Please describe your proposed solution.
Nodesound will be web3-native music streaming protocol powered by NFTs with unique and novel economic tools that will empower the next generation of creative music artists.
How Will Nodesound Work?
Creators: Artistes Can Launch A Listening Party Countdown
Each song on Nodesound will be a music drop that will enable creatives release new songs with a listening party countdown.
Nodesound will give artists the chance to debut new music as a series of limited edition NFTs of the song.
Each NFT is numbered uniquely, so listeners can purchase them at the price preset by the artiste to showcase their early support.
We help artists capture more value from their art, and connect fans to the music they love more closely.
Fans: Showcase & Support Your Favorite Creator
Each Nodesound NFT is more than just an NFT that represents a limited edition of a song, Owning a song’s NFT will give the backer or the supporter a chance to make a public comment on the song timestamp just like on Soundcloud, but we will do it better, you can show your support on any timestamp on the song.
Once you sell your NFT, your comment disappears, getting replaced by the new owner.
Hold and Show off your Node NFTs you’ve collected to show proof of support from day 1.
Earn Perks & Rewards While Being A Supporter
Music is all about being creative and supporting artists should be fun.
Every song on Nodesound has a “Featured Time” embedded on a particular randomly selected timestamp in the song.
Once you leave your comment where the Featured Time is located, your Node NFT gets upgraded to a 1/1 edition with unique artwork that will be chosen by the artist.
There’s only one golden egg per song, and the winner is revealed when the song sells out.
Nodesound Will Utilize NFTs In A Way Never Seen Before On Cardano
We are building something never seen before on cardano.
We are the first to embark on such a grandeur endeavor.
In addition to the Cardano community owning the song and etching your name in its history, NODE NFTs are your access pass tickets to the Nodesound community on Discord where artists and listeners interact with each other through weekly hangouts, collaborative projects, and more.
Please describe how your proposed solution will address the Challenge that you have submitted it in.
Nodesound will allow creators mint original high-quality song NFTs while retaining true ownership and provenance of their work, as the the smart contract that mints NFTs will be unique to each artist.
On secondary markets, each artist’s songs show up as a distinct collection instead of getting lost in the sea of NFTs.
Our novel approach on the utilization of NFTs will give further utility to CNFTs and greater adoption on the Cardano ecosystem.
Creators receive 100% of the proceeds from their work and 5% of every resale of the Song NFT without giving up any ownership of their masters or publishing rights.
Every artist has complete ownership over their contract, so backers can trust that what they're buying is authentic.
Because artists own their contract, artists also own the relationship with their fans, making it easier for them to work with Nodesound.
Can We Redefine The Perception Of NFTs On Cardano?
Yes, strongly believe that what we are building is still new and unheard of on Cardano, this would paint NFTs on Cardano in an entirely new light with their utilities reprising other tangible items like music.
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
Our biggest challenge is raising funds to be able to develop a proof of concept of our Cardano NFT music protocol.
We are have the open sourced EVM master contracts which will be deployable on the Cardano Sidechain.
To continue development, the project requires Funding.