Musixverse (MXV) is a project created with the aim of solving the challenges found within this industry.
What Is Musixverse?
Musixverse is a blockchain-based initiative that aims to strengthen the ownership and distribution of music on the web and beyond the web.
With this platform, users can discover and buy new music, while artists can provide new sources of income. At the same time, it can enable investors to own music, the value of which may increase over time.
Founded by two Computer Science graduates, Musixverse’s origin story was told by Co-Founder Yuvraj Chandra. It all started in the summer of 2021 when Pushpit Bhardwaj (the company’s other co-founder) asked his cousin how much he earned from music. They set out to come up with a solution to this problem after hearing that he had only earned $30 until then.
Co-Founder Chandra: “During the same time, Pushpit and I worked on several NFT projects. Pushpit got the idea of bringing out the utilities from Music NFTs. He contacted me, and we discussed it. We had worked together for a start-up before for about a year, and the experience that we got proved to be really helpful. We learned a bunch of things about tech and start-ups in general. Listening to the idea, I got excited, and we started planning.”
An Extra Edge
Musixverse offers Mx Catalog, an NFT market for artists where music, rights and revenue streams can be sold directly by artists to consumers without intermediaries. It will be powered by Mx AFfiRM, a state-of-the-art, decentralized Artist-Fan Relationship Management (AFfiRM) system that operates independently of the Musixverse.
Musixverse’s Future Plans
The company is currently working on product development and collaborations and aims to finish these studies at the end of the year. After these tasks are completed, there are goals to complete the demo stage and conduct a large-scale marketing.
The project team plans to move the business to an international dimension and add new features to its products by the end of the first quarter of 2023. Additionally, there are plans to introduce Mx Finance and Mx Records next year. Finally, they want to start developing the metaverse in 2024. The beta version of Musixverse was recently released.
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