AudioSwim, a Dubai-based NFT music ecosystem and digital music distribution network, is going to revolutionize the way artists, record companies, and music lovers make money through music streaming.
The NFT-specific website, currently available in public beta, allows both artists and fans to purchase and trade NFTs and music royalties all over the world.
More precisely, it allows musicians to convert their music into NFTs, allowing them to select whether they wish to distribute a single edition, multiple editions, or a rental. They can also specify the selling method (set price or auction) and the royalties they want to receive from each secondary sale.
On the other side, interested fans and collectors can purchase NFTs using cryptocurrency or a credit card.
Although the global NFT market appears gloomy when compared to its peak in 2021, the NFT market is predicted to be valued at $211.72 billion by 2030. This a forecast that appears to be coming true, as corporations and individuals begin to become more aware of the advantages and uses of NFTs, which extend far beyond their use as digital art.
