What is Muzix?
Muzix is a decentralized NFT marketplace, where semi-pro music artists can mint an NFT. Right, I hear you thinking: how many buzzwords in a sentence, so for enthusiasts, a little piece of technical background.
An NFT is a non-fungible token: an irreplaceable and non-exchangeable digital property certificate. You can create this certificate digitally and link it to a digital object, such as music. that record (mint) is then found on a blockchain (public database), which is linked to a personal digital crypto wallet.
With these technologies Erik Bazuin (41) is building a community of semi-professional artists. “Lesser known artists don’t get featured on major services like Spotify. In addition, they also do not earn enough money to live. We make sure that an artist always receives a percentage of the billing. Even if the NFT is resold again and again.’
“In addition, our platform offers artists the opportunity to easily split payments with co-creators. So you work with a co-producer, visual artist or influencer? Then split the profits (or royalties) based on percentages through our smart contract.
Erik Bazuin (41, photo right) studied Communication and Multimedia Design and worked for about six years as a Front-End Designer/Developer. In 2014 he began to start the business and in 2021 the time had come. Bazuin founded Muzix, which represents the ‘mix’ of the music world past and present.
Bazuin: ‘I’ve been making music in my proverbial attic for years. There I already experimented with the idea of a community platform, but that was surpassed by the big ones. Still, the idea didn’t let go of me. With the advent of the blockchain, split payments and royalties in mind, the pieces of the puzzle fell into place in 2021.’
Bazuin found a partner in the software company Reactive Space, which has the same interest in Muzix. ‘This partner has the same passion for music and thinks proactively with me. Together with a team of developers, I am working hard on the dream: to open up the music industry with an NFT market.’
Who is waiting for him?
Semi-professional artists who are looking for a stage and do not want to wait to be heard thousands of times, for a few euros. ‘Artists need a platform to make themselves known. Spotify is big, but musicians earn little from it.’
“Take rapper Dyl, for example. His song has been listened to 2 million times. Do you know what he gained from it? $6,000. When he started working with NFT, he turned it into $70,000. That’s the difference I’m talking about.
Also, according to Bazuin, the artist is getting closer to his fans with NFTs. ‘An artist has the opportunity to offer exclusive content and fans have the opportunity to purchase an NFT. What could be more fun than being in possession of an NFT from an artist who could break through? After all, such an NFT can be worth much more quickly. All this opens up a completely different market. I find that interesting.
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How far is Muzix?
In 2021, the startup focused on developing the platform. In June 2022, Muzix expects to launch the first functionalities, such as an app, minting, and buying and selling of NFTs. This is possible with the $mzx token, the native currency with which the artist can also earn extra royalties.
At the moment, Bazuin and his team are working hard to ensure that the market works technically well. ‘We started with artists from our own network. With DJ Virato we have received the first commitment. The other artists have yet to discover the benefits of this NFT world. In a next stage, marketing is needed for that.’
What is the revenue model?
Muzix earns a percentage of the transactions that take place on the platform. That’s 2.5 percent. The artist gets the platform, the server, the new developments and the marketing for that. For example, the startup aims to increase name awareness for artists with, among other things, competitions with record labels.
Do you still need money?
Yes. Until now, Bazuin built the platform with his own money, but as soon as Muzix goes live in June, more capital will be needed. How much exactly that is, Bazuin still does not want to say. “We realize that more is needed to push this startup further. For example, money is needed for marketing, development and community building†
‘Especially the latter is very important in the NFT market. An investor with a passion and network in the music industry would be ideal. The first two talks are already underway.