In the increasingly thriving NFT market, a new interesting novelty made in Italy arrives. It is in fact online Onlymusix, the first Italian platform that allows the sale and exchange of NFTs conceived and created exclusively for the music market. The Onlymusix lens, produced by Onlytech Industries and created by the Italian IT company The I, is to bring all the players in the music industry closer together, providing fans with a new way to follow and support their favorite artists. Record labels can also take advantage of Onlymusix, since the platform aims to become a space in which to create a strong, stable and profitable community, capable of exploiting the new technologies of cryptocurrencies and blockchains.
NFTs (acronym for Non-Fungible Token) are special types of tokens hosted on a blockchain, which guarantee the ownership, authenticity and uniqueness of numerous digital assets, which can also include works of art and music. To allow the creation, sale and collection of NFTs, Onlymusix uses the Polygon blockchain which has the advantage of drastically reducing CO2 emissions and allows operations to be carried out on the blockchain without the need to pay the so-called Gas Fees which, above all for low figures, they can greatly affect the total of a transaction.
Unlike other NFT marketplaces, Onlymusix also adheres to the European directives that protect the rights of consumers, thus allowing the correct management of the tax aspects related to the sale of NFTs. To further protect artists and enthusiasts, the registration to the platform also provides for the verification of the identity of the artists, while the creation of NFTs is associated with a license that determines the rights on a specific digital asset.
Onlymusix: the made in Italy NFT platform for all music lovers
Silvia Bertelli, COO of Onlytech Industries, declared: «We believe that a revolution in the field of music cannot and should not go at the expense of other revolutions, no less important». This commitment is reflected in Onlymusix’s choices, since the platform, even if there are still no precise estimates of the energy consumption caused by the creation of the NFTs, has chosen to establish a collaboration with Forestmatictech startup active in the reforestation field, with the aim of reducing the environmental impact generated by the activities.
But how is the project going? Antonino Abbate, Founder of Onlytech Industries, talks about it:
We are enthusiastic about the feedback received from the music community, there are already more than a hundred artists registered on Onlymusix. The creators come from 16 different countries, creating a very heterogeneous audience that spans different musical genres. Ours is a complex and ambitious project and I am happy to say that it was entirely conceived, developed and produced in Italy.
There is one of the first artists involved in the project Nasocanzoni, Sicilian singer-songwriter who created the NFT Sinusite on Onlymusix, that is a self-produced and self-financed album consisting of 8 songs and a cover. Whoever manages to win the Sinusite auction will also earn the master and related rights to the same album. The buyer will also have the laptop with which Nasocanzoni created the work. On board Onlymusix there are also i Belladonna, Italian band formed by Luana Caraffa and Dani Macchi author of music for international trailers and films such as Split, The Black Tower and Black Panther. This is their statement:
Our first NFT was the first in the world to offer buyers co-ownership of the rights to the song, and we are delighted that in just one year it has become a common practice. The NFT technology has finally made it possible to share one’s music in a total way, the artist / fan barrier breaks down, and a new frontier opens up with enormous potential.