Sound.xyz Amplifies Music NFT Distribution with Ethereum Layer-2 Optimism
Sound.xyz, the music NFT distribution platform, has made a significant impact by minting over 150,000 music NFTs on Optimism, a major Layer-2 scaling solution for Ethereum, in just this month alone. Surprisingly, this number is nearly equivalent to the total number of music NFTs minted on the Ethereum mainnet over the past year.
By embracing Optimism, Sound.xyz aims to tackle crucial challenges faced by the Web3 industry, such as high gas prices and slow transactions on Ethereum’s mainnet. This collaboration allows for a more efficient and cost-effective music NFT marketplace experience.
A notable tribute from Sound.xyz to Vitalik Buterin, co-founder of Ethereum, is a Eurodisco dance tune playfully dubbed “V-Buterin.” Listeners can enjoy this music for free until June 19 at 7:00 p.m. Sound.xyz, a Web3 music portal, provides this track as a free-to-mint NFT, catering to interested investors and NFT enthusiasts.
According to analysis by Dune, since Optimism’s debut announcement on June 13, Sound.xyz has minted an impressive number of music NFTs on Optimism—over 150,000 in a single month, which is roughly equal to the cumulative amount minted on Ethereum’s mainnet over the past year. A significant portion of this minting activity comes from the V Buterin track NFT published by Optimism Collective.
Through the integration of Optimism’s Layer-2 technology, Sound.xyz has achieved a remarkable 90% reduction in gas expenses. This accomplishment is particularly noteworthy, as gas fees often surpass the cost of the music itself. Furthermore, this collaboration has led to a sixfold increase in transaction speeds on the music-centric NFT marketplace. Collectors now have more payment options available, including credit cards, Mainnet ETH, and Optimism ETH.
Despite this partnership, dedicated Ethereum supporters still have the option to deploy their contracts on Ethereum’s Layer-1 mainnet. This allows music enthusiasts to explore and collect music across both chains. However, when purchasing music on Optimism, users must use Optimism ETH, which can be easily obtained by bridging funds through the official Optimism Bridge. Collectors can now pay with Mainnet ETH and receive their music NFTs on the Optimism chain.
Excitingly, Sound.xyz has upcoming releases from talented artists like Rae Isla and Sammy Arriaga, who will debut their song “Heartbreak Closer.” Other artists, including ROHKI, TK the Legend, Bloody White, Reo Cragun, Sara J Phillips, and Daniel Alla, are expected to release new songs this week.
In summary, the collaboration between Sound.xyz and Optimism aligns with their shared goal of supporting ecosystem contributors and driving innovation. This partnership represents just the beginning of Web3 development, with Sound.xyz teasing further intriguing upgrades and changes to come.
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