Radiohead

Say goodbye to centralized streaming platforms and hello to a new era of community-driven music distribution.

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Inspiration

The music industry is consolidated around a handful of major streaming platforms which do not have the artist’s best interest in mind. Additionally, record labels essentially extract the maximum value by providing the initial investment for recording and promoting the artist. However, the earliest fans who believe the most don't get to share the artist’s later success.

What it does

We are creating a decentralised music marketplace, Radiohead, that allows artists to list their NFT songs and set their preferred revenue distribution, including artist, platform, and super-fans. Super-fans can mint limited edition NFTs representing a stake in future revenue and exclusive access, while regular fans can mint NFTs of songs as collectible mementos with cover art and audio stored on a decentralised network, IPFS.

How we built it

We have chosen to use ERC-1155 as a standard interface for managing fungible and non-fungible tokens. With ERC-1155, we can efficiently manage multiple types of tokens within a single contract. This means that we can take care of both super-fans token (limited NFTs) and regular fans (unlimited fungible tokens) within a single contract. This simplifies the overall system architecture and makes it easier to manage for users.

Key Features • Direct transactions between artists and fans • Revenue distribution options for artists, platform, and super fans • Limited Edition NFTs representing a stake in future revenue and/ or exclusive access • Collectible NFTs of songs with cover art and audio stored on the decentralised network IPFS • Full control and ownership of music for users

Challenges we ran into

One of the main challenges we faced was creating a user-friendly interface for the platform, as blockchain technology can be intimidating for some users. Also creating the architecture of the song in solidity was a bit difficult, because we had to use two song Ids (limited edition songId & unlimited edition) for a single song.

Accomplishments that we're proud of

We are proud of creating a platform that puts the needs of creators and fans first, offering full ownership and control of music to users. We are also proud of creating a community-driven approach to music distribution, allowing artists and fans to connect and benefit from each other's success.

What we learned

We learned about the importance of creating a user-friendly interface and a fair revenue distribution system that benefits all parties involved.

What's next for Radiohead

In the future, we plan to continue to improve the platform by adding new features, such as live-streaming events and merchandise sales. Get the contract audited and launch it on mainnet.

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