Melodity is pushing the music industry closer toward the decentralized creator economy. The platform’s Web 3.0 infrastructure uses innovative new modes of monetization with musicians in mind.
Melodity’s premier ecosystem’s design allows for play-to-earn and listen-to-earn opportunities. The Metaverse, which uses blockchain technology as a foundation, aims to empower musicians and fans. According to the company’s website, the company wants “to bring the old-fashioned music industry to the 21st century connecting it to the awesome world of blockchain technology and decentralization”. Melodity plans for artists to keep 90% of revenue from their art, a rate they hope will become a new benchmark in the industry.
Melodity: DoMets, DoDuet And DoMart
DoMeta, DoDuet, and DoMart are three platforms that integrate with Melodity. Firstly, DoMeta is the company’s music-centric metaverse in which artists and music-lovers can play, learn, create and participate in live events together. Combining DeFi blockchain and NFTs with music and play-to-earn, DoMeta offers a unique community.
Second, DoDuet is a platform revolving around contests and gamifying music. Through DoDuet, Melodity offers its listen-to-earn platform. Aiming to be a user-friendly experience, DoDuet aims to offer a unique, innovative experience. The platform plans to reward users for voting and listening to music tracks.
Lastly, DoMart is the NFT marketplace for the platform. DoMart provides music distribution as well as the sale and licensing of composite music NFTS.
With these tools, Melodity hopes to maximize musicians’ incomes and heighten their visibility to fans. With this goal in mind, Melodity offers its artists advanced instruments with which to manage their art. As Rolen Guzman says in the press release, “With an ambitious purpose, Melodity is a protocol designed with the idea at heart to give freedom and new means to all music artists so that they can unlock the full potential of their music.” Melodity token ($MELD) is the metaverse’s currency which is still in the early stages of its launch.