First Audio NFTs auction began last weekend on the IOST marketplace, TokenLink. IOST allows creators to earn a 10% royalty of the sale price.
This is possible due to TokenLink’s virtually free gas fee, in contrast to the skyrocketing Ethereum gas fees which made royalties nearly unsuitable.
Is TokenLink the next target marketplace for music creators?
After collaborating with Manga artists with NFTs, the Platinum Egg team released the first audio track NFTs by music creators on their IOST marketplace, TOKENLKINK.
Notably, this audio track can be used as a game item on CrossLink game, and every time it is sold to a new buyer, the audio creator will earn 10% loyalty of the sale price.
The first music audio is “Burning castle” by KAYY, as a guitarist and composer of the band fu-ca. He made his major debut on Universal Music (Japan)-Delicious Deli Records. Since 2010, KAYY has been active as a composer and sound producer.
This is an equipment item with background music that includes Burning Castle. Once in your possession, you can set the background music from the settings screen. This item is a creator item. When buying and selling on Token Link, 10% of the sale price will be returned to the creator as revenue in addition to the normal commission.
Find the TOKENLINK Auction here.
TOKENLINK provides a function to return the proceeds from secondary sales to creators. Although OpenSea has implemented a function to return the fees from secondary sales to creators, Ethereum’s transaction fees (gas fees) have skyrocketed from several thousand yen to tens of thousands of yen. This high gas fee makes it unsuitable for sending small transactions. This is where the advantage of IOST comes in, in which the cost of gas is practically free, and that benefits and develops various ways to return small amounts to creators.
TOKENLINK plans to create a mixed metaverse of games, blockchain, and cryptographic art by creating NFT avatar parts and in-game events using NFT music.
About Platinum Egg
An application development company specializing in games and entertainment that develops CROSSLINK and TOKENLINK. The company provides consulting services for blockchain implementation in the gaming domain.
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