Mynt moves the music NFT project to the Hedera network
Mynt is pleased to officially announce the move of their music NFT project to the Hedera network from Ethereum. The team members have been actively engaged in acquiring musicians and connecting them to the large selection of digital collectibles at Hedera.
In the current scenario, it remains an uphill task for musicians who are facing excruciating delays in receiving payments and are being charged high fees. There also happens to be the inclusion of less connectivity when it comes to their fans, combined with the issue of the existence of various service providers that need to be cut. Coupled with all of this is the fact that there is the issue of complicated royalty agreements.
In order to effectively solve these problems, Mynt has been central to the construction of environmentally friendly NFTs, which in turn provide new opportunities for artists to increase their income using the possibilities inherent in Web3. It happens to be the aim and intention of Mynt to use all its collective exposure in the identification of high levels of talent, as well as to adequately support them on Hedera.
The entity’s vision happens to be to role play a launching pad by means of which talents will be able to be carefully nurtured in the Web3 arena. The artists will also have the opportunity to receive valuable knowledge in matters related to the launch, along with the growth of effective NFT projects.
All of this will ultimately lead to an increase in the value of the artists involved, as well as fans and management, and labels. It will also project the sustainability factor, in terms of the revenue methods, using music NFT.
According to the team members of Mynt, they narrowed down to Hedera, and were impressed by the native royalties enforced on the chain, as well as the unparalleled environmental efficiency of the Hedera network. By the way, Hedera happens to use an extremely low amount of energy for a transaction of any public DLT, supposedly taking in 3300x less energy than Ethereum, along with 1000x less than VISA.
On March 23, 2023, the entity will conduct a debut launch of Founders Token NFT through the Zuse Market. This will be a bunch of visual art, dance, as well as videos, along with music. This will allow community members to be exposed to the project’s releases in the future, as well as the marketplace platform.
According to Mynt co-founder George Wrosey, this venture will definitely bring value to the artists as well as to the labels and fans. In the words of Creative Partner at Mynt, Adam Levite, they will be actively engaged in revealing the use cases when it comes to music NFT.
As for the Vice President of The HBAR Foundation’s Metaverse Fund, Alex Russman, they are very pleased to have Coin about the Hedera ecosystem and their contribution in terms of industry expertise, as well as networking of talented artists.
The HBAR Foundation happens to support the building of Web3 communities that happen to be built on the Hedera network. They do so by raising and funding the developers engaged in this activity. The unit has six funds aimed at the crypto economy, the metaverse, sustainability, Fintech, Personal protection, as well as female founders. These funds act as helping hands to overcome the biggest obstacles globally, all on the Hedera public network.
