Home AI Music platform Web3 Public Pressure’s first NFT project raises $2 million ‘inside days’ of launch

Music platform Web3 Public Pressure’s first NFT project raises $2 million ‘inside days’ of launch

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Music platform Web3 Public Pressure’s first NFT project raises $2 million ‘inside days’ of launch

Source: news.google.com

The first official music and gaming NFT project from Web3 music platform Public Pressure, in partnership with decentralized autonomous organization (DAO) Moonsama, generated $2 million in revenue in just days from its debut.

Originally launched in 2015 as an online community and magazine, Public Pressure was recently rebranded as a Web3 platform, claiming to drive a “fair and equitable” direct-to-fan strategy for creators.

For their first project, Public Pressure partnered with Moonsama to introduce music as a gaming utility for the first time within the Moonsama gaming metaverse.

POD’s NFT collection comprised 3,333 limited-edition NFTs that sold for a fixed price of $600 each and contained previously unreleased music tracks from Merk & Kremont.

The collection sold out “in a matter of days,” according to Public Pressure, generating $1.99 million in sales.

Moonsama is an NFT ecosystem powered by blockchain technology. It features composable NFT collections, a range of Web3 assets, and NFT marketplaces.

Public Pressure said in a press release on Monday (Dec 5) that Moonsama is the largest community within the Polkadot blockchain ecosystem. It allows players to purchase NFTs on the platform as utilities.

The company has partnered with Universal Music Group recording artists Merk & Kremont to create a series of ‘PODs’ or NFTs containing songs that users can use within the Web3 gaming platform.

Each song by the Italian DJ duo unlocks special in-game features or “power-ups” within the Moonsama multiverse, such as immortality, speed, resources, slowing down opponents, or invisibility.

Players can also equip their characters with PODs, allowing them to play purchased songs within the game.

Public Pressure’s Web3 platform is also based on what it says is the “green blockchain” Polkadot, the brainchild of Ethereum founder and Public Pressure investor Gavin Wood.

The blockchain is claimed to have the lowest total electricity consumption and carbon emissions per year of the six proof-of-stake (POS) blockchains.

“Polkadot is the most robust, modular and secure POS chain and unites 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 the assets of our ecosystem. Music NFT PODs are the perfect way to showcase utility between projects and metaverses. The first of its kind!”

Donnie’s Big Bags, Moonsama

Commenting on the partnership, Moonsama founder Donnie Big Bags said: “We already have a very strong community, in fact the largest in the Polkadot ecosystem. However, I have observed that in the ‘Metaverse’ space there are many projects that only manage 50 people on screen at a time, giving a sort of ghost town feel. We are building an ecosystem, not just a project, and we want it to feel populated.”

Bags added: “The plan is to bring more games to our network that use our ecosystem assets. Music NFT PODs are the perfect way to showcase the usefulness of cross projects and cross metaverses. The first of its kind!”

“By bridging the digital and physical worlds, we are offering record labels and artists a new way to move forward 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. By bridging the digital and physical worlds, we are offering record labels and artists a new way to move forward with innovative formats for their art. The success of this collaborative launch confirms our belief: that the future of music and culture consumption is on Web3”, says Sergio Mottola, president of Public Pressure.

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