Blockchain based Music Streaming Platform using NFTs
Yugchhaya Galphat, Om Gole, Pushkaraj Baradkar, Samarth Gawali, Yash Sahane · 2023
In terms of music development, dissemination, and audience interaction, the music business has seen several improvements. However, in existing music platforms, a significant flaw regarding unfair revenue distribution policy by intermediaries puts artists at disadvantage. The challenges that listeners confront include frequent interrupting ads and lower-quality features and music for various subscription packs. There is no transparency in transactions and revenue models in the existing systems. The objective of the platform is to reform income distribution practices that disfavor artists and to provide a fair share of the revenue to the artist for their work. The study looks at how blockchain technology with IPFS protocol and non-fungible tokens may be used to construct a decentralized application (dApp) that maximizes artist’s income by removing centralized authority. Additionally, users are provided with the ability to trade music NFTs and stream high-quality, uninterrupted music, at zero subscription fee.