Skyhitz
Skyhitz is a next-generation recording label platform powered by smart contracts that enables users to discover, stream, collect and invest in music NFTs while providing transparent monetization for creators.
https://skyhitz.io/
Product Information
Updated:Nov 9, 2024
What is Skyhitz
Skyhitz is an innovative decentralized music platform that bridges the gap between artists and fans through blockchain technology. Built on Stellar's Soroban smart contracts, it serves as both a recording label and marketplace where music enthusiasts can discover new tracks, support artists directly, and even earn returns by investing in music NFTs. The platform aims to redefine music ownership and accessibility by giving artists full control over their creations while providing fans with transparent access to exclusive releases.
Key Features of Skyhitz
Skyhitz is a next-generation recording label platform powered by smart contracts that enables users to discover, stream, collect, and trade music NFTs. The platform combines blockchain technology with music streaming, offering artists a way to monetize their work through NFTs while providing fans opportunities to invest in and earn returns from the music they support. It features a unique money-based discovery system where engagement metrics like streams, likes, and downloads drive NFT values and charts.
Smart Contract Integration: Uses Stellar's Soroban smart contracts for efficient, low-cost transactions and transparent revenue distribution between artists and fans
Interactive Top Chart System: Dynamic ranking system based on APR (Annual Percentage Rate) generated from user interactions including streams, likes, and downloads
Simplified Wallet Setup: Easy digital wallet creation using just email, making it accessible for users new to blockchain technology
Investment Mechanism: Allows users to invest in music NFTs with as little as 0.31 XLM and earn returns based on the NFT's performance and interaction metrics
Use Cases of Skyhitz
Artist Monetization: Musicians can tokenize their work and earn revenue through streams, likes, downloads, and NFT investments
Music Investment: Fans can invest in their favorite artists' work and earn returns based on the music's performance
Music Distribution: Artists can distribute their music through blockchain technology while maintaining control over their creations
Fan Engagement: Listeners can actively participate in supporting artists while earning rewards for their engagement
Pros
Low barrier to entry with simple email-based signup
Transparent revenue distribution through smart contracts
Multiple ways for both artists and fans to earn
Cons
Requires understanding of cryptocurrency and NFTs
Platform success depends on active user engagement
Limited to users willing to invest in cryptocurrency (XLM)
How to Use Skyhitz
Create a Free Account: Sign up using just your email address to create a free account. Upon registration, you'll receive a public key for your wallet.
Fund Your Account: Transfer XLM (Stellar Lumens) to your assigned public key to fund your account for transactions.
Explore Music NFTs: Browse through the platform's collection of music NFTs via the dashboard, search function, or trending charts.
Interact with Music: Stream music (costs 0.1 XLM), like tracks (costs 0.2 XLM), or download music (costs 0.3 XLM). These actions lock XLM in the music NFT's smart contract.
Invest in Music NFTs: Invest a minimum of 0.31 XLM in any music NFT to earn a percentage of its future revenue from streams, likes, and downloads.
Create Playlists: Organize your favorite music by creating personal playlists for offline and background playback.
Track Investments: Monitor your investments through the APR (Annual Percentage Rate) generated by each NFT's revenue from user interactions.
Submit Music NFTs: For creators: Submit your music NFTs through the landing page by providing your email and a link to the NFT for review and potential listing.
Skyhitz FAQs
Skyhitz is a next-generation recording label platform powered by smart contracts that allows users to discover, stream, collect and trade music NFTs. It connects musicians, NFT enthusiasts, and music lovers through a decentralized platform where users can access exclusive music while empowering creators with transparent monetization.
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Analytics of Skyhitz Website
Skyhitz Traffic & Rankings
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Monthly Visits
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Global Rank
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Traffic Trends: Sep 2024-Nov 2024
Skyhitz User Insights
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Pages Per Visit
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Top Regions of Skyhitz
Others: 100%
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