Base and Sound.xyz Pave the Way for NFT Music
Coinbase-backed Base has announced a strategic alliance with Sound.xyz. This partnership, announced on December 19, ushers in a new era for artists, enabling them to mint their music as non-fungible tokens (NFTs) within the Base ecosystem.
With the Base ecosystem functioning as an Ethereum layer 2, artists gain the advantage of significantly reduced gas fees for minting music tracks as NFTs. In addition, the ecosystem guarantees faster transactions, effectively eliminating the wait times traditionally associated with blockchain operations.
Simplifying the Process for Music Creators
Arguably, one of the most significant aspects of this partnership is the newfound ease for artists. The collaboration allows artists to upload and withdraw music without needing to buy cryptocurrency or bridge funds.
It’s a simplification of the process that is likely to attract a broad spectrum of music creators, from established artists to upcoming talent exploring the potential of blockchain technology.
Reflecting the spirit of this partnership, the first song minted on Base is a blockchain-themed track titled “Based”. The song, a collaboration between artists Reo Cragun and Heno, underscores the blockchain theme with lyrics like “We’re bringing a billion on-chain.” It sets a precedent for the type of innovative content that we can expect from this union.
Sound.xyz and the Web3 Music Industry
The partnership also holds significant implications for Sound.xyz and the broader Web3 music industry. By tapping into Base’s extensive user base of over 100 million, Sound.xyz underscores the significant advantages of this collaboration.
This partnership represents a significant step forward for the music industry, bridging the gap between traditional music distribution and the burgeoning world of blockchain technology.
In this new era of music creation and distribution, Base and Sound.xyz are leading the charge. Using blockchain technology, the partnership offers a world of opportunities for artists and listeners alike, redefining the music industry’s landscape.