The Musician Marketplace
The Musician Marketplace Review?
The Musician Marketplace is registered in the United States. It was founded in 2018 by an American/Egyptian musician and entrepreneur Ramy Adly. The NFT portal is built on Ethereum and relies on the ERC-721 protocol.
Since its inception, the music nft portal claims to have garnered the trust of hundreds of clients and companies including Netflix, The John F. Kennedy Center for the Performing Arts as well as the U.S. Department of State.
What is an NFT Marketplace?
An NFT Marketplace is a marketplace for NFT. So far so good. But what is an NFT?
NFT is an acronym for “Non-Fungible Tokens”. Something which is fungible is replaceable. For instance, one kilo of 24 karat gold is – at least in theory – replaceable with any other kilo of 24 karat gold. When something is non-fungible, it means that it is unique, and not replaceable with any other item out there.
Although NFTs are conceptually similar to cryptocurrencies, these digital assets might represent antiques & artworks, collectables like trading cards, and other items with unique features. These tokens are stored cryptographically in a blockchain network for authentication and validation. Even when transacting, each token is sold as a whole, unlike cryptocurrencies which are divisible into smaller units. NFTs lose their value when split into smaller portions, however, they can be duplicated by the artist and each additional copy can be sold separately (but the total number of duplicates will then always be known).
The Musician Marketplace Focus
The name of this platform makes it very obvious that this NFT marketplace focuses on music. It welcomes musicians, producers, singers, composers and music teachers. Artists can sell their original musical compositions to clients as well as teach visitors from more than 70 countries. It also acts as a portal for music lovers to hire musicians. Musicians can list multiple services like songwriting, vocal performances, tutoring sessions (via skype), session musicians and live performances.
The Musician Marketplace Fees
When you make a trade at an NFT trading platform, they charge you with a commission. The commission is normally a percentage of the sale amount in the relevant trade.
The Musician Marketplace however does not charge any commission. Instead, it charges an annual subscription fee from artists. The subscription plan costs USD 130 per year.
Layout of The Musician Marketplace
Different NFT Marketplaces present their NFTs, the latest bid and the remaining time of an auction etc. in different ways. What you are most comfortable with viewing and using is up to you and no one else. The following picture is a print screen from The Musician Marketplace.
The Musician Marketplace Payment Methods
A few of the NFT Marketplaces out there accept deposits and payments via credit or debit card, and some even accept PayPal deposits.
The website mentions that payments can be made using Bitcoin and other cryptos. However, there was no mention of fiat being an acceptable payment method. We could not find any mention that the portal supports credit/debit cards or PayPal.