Only 5 months after its launch, Pianity has surpassed a million dollars in sales of music NFTs in one week. This success that we share and celebrate with the NFT community follows the creation of PianityDAO (Decentralized Autonomous Organization), a specific type of organization to the web3 which makes Pianity a music platform governed by its members.
While auctioned single-edition NFTs were sold over $65,000, several artists on the platform made more than $ 100,000 in revenue over the week.
A craze for NFTs reinforced by the DAO
Pianity became one of the first music platforms managed collectively by its members on November 25, 2021. Following this announcement, the community created around Pianity has grown with new members from around the world eager to contribute to the DAO.
There are more than 1,500 active members who can vote for NFT music submitted by artists, collectively decide to approve or reject the pieces, and receive a part of the benefits of the platform. Songs submitted to the DAO are integrated into a waitlist before being voted on and approved to be sold on the marketplace.
5,000 NFTs sold in a week and more than 1 million dollars redistributed to artists
Since the launch of the DAO, more than 5,000 NFTs have been sold on the marketplace, with auctions for unique editions exceeding $60,000. Thus, the single edition of the track “JET” by Mircica was sold during an auction for $63,852, summing more than $300,000 of revenues through different editions of this NFT. Several artists have received more than $100,000 of income, such as jazz pianist Sarkis Ricci with his NFT “Mediterranean Blues”, with more than $130,000 in income with an NFT of 100 copies sold between $5,640 and $564 euros.
In total, thanks to the economic model of Pianity where artists receive 80% of each sale, more than one million dollars have been redistributed to artists on the platform between November 26 and December 5, 2021.