Musical piracy has been a headache in the industry ever since the early days of digital music distribution. People used to clone cassette tapes, CDs, and digital files, stealing revenue from artists around the globe.
The Dubplate Trade platform brings out a brand new concept for NFTs and musical exclusivity. Basically, each track, whether it is a complete, mastered piece, or a variation in production (VIP), is backed by a token, running on Ethereum’s ERC-1155 token standard. The token backing secures and certifies ownership over the piece of content, which is a common problem with underground artists.
An NFT can be considered as proof of ownership. For example, an NFT can prove exactly who owns a digital art piece, a property, or even the right to listen to a song.
Big labels and corporations have licensing agreements and a state-of-the-art royalty payment system, which tracks radio stations and compares their on-air program to excerpts of musicians’ songs. Dubplate Trade acts differently, ensuring exclusive access for underground artists, meaning their music would be only available on the platform and secured by an NFT.
The platform is also aimed at aspiring DJs and musical selectors, which want to diversify their sets and playouts with unique sounds, which belong only to the NFT holder. Also, people can gift and trade their musical collections, which brings back the exclusivity of original Dubplates.
NFT owners, as well as music creators, can use the platform to list, trade, and review NFT Dubplates, which are already available for sale.
Also, Dubplate Trade has a partnership program, which increases awareness and project following. The team behind the NFT exchange plans to launch additional outreach programs, which would widen the visibility of the application and its capabilities.
At the heart of the exchange is the DUB token, which would run on Binance Smart Chain with full BEP-20 compatibility. This way, Dubplate Trade ensures its NFTs and token would be easily integrated with third-party software and hardware products like wallets, exchanges, and data aggregators.
A total of 5 million DUB tokens would be in circulation, with 30% allocated to general token sales, while an additional 30% share is set for liquidity mining purposes. Project funding, music partnerships, blockchain partnerships, and presale will share a 10% portion of the total supply each.
Since the DUB token is BEP-20 compatible, it would be available for purchase through Pancakeswap on the Binance Smart Chain. The team also plans to list the DUB token on major crypto exchanges such as Binance, Coinbase, and KuCoin.