Circle in My Mind on Pianity
It took a few months of searching and learning but I’ve landed on a site called Pianity for music NFTs. Since many people still have a limited understanding of what a music NFT is, I feel it’s necessary to explain a bit of how Pianity works. I’m not going to break down basic information about NFTs because there are many resources out there that do a better job of explaining than I could. I want to give context of how this specific site works so that my community better understands why I’m involved.
Pianity is a music NFT marketplace and the music that’s available there is curated by the site’s users. This happens through a system where any artist can submit music, after which their submission must receive enough votes to be minted. If you’re not familiar with minting, in simplest terms, it means that the song is turned into an NFT. Once the song is minted, it is given a release date. It’s worth mentioning the concept of Editions; there are four possible Editions of a music NFT on Pianity:
- Unique – Edition of 1
- Legendary – Edition of 10
- Epic – Edition of 100
- Rare – Edition of 1000
On the day of the release, there is an auction for the Unique edition of the song. The auction lasts for 24 hours from the time of release and, currently only Pianity users can bid. Once the auction is complete, there is a chance for the song to be minted into further editions based on the final price of the auction. If the price of the Unique edition reaches a specific threshold, that triggers the minting of the other editions listed above.
You can read through the Pianity Helpdesk to learn more. I recommend that you also check out the Pianity Discord to learn more both from the team building the site and the users who are active in that community.
There is already a vibrant community of collectors and artists on Pianity. The music ranges through a variety of styles – off the top of my head, I’ve heard songs that can be described as hip hop, classical, R&B, techno, house, electro, chill, ambient, jazz, samba, trap, and flamenco. To my knowledge, there are no major label artists in the marketplace (and between us I hope they never show up), but that could change as the site continues to grow.
I have started to collect music on Pianity. You can see my budding collection and my original contributions to the marketplace on my Audio Soul Project Pianity profile.
My first music NFT is Circle in My Mind and it’s an exclusive release on Pianity forthcoming on March 15. It doesn’t cost anything to join Pianity and you can use my referral link if you’re interested.