Skyhitz Introduction
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.
View MoreWhat 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.
How does Skyhitz work?
Users can create a free account with just an email to get started on Skyhitz. The platform operates through a unique system where interactions with music NFTs drive value - for every stream (0.1 XLM), like (0.2 XLM), or download (0.3 XLM), funds are transferred to a smart contract and locked in escrow associated with that music NFT. Users can invest a minimum of 0.31 XLM in any music NFT to earn a percentage of its future revenue, with returns based on the Annual Percentage Rate (APR) generated by each NFT's revenue through user interactions. The platform features an interactive top chart where music NFTs rise based on their APRs - higher engagement leads to higher visibility. Artists can submit their music NFTs for review through the landing page, and if accepted, they receive rewards.
Benefits of Skyhitz
Skyhitz offers multiple benefits for both artists and fans. Artists gain direct monetization of their work through streams, likes, and downloads while maintaining control over their creations. Fans can not only enjoy music but also earn returns by investing in music NFTs they believe in. The platform's low transaction fees (as low as 0.01 XLM) ensure that more value goes to creators and investors. Additionally, the transparent, performance-driven ecosystem creates a fair discovery system where success is determined by genuine engagement rather than traditional gatekeepers. The platform also offers features like free music downloads and offline listening, making it convenient for users while fostering a sustainable music ecosystem.
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