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What is NFT Music?
NFT music is a type of music that utilizes NFTs and blockchain technology to improve processes such as music streaming, monetization, and tracking ownership of rights. NFTs can replace the need for middlemen in the music industry and provide a secure way to track ownership and rights. Many music NFT projects are built on Ethereum's blockchain, and cryptocurrencies like Bitcoin can also be used as a payment method for purchasing NFT music.
Why Web3 Music?
Web3 music refers to the use of decentralized web technologies, such as blockchain and NFTs, in the music industry. One major advantage of Web3 music is that it allows for greater control and ownership over digital music assets. Artists can easily track and manage their intellectual property rights, ensuring that they are properly compensated for their work, and cut out various industry middle people. Overall, the adoption of Web3 technology in the music industry has the potential to greatly benefit both artists and music lovers.