Project Name: LoopNFT - Mint Your Melody, Own Your Legacy. Create, Mint, Sell and Earn Royalties, All In One Place.
Project Track: Artistry
Team Name: LoopNFT
Team Member(s): @bahauddin @josep.v @UsmanShamas @Steve20
HackerEarth Project Link: josep.v_55a6 - HackaTRON Season 5 - Submission | HackerEarth Hackathons
Mission: “At LoopNFT, our mission is to support everyone that wants to create unique music NFTs and earn perpetual royalties. We believe in simplifying the process, offering a three-step solution that unites creativity, technology, and sustainability, revolutionizing the way artists monetize their art on Web3.”
LoopNFT: Create music NFT with the help of AI to get royalties forever! Everything in one single platform in 3 simple steps:
1 CRAFT YOUR UNIQUE SOUND
LoopNFT’s intuitive interface and advanced looping software enable you to craft layered music compositions across all genres, bringing your creative vision to life. With our AI music engine, you can create new sounds using music generative that you can use for your compositions.
2 MINT MUSIC NFTS
After creating your music, LoopNFT simplifies the process of minting it into a unique, irreplaceable NFT. Secured on the blockchain, this token transforms your composition into a unique digital asset, immortalizing your creativity and talent.
3 SELL IN LoopNFT’S STORE
Once your music is minted into an NFT, you can showcase it to the world through LoopNFT’s Store, a dedicated, secure marketplace for music NFTs. It allows global music enthusiasts, NFT collectors, and investors to easily purchase, collect, and trade your unique creations.
- INTEGRATED, SEAMLESS EXPERIENCE
LoopNFT’s brilliance is it’s all-in-one approach to music creation and NFTs. It streamlines the process from composing to minting and selling NFTs, allowing artists to focus on creativity while LiveLoop manages the complexities of NFT transactions.
- INTEGRATED, SEAMLESS EXPERIENCE
The primary goal of LoopNFT is to provide a decentralized platform where musicians can make music and mint, buy, and sell music NFTs. The objectives include:
- Software to create music loops
- Empowering Artists: Enable artists to directly mint NFTs of their music, maintaining ownership and control over their intellectual property.
- Fixed Price and Bidding: Allow artists to set fixed prices for their music NFTs and introduce a bidding mechanism for users interested in acquiring unique pieces.
Project Value: The current centralized music distribution model often leaves artists with limited control over their work and insufficient revenue streams. Piracy and lack of transparency in royalty distribution remain persistent issues. LoopNFT aims to revolutionize the music industry by leveraging the capabilities of blockchain technology, particularly Tron, to empower artists with more control, transparency, and revenue in the distribution of their music.
Video: LoopNFT on Vimeo
Project Info: LoopNFT - Google Slides
Project Website: [www.loopnft.live)
Project Test Instructions:
- Click on connect wallet button
- Connect TronLink wallet
- Fill up the form of user profile and update the user profile
- Click on upload button
- You can put data for nft minting (NFT picture, audio , name, descriptions,price ,type (bidding,fixed price))
- Click on upload button for NFT minting Confirm transaction from tronlink
- Check Profile
- Nft is visible on user profile and dashboard
- If you want to buy nft with fixed price nft. Click on buy button Tronlink will open confirm the transaction
- if you want to buy nft with bidding nft. Click on place bid button tronlink will open and confirm the transaction
- Now NFT is in user profile
Smart Contracts: Utilize Tron’s smart contract capabilities to implement secure and transparent transactions, including minting, buying, and bidding on music NFTs.
Decentralized Storage: Integrate decentralized storage solutions for storing music files, ensuring security, accessibility, and censorship resistance.
User-friendly Interface: Develop an intuitive and user-friendly interface for artists to mint NFTs and for users to discover and purchase them easily.
Blockchain Identity: Implement identity solutions on the blockchain to verify the authenticity of artists and the provenance of their work.
Scope of the Solution:
- Minting and Selling NFTs: Artists can mint unique NFTs for their music and set fixed prices or allow bidding.
- Token Standard: Utilize TRC-721 or compatible standards for representing music NFTs on the Tron blockchain.
By addressing the challenges in the music industry through blockchain technology, LoopNFT aspires to create a fair, transparent, and artist-centric ecosystem that benefits both creators and consumers.
Smart Contract links:
LoopNFT Smart contract