Remember the first heyday of blockchain technology in the music industry, when a bunch of startups sprang up with plans for tokenised music services? Few of them survived, let alone thrived, but 2022 could see the idea revived with an additional twist of NFTs and metaverses.
Melodity is an early example, having announced plans for three different (but linked) services. DoMeta will be a music-focused metaverse “combining music, DeFi, blockchain and NFTs — as well as a play-to-earn model — into one unique package”.
DoDuet will be a “user-friendly contest platform that gamifies music and provides visibility and easy-access prizes for artists”, while DoMart will be a music NFTs marketplace.
Yes, there’s a token – $MELD – and a roadmap that includes an initial coin offering (ICO – remember them?!) and “preparing world music domination” as among the staging posts in 2022. Well, it’s good to be ambitious…