LOADING

Type to search

Melos, the First Music NFT Platform Implementing Lazy Mint

Melos.Studio, which introduced the very first music NFT platform, announced the implementation of Lazy Mint.

Lazy mint is great news for NFT minters because it saves costs and lowers the participation threshold. The first platform to bring in Lazy Mint is OpeaSea. Since then, OpeaSea users no longer need to pay gas fees during the minting process.

Users have been charged with gas fees to mint NFTs on the blockchain mainnet for quite a while because writing data to the blockchain requires gas fees to cover the calculation and storage costs. This may seem daunting for NFT creators, especially new NFT creators, because they may be unwilling to make upfront payment without knowing whether there will be anyone buying their works.

Melos Is the First Music NFT Platform to Implement Lazy Mint

In the past two years, Melos has been exploring the application of music NFTs, and working hard to build the music utopia for its users, such as the web3.0 creation method of the unique DNAtree and the implementation of Lazy Mint.

Melos implements Lazy Mint for the same reason as OpeaSea. Along with Melo’s development, it will inevitably attract more and more musicians to create, display, and sell their works on the platform. However, newcomers are not familiar with blockchain and are not sure whether they can sell any of their works. The upfront gas fee hinders creators from joining. At the same time, if the creator’s work is not acknowledged by the market in the short term, the high sunk costs will drive away many creators.

The functions, economic systems, and social-networking features of Melos have already taken shape. Even though Melos hasn’t fully displayed itself to the market, the fledgling Melos has already gone far beyond the past music NFT projects.

Lazy Mint’s Ecological Value to the Music NFT Industry

The music creation is continuous, but the market’s love for music may be paranoid, random, and one-sided. Users and investors are subjective, and thus their choices of music are kind of random, that is to say, musicians with lower popularity may not be able to see their NFTs being accepted by the market in the short term. Music creators need to create music NFTs of different styles and contents to cover the preferences of different users. Therefore, in the future, musicians on Melos will inevitably have continuous needs to mint different music NFTs.

However, if musicians must continuously make upfront gas fees before sale, it will increase the participation threshold and dampen their enthusiasm, especially for newcomers. They need a platform with a lower cost and a more intuitive way to create music NFT, which has never been solved by past music NFT projects.

However, because of Lazy Mint, Melos unties the Gordius knot. Even newcomers who know nothing about the blockchain ecology, can directly create music NFTs on Melos. This greatly reduces the participation threshold and paves the way to attract even the most talented musicians to join Melos.

Thanks to Lazy Mint, musicians can also try different music styles and contents at a lower cost.

Lazy Mint will Help Melos Become the No.1 Music NFT Project

Most NFTs in the market are collectable NFTs or game asset NFTs in Gamefi. The market seems not very enthusiastic about practical or commercial NFTs such as music NFT. However, this is the future of NFT and the gateway for NFT to enter the traditional Internet market in the future. Therefore, the music NFT is the cornerstone of the whole NFT industry, and as the top music NFT project, Melos’ value is self-evident.

Melos can directly integrate Lazy Mint into the music creation process, and musicians can enjoy the advantages and benefits of Lazy Mint even without feeling it. When the creator’s NFT is purchased, auctioned, or receives an offer to buy, etc., Melos will conduct the transaction. After the transaction is successfully completed, Melos will complete the automatic NFT minting and money transfer.

With Lazy Mint, the entire process of creation, display, and transaction for musicians is very smooth. In the future, the transaction payment system of Melos will integrate with Lazy Mint in depth, to serve more public chains and the NFT assets on them.

Creators won’t need to pay the gas fee of minting NFTs until they sell the first workpiece. The gas fee is included in NFT price, so NFT creators will never need to make upfront payment.


Photo by Jonathan Velasquez on Unsplash

Read More: MoonWhips Is All About Mental Health In The NFT Space

iMining Partners with GuildOne to Fulfill Net Zero Commitment with Tokenized Carbon Credits on Cardano

Tags:

You Might also Like

X
Share via
Copy link