Music copyright NFT market charm-Euterpe launches the first Music IP-NFT mystery box and sold out instantly

Euterpe launched its first music IP-NFT Mystery box after the SBT registration and Vickrey IP-NFT auction successfully concluded and finally attracted much attention from the music and Web3 industries. According to the data on Opensea, a total of 1180 Mystery Boxes were sold out within a few minutes. The proportion of unique holders hits 92%. The conversion rate fully demonstrates the success of music copyright NFT “cross-border” trial. This is not only Euterpe’s success, but also another technological breakthrough in the music industry. The evolution of the music industry goes with technological innovation. Artists shape the music, and science and technology reshape the future of music itself.

Euterpe believes that the vitality of music lies in circulation, which is based on copyright bringing profits. It has been the privilege of record companies or head streaming media to obtain copyright royalties. Time changes. Music copyright NFT can be used as an effective proof of digital asset rights. Music creators can mint the music copyright shares into NFTs, which allows the fans to share the royalties with the music creators by holding copyright NFTs.

Music copyright NFT is not limited to the streaming platforms among music lovers and can be traded on the NFT exchanges, which will further increase its value and thus bring energy to the music market.

Why does the music copyright NFT is quickly recognized by the market?

NFT levels up the efficiency of the music industry. In the traditional music industry, music creators have to rely on record companies and streaming platforms to launch their works. Blockchain is open, transparent and traceable, which allows to reshape the way music is produced, bought, sold, listened to and managed in a fair and transparent way.

NFT has built an efficient and safe communication channel between the creators and the fans while eliminating the intermediary fees. Artists get most of the profits…