Are you a musician looking to create NFTs for your work? Here's why you should consider using the ERC-1155 smart contract standard.
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1/ The ERC-1155 standard allows for the creation of both fungible and non-fungible tokens in a single smart contract, making it a versatile choice for music NFTs.
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2/ This standard also allows for token batching, which can save on gas costs and make the process of minting and trading NFTs more efficient.
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3/ Musicians can use ERC-1155 to mint unique NFTs for individual songs or albums, as well as creating a limited supply of fungible tokens for merchandise or VIP experiences.
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4/ ERC-1155 also allows for the creation of royalties, where a percentage of future sales can be automatically paid out to the original creator. This can provide a new revenue stream for musicians and incentivize the creation of new NFTs.
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5/ Overall, ERC-1155 is a smart contract standard that offers flexibility and cost-effectiveness for music NFTs, making it a great choice for musicians looking to get into the NFT space.
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6/ Marketplaces that have implemented ERC-1155 standard on their platforms include: Enjin, SuperRare, OpenSea and Rarible.
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If you need help getting started using the ERC-1155 Standard or your ready to dive into NFTizing your collection of music, reach out to us today!
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