Mint Songs has been building web3 music tools for artists. Currently, it offers two NFT marketplaces:
- Mint Songs V2 (Built on Ethereum blockchain)
- Factory (Built on Polygon blockchain）
To use Mint Songs V2 as an artist, you need to be invited by some community member and get an invite code. If you don’t have an invite code or just want to try music NFTs, you can submit the application form to use Factory.
Music NFTs are auctioned off on Mint Songs V2 while they are sold at fixed prices on Factory.
At Mint Songs V2 auctions, artists can receive 100% of primary sales and secondary sale creator fees. On the other hand, Factory takes 5% on every primary sale and 2.5% on every secondary sale. The NFT creator can get a 10% royalty when the NFTs are resold on Factory.
Both marketplaces are equipped with the split function, which enables artists to share their profits with collaborators automatically. Their music data such as audio files and album artworks is stored on IPFS (InterPlanetary File System).
(As of August 11, 2022)