5 on the platform, Emanate facilitated a collaboration between the musician and the artist Sutu . Announced by Deadmau5 a few days ago , it makes it possible to make a work available in the form of NFT . It is an “audio-reactive” piece, that is to say it evolves with the music being played, in this case the SATRN piece.
According to the artist, the work evokes “ a new frontier […] represented by crypto art and NFTs . We are all explorers and the community encourages us to go further. “
Deadmau5 also offers another series of NFTs, with a total value of $ 100,000 , which will be offered on the WAX blockchain from today.
Music and blockchain, a marriage that works?
As we have mentioned, the art sector and the blockchain can go hand in hand. As highlighted in an Emanate publication from May 2019 , the music industry is changing . The development of streaming platforms like Spotify and Deezer allowed the sector to grow its turnover again, while the decline of CDs had plunged sales:
Music streaming sales
But this new model can prove unfavorable for artists who have to go through rather greedy intermediaries. This is why the development of blockchain-based platforms could allow artists to offer their content directly to their fans.
In addition, a service like Emanate offers decentralized governance , which allows users to give their opinion on the future of the project. For the moment this field is only in its infancy, but it could develop in the future, if artists of scale choose to pass by this way.