Web3 music platform Public Pressure’s first NFT project rakes in $2 million “within days” of release
Web3 music platform Public Pressure’s first official music and games NFT project in partnership with Decentralized Autonomous Organization (DAO) moonsamahas raked in $2 million in sales in just a few days since its debut.
Originally launched as an online community and magazine in 2015, Public Pressure recently rebranded to a Web3 platform and advocates a “fair and equitable” direct-to-fan strategy for creators.
For its first project, Public Pressure has teamed up with Moonsama to introduce music as a gaming utility to Moonsama’s gaming metaverse for the first time.
The NFT collection of PODs included 3,333 limited edition NFTs, sold at a fixed price of US$600 each, containing unreleased Merk & Kremont music tracks.
The collection sold out “within days,” according to Public Pressure, and grossed $1.99 million.
Moonsama is an NFT ecosystem based on blockchain technology. It offers composable NFT collections, a range of Web3 assets and NFT marketplaces.
Public Pressure said in a press release Monday (December 5) that Moonsama is the largest community within the Polkadot blockchain ecosystem. It allows players to purchase in-platform NFTs as utilities.
The company has teamed up with Universal Music Group recording artists Merk & Kremont to create a series of “PODs” or NFTs containing songs for users to use within the Web3 gaming platform.
Each song by the Italian DJ duo unlocks special game features or “power-ups” within the Moonsama multiverse, such as immortality, speed, resources, enemy slowdowns or invisibility.
Players can also equip their characters with the PODs, allowing them to play the purchased songs in-game
Public Pressure’s Web3 platform is also based on the supposedly “green blockchain” Polkadot, the brainchild of Ethereum founder and Public Pressure investor Gavin Wood.
The blockchain is said to have the lowest total power consumption and the lowest CO2 emissions per year of the six Proof-of-Stake (POS) blockchains.
“Polkadot is the most robust, modular and secure of all POS chains, connecting all other blockchains into a unified network to enable the creation of smart contracts,” Public Pressure said in September.
“The plan is to attract more games to our network that use our ecosystem resources. The Music NFT PODs are the perfect way to demonstrate cross-project and cross-metaverse utility. The first of its kind!”
Donnie Big Bags, Moonsama
Commenting on the alliance, Donnie Big Bags, Founder of Moonsama said: “We already have a very strong community, in fact the largest in the Polkadot ecosystem. However, I’ve noticed in the Metaverse space that there are a lot of projects where there are only 50 people on screen at a time, which gives it a kind of ghost town feel. We’re building an ecosystem, not just a project, and we want it to feel populated.”
Bags added, “The plan is to attract more games to our network that leverage our ecosystem assets. The first of its kind!”
“By bridging digital and physical worlds, we offer labels and artists a new path with innovative formats for their art.”
Sergio Mottola, Public Pressure
“By partnering with Moonsama, we are bringing NFT music to the Moonsama Metaverse and gaming communities for the first time ever. By bridging digital and physical worlds, we offer labels and artists a new path with innovative formats for their art. The success of this collaborative drop validates our belief that the future of music and culture consumption lies on the Web3,” said Sergio Mottola, President of Public Pressure.
music business worldwide
https://www.musicbusinessworldwide.com/web3-music-platform-public-pressures-first-nft-project-rakes-in-2m-within-days-of-release/ Web3 music platform Public Pressure’s first NFT project rakes in $2 million “within days” of release