The broader NFT industry has been in somewhat of a tailspin ever since the Crypto winter set in. Blue-chip cryptos like Bitcoin and Ethereum have steadily decreased in value over the past year after hitting all-time highs in 2021. But one market that has continued to grow and build in this space is the music NFT industry. When it comes to music, we aren’t talking about cartoon profile pictures. These aren’t necessarily fetching irrational prices, rather it is providing a direct distribution link for artists who might not have to deal with record labels or distribution rights for much longer.
Several new music NFT platforms are emerging as potential challengers to existing NFT sites like Spotify (NYSE: SPOT), GameStop (NYSE: GME), and Coinbase (NASDAQ: COIN). Stems, MetaBeat, and Nifter from Clickstream Corp (OTC: CLIS) are just a few names that are making waves across Web3. Both Stems and MetaBeat have received investments from major crypto venture funds, while Nifter is already live with a recent Beta Launch in Africa, Asia, and the Caribbean.
Clickstream is a company that focuses on disrupting existing technology markets and you might have heard of its flagship product, HeyPal, the social language learning app. Nifter has already helped up-and-coming artists with distributing new music and has even established its own talent division. Along with these other platforms, Nifter is changing the game for many musical artists around the world.
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