projectNEWM

A music ecosystem empowering musicians with a streaming platform and marketplace. Returning control and ownership for the rights and distribution of their work.

projectNEWM is aiming to revolutionize the music industry on the Cardano blockchain. Musicians will be able to own and control the rights to their music that is issued, stored, and tracked as NFTs on Cardano. Fans will be able to purchase, swap, and trade fractions of these NFTS and, in return, they will be entitled to proportions of the royalties received.

projectNEWM is aiming to empower artists by giving them control over their work, its rights, and its distribution.

For Artists

The benefits for artists using the projectNEWM platform include:

Tokenized royalties from streams of their music
The ability to sell and auction partial rights to their tracks. Enabling them to obtain liquidity from their material
Able to sell other NFTs on the projectNEWM marketplace
Reduced operational costs via a blockchain powered streaming platform means higher royalties than traditional services
Able to receive tips from fans

For Music Fans

Th benefits for music fans on the platform include:

The ability to support the artists they listen to directly via their listens
Purchasing artist NFTs, and selling/trading them on the NEWM marketplace. Some NFTs will entitle them to royalties from the use of the music
Can send an instant tip to artists

Initially the music files that make up the library will be stored centrally by projectNEWM, but the plan is to eventually store the music files in a decentralized manner. Many options are being explored to find the one that fits the project's needs the best.

How it Works

Details on how the projectNEWN platform will function has not been fully laid out just yet, however many details can be found spread across their site and lightpaper. From what we can deduce:

Music will be issued as NFTs on the Cardano blockchain.
These will be able to be fractionalized, via smart contract, in order to allow artists to access the liquidity locked in their music
Users will be able to purchase fractions of these NFTs and receive the royalties attributed to their fraction
Artists will be able to sell other NFTs through the platform to their fans
Users will be able to sell and trade all the NFTs sold on the platform through a marketplace engineered by projectNEWM
Royalties received for listens will be distributed to NFT holders via smart contract
On an artist's page users will be able to send them a direct and instant tip

The projectNEWM team are getting 19.5% of the token supply. These are vested, and the founders are subject to a 5 year vesting period.

There are 5 stages of the projectNEWM ecosystem that build on top of one another. These are:

Fractionalized IP Rights (enabling artists to sell fractions of their material)
A marketplace for the trading of these fractions between users
The collection of royalties related to those fractionalized IP rights and distributing them to the holders
A streaming platform and the ability for artists to sell tickets to concerts
A DeFi protocol for music NFTs

A Custodial Wallet for Onboarding

projectNEWM are developing an open sourced, custodial wallet for their platform which will allow their users to send, receive, and store their native tokens, both FTs and NFTs, along with ADA. This will make onboarding for non-crypto natives much easier.

projectNEWM are committing to being open sourced and once an element of their music ecosystem is developed and released it will be open sourced to the community in due course.

Industry

Industry Solutions

Media

Tags

NFT

Royalties

Marketplace

IP Rights

Fractional NFT

Music

Author

builtoncardano

Viewpoints

Add Viewpoint

Links

Project Website

Glossary

NFT

If you’re looking for a Cardano NFT then you’ve found the place for you! listed here are all the projects that feature NFTs in some form on Cardano. NFTs are no longer just the PFP collections that made them famous, although many do still exists and you can find Cardano NFT projects here, NFTs are assets with multiple different types of utility, depending on which project’s NFTs your buying.

A Cardano NFT is a native asset on Cardano which means that, unlike on other (specifically EVM-based) chains, an NFT is not managed by a smart contract, meaning that it behaves and is managed differently to the chain’s base asset, ada. On Cardano NFTs behave the same as the chains base asset as they are native to the chain.

On this page you’ll find everything from Cardano NFT projects to DeFi projects and decentralized identity (DID) solutions that have incorporated NFTs, to the Cardano NFT marketplaces you can use to purchase NFTs.

DeFi

Here are all the Cardano DeFi projects complete with descriptions and tags. If you’re looking for a Cardano DeFi exchange, a lending protocol, a launchpad, a Cardano stablecoin, or platforms on which to tokenize real world assets then you’ve come to the right place. The Cardano DeFi ecosystem is maturing and, as it does, we will continue to list the new Cardano DeFi projects here. If you look at Cardano in 5 years this list will be substantially different, some projects will have left it, but many many more will have been added.

If you’re looking to simply swap Cardano native tokens then a Cardano DEX is your best choice. If you’re looking to utilize your crypto holdings for a loan then take a look at all the Cardano lending and borrowing platforms on offer and choose which one fits your needs. There is much more utility in the Cardano DeFi world and we invite you to explore it here!

Custodial

Custodial means to be responsible for holding something for someone else. In the cryptocurrency space custodial is associated with the storing of assets. A custodial wallet, platform or application will store the users assets either themselves or with a third party, meaning that the user doesn't have ownership of their assets as, ultimately, they are in someone else's hands. The opposite of custodial is non-custodial.

Auction

An auction is when something is put up for sale and people place bids to determine who wins, a.k.a. buys, the item. There are multiple types of auction out there and below are the most common types:

English Auction: An item starts at a certain price and people places bids that raise in value with each bid and the winner is the person who places the highest bid. They then pay the value of their bid.

Dutch Auction: An item starts at a certain high price. The price is then progressively lowered until someone claims it and they pay the price that they stopped the auction at.

Sealed Bid Auction: People write down their bids for an item and submit them. Once the time for submitting bids is over then all the bids are opened and the highest bidder wins the auction.

Vickery Auction: Works in almost the same way as a sealed bid auction. However, when all the bids are opened the highest bidder wins but they pay the price of the second highest bid.

Auctions, especially English auctions, often have reserves attached to them. A reserve means that the seller sets a minimum price for the item. If the price is not met by the buyer then the item is not sold. Reserves can be kept hidden, which is most common, or they can be disclosed to the bidders.

For Artists

For Music Fans

How it Works

A Custodial Wallet for Onboarding

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