LoopNFT - Mint Your Melody, Own Your Legacy. Create, Mint, Sell and Earn Royalties, All In One Place

[bahauddin]

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

Project Goal:
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.

Ojectives:
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:

1. Software to create music loops
2. Empowering Artists: Enable artists to directly mint NFTs of their music, maintaining ownership and control over their intellectual property.
3. 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:

1. Click on connect wallet button
2. Connect TronLink wallet
3. Fill up the form of user profile and update the user profile
4. Click on upload button
5. You can put data for nft minting (NFT picture, audio , name, descriptions,price ,type (bidding,fixed price))
6. Click on upload button for NFT minting Confirm transaction from tronlink
7. Check Profile
8. Nft is visible on user profile and dashboard
9. If you want to buy nft with fixed price nft. Click on buy button Tronlink will open confirm the transaction
10. if you want to buy nft with bidding nft. Click on place bid button tronlink will open and confirm the transaction
11. Now NFT is in user profile

Project Details:
Methodology:

• 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.

Additional Details:

• 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

[Prince-Onscolo]

You are welcome, I saw pictures doing very well in nfts but I don’t see same energy in music nfts. What will be your contribution to the growth of music nfts?

[Nweke-nature1.com]

You submitted 3 projects last season then this season you have submitted 2 already and maybe another is coming to make it 3 , please more clarifications is needed, any updates about your previous projects?

[bahauddin]

I helped the team from MyOwnData, that was waiting hours on approval to submit. I think tron really has to improve that proces. The team was on BioTechX and didn’t had time to submit, because they where busy. SunnyDAO is the project where I worked on the most and LoopNFT is the project where I helped with the TRON wallet integration.

[josep.v]

Thank you for the message. The industry of music is growing with NFTs. However we get help from mentors and musicians to get support from small labels and artist with many followers. One of the biggest problem that we trying to solve is music rights and fan interaction. In the presentation we show all details. If you have any question, please let me know.

[bahauddin]

Thank you for the good questions. I put some new pictures that also shows the market of music. More and more artists see the value of using NFT for music. We working with our networks of small labels and artists to get traction and rolling out the product step by step.

If you have any technical question let me know. I integrated together with Usman the TRON smart contract and auction part.

[Prince-Onscolo]

oh OK I see, all the best

[manfred_jr]

Welcome to Season 5, the music industry is really a gold mine particularly here in Africa
Allowing artists to mint, sell, and earn royalties through NFTs is really a cool idea. But, are there plans to engage with the wider music industry and collaborate with known stars in the music industry?

[Okorie]

Welcome to season 5, after going through your project I have an important questions

(1) How will you ensure the security and authenticity of the music NFTs minted on LoopNFT, and how do you intend to prevent fraud and copyright infringement

(2) What are your plans for integrating LoopNFT with other music and entertainment platforms.

[josep.v]

Hi @manfred_jr and thank you for the questions. We are working with our first label in Singapore with the beta version. This helps to get feedback and make the product better. We have a good network in the music industry and we working with music universities and music influencers, we use this network to make the product populair in the music industry. In our presentation, you can see more about the strategy and the support that we have. If you have questions, please let us know🙏

[manfred_jr]

Thanks for replying, I did understand the part about working with music universities and music influencers cause this is almost like the heart of the music industry, but how about producers? I ask cause they’re just as closest to artistes as influencers.
Secondly, from your explanation one thing kept crossing my mind, outsourcing music talents, is there a plan to outsource music talents as your journey progresses?
Thank you!

[josep.v]

Thank you @Okorie for the questions:
(1) Music stored in ipfs and hash is completely incrypted so no one can download the music directly and TRC721 which is nft standard that make any music unique
(2) We are working with the first label in Singapore and have conversations with big companies like Mubert and universities like Berklee College of Music. This helps to integrate with other entertainmnet platforms but also get attention from musicians that just start their journey

If you have more questions, please let us know

[josep.v]

Thanks for the good questions. I have build in the past the software LiveLoop, a software where producers can make music loops. We have around 2k people that use the software. We connected the LiveLoop software with LoopNFT, so we gave the possibility to producers to make music and mint it direct. Also we using the 2k people in the database to make marketing for LoopNFT.

Next to that, we are part of several associations like the associationforelectronicmusic. Today I am in Amsterdam at the ADE, to present the product and of course make new connections.

We will not outsource music talent, because we are working with already a couple influencers in the music industry and they like to help. We want to be careful to push a lot of money just on marketing. We are making step by step more promotion for free, so we can invest more in the products😊

[manfred_jr]

This is really bullish to say the least, I’m an ardent music listener with 100 of hours of music listen so far this year, I once also tried my hands on production as a Jack of all trades. Your app does sound like the famous Fruity Loops, is there a plan in the works to maybe incorporate FL Studio somehow into your ecosystem? Thank you!

[Nana66419]

Welcome to season five.
For clarification sake. Artists who create music, can mint their music as NFTs on your platform, sell their music and still retain the rights to that music.

In order not to stream a music twice on youtube, i just download it and play it as much as i want offline thereby not wasting my internet data to listen to it online always. I know streaming this music online helps the artists to earn something but its not my fault if they upload it to a platform i can easily download.

Is your project in anyway designed to prevent me from downloading and playing these musics offline. And even if it does not prevent me from downloading it, is it designed in a way such that whether i play it offline or online, the artist earns something little.

Bit confused so i need clarification. Thank you and wishing you all the best

[Dominique]

Greetings, I liked ur project and had some questions on mind and idk if its asked before,

so if an artist wants to release something do they have to deal with copyrights as well? Or this question is for future? But still I really like the idea and it fits perfectly on artistry category

[BraveBran]

Just checked your project slides and some more details and I can say good job its such an hardwork and can’t imagine if you have uploaded it before maybe more earlier. Have you ever attended to previous seasons before? I’d like to see the roots of this one

[josep.v]

Thanks @manfred_jr

It’s nice that you mention Fruity Loops. I had a booth with them at the conference Super Booth in Berlin. Nice CEO! it can be very interesting to integrated them. A difference between Fruity Loops and the music software from LoopNFT, is that Fruity is for production focus, The LoopNFT software music is for live an instant recording.

What we want is to provide the whole process from making music, minting, sell/rent and getting royalties. If we can provide multiple ways to make music, it can be interesting to work with Fruity Loops👌

[josep.v]

Thank you for the reaction @BraveBran. To make everything clear, we never joined the TRON hackahon before with the product.

I am a musician and saw the need for having a music software for live performance. This is the reason why I build LiveLoop. After getting some good traction and having a database of 2k people, I want to improve the platform.

On 8 July 2023 I started with my team members the product LoopNFT and we joined the Polkadot hackathon (where we won the first prize) and the TRON hackathon at the same time. We want to create a multi chain music platform, where you can make music, mint, sell/rent and get royalties. Everything in one platform. We are a team with four people and worked almost fulltime the last months. We are a startup, and that’s maybe the difference. We worked very hard on the platform. We really want to help musicians and make the product scalable and ready.

It will be amazing if you want to support the product HackaTRON Season 5 - It's community voting time! - #4 by admin.hackathon

[josep.v]

Thank you so much @Dominique! Are you also a musician?

Regarding the question:
If artisit mint their music as a nft so it use trc721 standard of tron network which is for unique nft but for those countries which are not accepting blockchain rights artist needs a copyright for sure.

Hopes this answer your question😊