Sound.xyz recently announced a transformative change to its rewards system, introducing a novel model that ensures artists and curators earn substantially from each music nft.
Under their new initiative, artists benefit significantly, earning a portion of Mint fees for each Mint, whether free or paid. Artists you will now receive 0.000222 eth ($0.50) for free mints and 0.000555 eth ($1.20) for paid mints per referral, along with 100% of sales.
A spokesperson for music marketplace Web3 emphasized this change, stating, “We believe artists should earn rewards for every mint”:
Introducing the protocol rewards:
This is our opportunity to build things differently.
A music platform that shares with the community and grows together.
-> Artists earn with every mint (free and paid).
-> Curator rewards are increased by 10 times for sharing music.— sound.xyz (,) (@soundxyz_) December 21, 2023
Innovate in the music industry with equitable rewards
As Sound.xyz transitions from percentage-based rewards to a fixed protocol-level cut, curators will experience a notable shift in their compensation structure. As a result of this change, music sharing rewards are increasing almost tenfold at most mints.
During this reward restructuring, the music market will ensure that artists are not affected. The increase in rewards for both artists and curators is due to a reduction in Sound's broadcast fee, safeguarding artists from any financial impact amid these modifications.
Despite ongoing experimentation, Sound.xyz remains steadfast in fostering a loyal community of creators and curators. Through Sound.xyz Artist Rewards, the platform is committed to revolutionizing the music industry by providing a space where artists and curators receive equitable rewards for their contributions.
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*All financial/investment opinions expressed by nft Plazas come from the personal research and experience of our site moderators and are intended to be educational material only. People should thoroughly research any product before making any type of investment.
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