Concept of Cryptocurrency
People want freedom. Be it mental or freedom of speech or financial.And it is the source of the concept of cryptocurrency.The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software.After the revolution, many companies legally issued their own cryptocurrencies.Just as money is transferred through a bank, so is cryptocurrency transferred through a blockchain. However, the difference is that digital currencies are centralized, which means that transactions within the network are regulated in a central location, such as a bank. Cryptocurrencies are largely decentralized, and regulations within the network are regulated by the majority of the community.As a result, anyone can transfer money anonymously.
Concept of NFT
A non-fungible token (NFT) is a unique and non-interchangeable unit of data stored on a digital ledger (blockchain). NFTs can be associated with reproducible items such as photos, videos, 3D models, audio, and other types of digital files as unique items (analogous to a certificate of authenticity). NFTs use blockchain technology to provide a public proof of ownership. Copies of the original file are not restricted to the owner of the NFT, and can be copied and shared like any file. The lack of interchangeability (fungibility) distinguishes NFTs from blockchain cryptocurrencies, such as Bitcoin.
Concept of EIGNE
Music is a form of art.We all listen to more or less music.But it is often the case that musicians are not getting a fair price for their work.If a musician shares their paid music on a good platform, the platform charges a high % from sale also most of the time the music is easily leaked. As a result, the artist gets some money by selling his whole.This is why musicians need a platform where they can get their fair share and there will be no third party fees or leaks. Eigne has come to us in pursuit of this need.
What is EIGNE?
Eigne is a decentralized market and streaming platform where musical artist and producers can sell albums or singles as NFT. Anyone can use our platform to convert their audio to NFT and trade with it.Since NFT uses blockchain, it does not require third party intervention.People who hold Eigne NFTs can share there acquired NFT on our Music streaming platform and earn royalties from listeners.As a result, music artists will get the value they deserve.In this way Eigne will help independent producers to do better.
How to deal with EIGNE NFT
Anyone can trade their musical NFT on our platform, be it a holder or an artist.Artists will be able to convert their audio or video to NFT and add it to our market for sale.Users will be able to offer as per their choice or purchase from artists at a fixed price.If anyone wants to use Eigne platform, they must use Eigne’s official currency,EigneToken($EIT).Users can buy NFTwith $EIT and artists will get the price of their product as $EIT.The artist can sell an NFT to one person or to many people depending on the type of NFT.If one buys NFT, he will get holder ship of that NFT, but the ownership will be with the creator only.Whenever the holdership changes, a portion of the final NFT value goes into the creator’s wallet.This is how artists get value for their creations.
EIGNE Token
EigneToken ($ EIT) is the official cryptocurrency of the Eigne platform that uses the BSC .Anyone can use $EIT as a daily exchange medium.Traders can trade both short-term and long-term with that EIT.Eigne have reduced gas fees so that anyone can exchange or buy goods using $EIT without any hesitation.Also, like other cryptocurrencies, anyone can use it anonymously.
Musical Platform
Eigne Music is also a music streaming service that gives Eigne token holders access to all songs shared on Eigne Market. Users can listen to tracks owned by NFT holders, without having to buy or hold the file on the device. NFT holders who share their music can mint the new EigneToken every time the track is streamed.
Copyright Issue
Since NFT is an innovative model of the BEP20 blockchain, once an artist converts his song to NFT, there will be no copyright issues. Musicians at Eigne can easily approve and manage their music copyright in the public ledger. By not involving intermediaries during the promotion process, the rights holders can automatically and instantly receive a large portion of the royalty payments from the music industry.
Conclusion
Since NFT is new, there are several marketplaces for NFT sales and the amount of musical NFT marketplaces is less than other segments.So it is very important to have such a decentralized marketplace.Our team is working hard to make our project a reality in front of you very soon.It will be a revolution for musicians and cryptocurrency holders