MetaSing, the unicorn startup, the first decentralized music platform to combine a gaming model with web3 music streaming, has caught the eye of a number of Silicon Valley whales and has received a seed round of investment led by Pleiades Capital.
The team, made up of the cream of the crop from Facebook, Spotify and Twitch, has been getting a lot of attention from industry investors since its inception last year. This month they announced the launch of their first NFT and revealed their roadmap, but said this is only a small part of what the platform has revealed to the public. Limited to 6,900 units, this edition of NFT serves as the platform’s privileged membership card with a fair amount of the platform’s perks, featuring frogs as the main body of work from artists signed to take two.
The MetaSing platform includes content for audio sharing, video sharing, and music NFT trading, and is dedicated to being a decentralized UGC music platform, which naturally leads to a fairer redistribution of the results of artists’ work and adds users to the camp of sharing the benefits. If the music industry generates $200 billion in revenue, only 12% of that goes into the pockets of content producers, but the soul and heart of the entire industry is beating. By comparison, American League baseball players receive 47% of the entire NFL revenue, while NBA players are between 49% and 51%. This is a huge injustice that the industry is trying to eliminate outside of marketing, coolness and ‘bling’. For fairer and more profitable creators and, more inspiringly, a united and idealistic community, MetaSing doesn’t take long to organize.
Based on blockchain technology (now Solana), a distributed masternode type approach, decentralized applications (dApps) and a range of smart contracts, prophecy machines, management and indexing systems, the architecture supporting MetaSing aims to reduce the simplest expression of the music industry equation.
The artist producing the content
The consumers of said content
In the middle, the network that allows supply and demand to meet, itself driven by the MetaSing community, invests in a variety of roles and functions, accompanied by rights, obligations, privileges and incentives.
MetaSing uses the Solana protocol and the speed of this second layer of services combined with savings in transaction costs has proved decisive for the project, which relies on a very high availability of information and aims to process very large volumes of data on a daily basis. This integration with the Solana world continues.
MetaSing seems to be more interested in being the first to become the opensea of the music NFT trading market, which is already valued at over $13 billion. Let’s wait and see how MetaSing will disrupt the music entertainment industry. Maybe MetaSing will become the new unicorn