By Abhinav TewariNFT
PixelBands uses algorithmically generated pixel art combined with music to enable musicians to create additional income streams apart from royalties.
Introduction to ‘PixelBands’
Pixelbands is a unique NFT project on Solana that combines algorithmically generated pixel art with combinable music. It was created with the objective to drive music growth on Solana by building a community of musicians that leverage on-chain tools to create, collaborate and monetize music. The platform allows users to mint or collect unique PixelBand member NFTs of guitarists, drummers, bassists, and pianists.
All the NFTs include a unique sound playable on the Phantom wallet or in the “Studio.” The sounds are created and mastered in order to enable each band members’ NFT to be paired with three other band members with different instruments to create a song. Once four band members with different instruments are collected, they can be minted to create a band NFT. When an NFT is sold on the secondary market, the community artist earns 50% royalties. When a band NFT is sold, the producer earns 10%, with an additional 10% given to each of the four members.
What Can Musicians do on PixelBands
There are five components to the creation process for musicians on PixelBand:
– PixelBand NFT:
It enables users to acquire on-chain music through minting or purchasing NFTs. Once the music is submitted for a PixelBands NFT collection, the music is on-chain and can generate royalties.
– PixelBands Holder Toolkit:
PixelBand users will have access to a toolkit that comprises instructional videos, charts, music theory, recording/mix guides, midi files, etc. Access to this tool kit is gated via the Solana wallet and will require the user to hold at least one NFT. This toolkit adds immense value for PixelBand holders as it can be referenced while using the studio, submitting stems, and/or creating music in a Digital Audio Workstation (DAW).
- Web3 Music Studio:
The PixelBands studio is a creative tool that lets users create with music they own on-chain. It allows users to import their NFTs to compose, arrange and edit songs. It also offers users to purchase on-chain audio files such as stems, beats, vocals, etc., and incorporate them into the songs. Version 1, which is currently active, has base functionality that allows PixelBand NFTs to be layered to create music. In the future, the next version of the Studio will have a DAW that supports both music composition and arrangement. It will also have the ability to import and export on-chain music.
– Music Marketplace:
The music NFTs can be sold in the marketplace under the artist’s name. PixelBands is currently working on a beta marketplace.
– Music NFT Launchpad:
The launchpad is a platform to bring the music they created in the studio on-chain. This is achieved by allowing the compositions created in the studio to be minted onto the Solana blockchain in order for them to be presented in the marketplace. Creating music as NFTs provides the creators an avenue for monetization as royalty distribution rules for the smart contract can be applied on the launchpad.
PlixeBands aims to bring immense value to individual musicians, the PixelBand music community, verified artists, and PixelBand holders. For individual musicians, it offers PixelBand’s generations, independent music NFTs, the opportunity to create music in the PixelBands studio.
For the PixelBands music community, it provides a platform for structuring custom royalty distribution, collaborative music NFTs, and music/remix competitions. For verified artists, it will offer unique collections and drop. It has envisaged the following ideas in order to deliver value to the overall community at large:
Music NFT launchpad Discounts: PixelBand holders will be rewarded with discounts on royalties on future sales of NFT music created on the launchpad.
Access to future drops: Exclusive and priority access to PixelBands NFT collections, drops, and tools for PixelBand holders.
Minter-Alpha Discord channel: To provide alpha and information on future mints and whitelisting opportunities for PixelBand holders.
Learning music on Web3: Plans to provide ongoing education and exclusive content.
Monthly holder bounties: Will enable holders to receive SOL from the community wallet by rewarding members who add value to the community by completing bounties such as sharing alpha, building PixelBand tools, supporting musicians and the community at large.
Funding community projects and ideas: There is a proposal process for investors through which the community wallet can be used to fund ideas and initiatives that bring value to PixelBand.
Pixelbands Generations Collections: Collections of PixelBand NFTs––with stems sourced from the community––that are released in phases called generations which span across genres and instruments. Generation 1 has a collection of 4,444 instrumental NFTs in the LoFi genre (75 bpm in C-major). Generation 2 is not yet launched––however, it will explore a new genre and will include a collection of 4,444 NFT in the Electronic Dance Music (EDM) genre (128 bpm in F-minor).
The objective of the generation releases is to:
Expand opportunities for musicians to get their music on the chain.
Expand the PixelBand community.
Provide creators with a variety of sounds and expand the selection of music and instruments available.
Pixel ‘Bands’: Band NFTs are minted by collecting four PixelBand NFTs. Each NFT has an image of the four band members with their sounds layered in order to create a song.
1:1 Auctions: PixelBands will release 1 of 1 Music NFTs that use music from within and outside the community. These NFTs will have similar utility as the other (Gen1 and Gen 2) ones and will be categorized as special NFTs in the PixelBands sound library.
Unique Drops: PixelBands is seeking partnerships with professional musicians to bring music onto the Solana blockchain through exclusive NFT collections from popular musicians the world over. These releases may include individual stems, beats, sound collections, midi packs, songs, and albums.
MultiSig Community Wallet and Fund
The PixelBands community wallet is a mechanism to fund projects and activities in the community. The Realms MultiSig wallet is designed to provide security and transparency. It requires a governance vote from the 5 PixelBand board members to release funds. At least 3/5th of the board members’ votes are required to move funds to a ‘Hot’ wallet for spending or payment. It comprises funds raised through 5% of royalties generated from sales of native NFTs.
The breakdown of wallet usage and funds is as follows:
60% of the community wallet (3% of total sales) will be directed to funding projects which are selected by the community. Funds for a particular project are released after the community votes for the project based on the proposal submitted. Formal governance guidelines will be released in the near future.
40% of the community wallet (2% of total sales) will be allocated for the development of in-house tools such as PixelBands Studio, holder tools, marketing, art, etc.
In summary, the wallet will be used to pay for development activities, artwork, marketing activities, onboarding educational speakers and tutorials, and building hold tools.
NFTs have the potential to unleash an exciting new market in the creative economy. There has been sustained interest in the audience seeking audio and visual NFTs. And for artists, it becomes a tool to transmit and authenticate their unique content whilst providing significant financial and ownership control as the artist gets to keep the bulk of the revenues and does not have to rely on labels and other entities. NFTs also have a strong potential for collaborations, community building, and driving the next generation of streaming which might largely be decentralized.
Although PixelBands, in its current form, offers a robust feature suite when in full flight, it is poised to significantly benefit from the NFT movement and the paradigm shift taking place in the music streaming industry.
Find out most about PixelBands here:
Source : web3wire.news
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