What is Muzix?
Muzix is a decentralized NFT marketplace where semi-professional music artists can imprint an NFT. Okay, I hear you thinking: what a lot of buzzwords in one sentence, so for the enthusiast a little bit of technical background.
An NFT is a Non-Fungible Token: a non-replaceable, irreplaceable digital ownership certificate. You can create this certificate digitally and attach it to a digital object such as music. the register (mint) you are then in a blockchain (public database), which is linked to a personal digital crypto wallet.
With these technologies, Erik Bazuin (41) builds a community for semi-professional artists. ‘The lesser known artists do not stand out on mainstream services like Spotify. In addition, they do not earn enough money to live on. We ensure that an artist always gets a percentage of the turnover. Even if the NFT is sold over and over again. ‘
‘In addition, our platform allows artists to easily share payments with co-creators. So you work with a co-producer, visual artist or influencer? Then you share the profits (or royalties) on a percentage basis through our smart contract. ‘
Erik Bazuin (41, photo right) studied communication and multimedia design and worked for about six years as a design / frontend developer. In 2014, entrepreneurship started to itch and by 2021 the time had come. Bazuin started Muzix, which stands for the ‘mix’ of the music world from past and present.
Bazuin: ‘I’ve been making music in my famous attic room for years. There, I was already experimenting with the idea of a community platform, but it was overtaken by the big boys. Still, the idea did not escape me. With the advent of blockchain, split payments and royalties in mind, the pieces of the puzzle fell into place in 2021. ‘
Bazuin found a partner in the software company Reactive Space, which has an equal interest in Muzix. ‘This partner has the same passion for music and thinks proactively with me. Together with a team of developers, I work hard on the dream: to open up the music industry with an NFT marketplace. ‘
Who’s waiting for that?
Semi-professional artists who are looking for a stage and will not wait until they have been listened to thousands of times, for a few euros. ‘Artists need a platform to become famous. Spotify is big, but musicians make a little profit from it. ‘
Take, for example, the rapper Dyl. His song has been listened to 2 million times. Do you know what he gained from it? $ 6,000. When he started working with NFTs, he converted it to $ 70,000. That’s the difference I’m talking about.
In addition, according to Bazuin, the artist gets closer to his fans with NFTs. ‘An artist has the opportunity to offer exclusive content and fans get the chance to purchase an NFT. What could be more fun than being in possession of an NFT by an artist who might break through? After all, such an NFT can quickly become much more valuable. All this opens up a whole different market. I find that interesting. ‘
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How far is Muzix?
In 2021, the startup focused on developing the platform. By June 2022, Muzix hopes to go live with the first features, such as an app, embossing and buying and selling NFTs. This is possible with the $ mzx token, the original currency with which the artist can also earn extra royalties.
Currently, Bazuin and his team are working hard to ensure that the marketplace works technically well. ‘We start with artists from our own network. With DJ Virato, we have received the first commitment. The other artists have yet to discover the benefits of this NFT world. In the next phase, marketing is needed for that. ‘
What is the revenue model?
Muzix earns a percentage on the transactions that take place on the platform. That is 2.5 per cent. The artist gets the platform, the server, new developments and marketing for it. For example, the start-up aims to increase name awareness for artists with, among other things, competitions with labels.
Do you still need money?
Yes. Until now, Bazuin has built the platform with its own money, but as soon as Muzix goes live in June, more capital is needed. How much that is exactly, Bazuin does not want to say yet. “We are aware that more is needed to push this start-up further. For example, money is needed for marketing, development and community building†
‘The latter in particular is very important in the NFT market. An investor with passion and networking in the music industry would be ideal. The first two talks are already under way. ‘