Dmusic Set To Streamline Music Industry With New NFT Platform By Way Of Partnership Between Megalodon And Casp...

The platform, powered by Casper blockchain, will provide musicians with greater autonomy over their work and more direct interactions with fans.

Photo Credit: DMusic

Megalodon, a financial consultancy firm, has partnered with CasperLabs, a leading blockchain software company for the enterprise market; to jointly launch Dmusic, a digital non-fungible token (NFT) record shop. In partnership with Haute Living, Dmusic will create more direct and valuable interactions between musicians and fans to simplify the way artists can create and offer NFTs to their supporters in a compliant way through their own channels (e.g., websites).

Dmusic will allow musicians to create and list music NFTs on the Casper Network, as well as integrate wallets and create experiences that enable new revenue models and fan participation. CasperLabs provides support for organizations building on the Casper Network, a future-proof platform for enterprises that adapts to the growing needs of businesses, without compromising on security or performance. CasperLabs and the Casper Network offer Dmusic a trusted blockchain for enterprise grade requirements and upgradeable infrastructure that powers Dmusic’s innovation.

Limited edition music NFTs will be the first assets to be offered by Dmusic artists.

“At Dmusic, we believe that those who create music and art want innovative, trustworthy ways to share with the world,” said Kamal Hotchandani, CEO of Haute Living and co-founder of Dmusic. “Building on Casper helps us forge stronger connections between artists and fans, and makes novel revenue models possible, including tiered access, direct one-to-one interactions and possibly even revenue sharing. We will help creators embrace blockchain technology, so they can fully participate in the commercialization of their work.”

Dmusic is not only focusing on high profile artists, but it will also allow independent artists to use NFT technology for fan engagement in a compliant way; while fans will be able to experience an easy checkout process when acquiring their NFTs. Dmusic also provides technology for indirect tax compliance on the sale of NFTs and prioritizes the positive environmental aspects of offering digital assets.

Thomas Arnould, co-founder of Music and manager of various French artists, stated, “As a former manager of several award-winning artists, I believe that technology, such as NFT technology, is important for how artists engage with their fans. We at Dmusic believe that this technology gives power to not only high-profile artists, but also to independent artists, as we allow them to build a deeper connection with their fanbase through NFTs. In my view the growth of the usage of NFTs in the music industry cannot be ignored and will continue to evolve. At Dmusic, we welcome artists who want to make use of NFTs for fan engagement in a compliant way.”

CasperLabs offers Dmusic a trusted blockchain platform for high profile musicians who want to “own their own digital record shop” and interact more directly with their fans. Powerhouse innovators in the music world expect the frictionless and simple customer experience that CasperLabs provides to high end brands and discerning buyers seeking early access to exclusive deals and experiences.

“It is no secret that other music technologies, and streaming in particular, have created more and more distance between artists and their fans, and given musicians less control over their own work,” said Cliff Sarkin, Chief Operating Officer of CasperLabs. “Blockchain is different. At Casper Labs, we believe that creators should have control of their IP. That is why we are working with Dmusic to create a blockchain-powered plug-in to allow musicians to create and offer their work directly to consumers as NFTs, cutting out the middleman and shifting power back to the creator.”