Snoop Dogg-backed revolutionary music platform Sound.xyz has reported exceptional gains! Never mind the bear market or the FTX debacle, the platform has seen its NFT minting double over the last two months!
Sound.xyz is a cutting-edge Web3 music platform where musicians can earn revenue by listing their music as NFTs. The company started the year off on a high after achieving a groundbreaking investment of $5M in December 2021, and it will now celebrate the new year with a record volume of newly-minted music too.
Non Fungible Music
According to a Dune Analysis query, over a third of the company’s lifetime mints occurred in November. So far, the company has recorded approximately 30,562 overall mints. To top this off, active wallets on the platform have reached an all-time monthly high of 2,719!
gm. Sound officially turns one today.
Looking back at our first year:
↳ onboarded 240 artists
↳ dropped 709 tracks
↳ reached 6,200 unique collectors
↳ minted 33,771 NFTs
↳ paid $4 million directly to artists
We’re just getting started. pic.twitter.com/ZHdoGZnQxs
— sound.xyz (🎧,🎧) (@soundxyz_) December 7, 2022
Since its official launch in December 2021, the platform paid $4M to its musicians. NFT music collectors have also found the platform to be extremely lucrative, “One artist was like, I’ve made more for my fans this month than I made for myself.” – David Greenstein – Co-founder.
This healthy sign clearly indicates that music in the NFT space is very popular despite unfavorable market conditions. Sound.xyz wants to become the go-to NFT platform of choice for all music and create the worlds very first superstar of Web3.
Take a look at Sound.xyz >> Here
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ETH enthusiast & Web3 wonderer.