Decentralised start-up Musixverse will offer artists a marketplace, fan relationship management, a record label and more

In bigger industries such as the music industry, It follows a specific stereotyped template which favors record labels mostly. As an indie artist, you’ll need to step out of the box and stand out. Numerous indie artists have to put effort in order to attain normalcy.

Decentralised start-up Musixverse will offer artists a marketplace, fan relationship management, a record label and more

The problem with artists is that they receive only a small part of the revenue due to unfavorable royalty distribution schemes. It's really tough for artists to gain recognition and sustain themselves financially by relying on their talent and social capital.

In the music industry, the copyright ownership, collectibles, and media rights have not adapted to digital technology. That's what makes room for Musixverse to come into play with its solutions to challenge this drawback of the music industry.

What is Musixverse

Musixverse is a web3 start-up empowering indie music artists in ownership and distribution across the web and beyond in the market.

This one of a kind web3 platform proposes a solution that helps in music distribution while helping artists in generating individual income sources and lets fans connect with the artists they admire, attempting to cut out intermediaries and create digital scarcity.

Musixverse also allows one to own music copyrights, the values of which are likely to increase over time. Managers will also be able to run marketing campaigns via Musixverse, and it’d be the first destination for the artist and repertoire managers who are on the lookout for fresh talent.

While using Polygon’s blockchain infrastructure to power the transactions, Musixverse is leveraging blockchain technology and its core characteristics of decentralization, transparency, and future-proof reliability.

Both founders of Musixverse, Yuvraj Chandra and Pushpit Bhardwaj, are recent Computer Science graduates.

The platform introduces a platform for music artists called Mx Catalog, an NFT marketplace where music, rights, and income streams may be packaged and sold directly by artists to users. This functionality will be supported by Mx AFfiRM, a cutting-edge, decentralized Artist-Fan Relationship Management (AFfiRM) system. Mx Records, the in-house record label built from the ground up will serve the hundreds of thousands of independent artists, by harnessing the data gathered from all of this.

The major problem Musixverse may encounter is the general lack of knowledge regarding the evolving Web3 space. However, as the blockchain and cryptocurrency market is widening, the web3 sector will also considerably improve and people will get more familiar with web3 protocols. The blockchain technology and solutions proposed by it, has the potential to make great changes to the music industry. 

Musixverse team believes that some of the latest trends that may realign things in the music industry are NFTs. As such, NFT tickets will replace the traditional way of selling tickets of live music and concerts. The music world today is changing rapidly, with indie artists becoming mainstream faster than ever, which demands a shift in the paradigm and calls for new ways of communication and commerce for artists, fans and the whole industry.

There are numerous initiatives tackling these problems. They work with artists one at a time by sitting with teams and having them sign up for agreements, which is not a scalable solution. So, Musixverse is here to streamline and scale the entire process. 

Currently, Musixverse is launched as a beta version where artists can join their exclusive community to have early access to the platform before they go live. 

What’s in the Future

Musixverse is currently under development phase while also open for industry collaborations. Their next objective is to complete the demo stage and undertake extensive marketing. The team is in plan to go live by November 20.

In the next phase, the Musixverse team will be focusing on expanding internationally and adding new features to their products in March next year. There are plans to introduce Mx Finance, and Mx Records next year. And finally, they want to begin developing the metaverse in 2024.