NFT Platform for Sharing and Selling Music Royalties

The client from the UK approached the Requestum team with an idea and initial designs for an NFT music platform. The goal of the platform was to give more opportunities to mid-market artists by removing labels and other intermediaries. With this platform, artists can easily get additional funding from their fans, while fans can profit from the royalties they buy during the license period. All payments are secure, as shares are only sold as NFT items. The platform also aims to build a stronger bond between artists and their fans.

Challenge

When creating the platform, the Requestum team faced several important challenges:

Choosing Technology

We had to decide whether to use existing tokenization platforms or create our own smart contracts for NFT shares.

Comprehensive Payments

It was essential to ensure that all royalty payments to fans included data from every streaming service, even less popular ones like Tidal or Deezer. This required a system for collecting accurate, up-to-date streaming information from many sources.

Solution

To solve these challenges, we used our deep expertise and took a careful, step-by-step approach:

We organized several workshops with the client and our tech team. These sessions helped us understand the music industry and define the best plan for development.
Based on these discussions, we chose to develop proprietary smart contracts , which gave us more flexibility and allowed us to build features and payout options tailored to the client’s needs.
For handling streaming and royalty data, we integrated a royalty accounting platform API . This tool automatically gathers all statistics, plays, and payout data for each track from all supported streaming services, ensuring accurate calculations for each user.

Discovery

Custom Contract Development

Royalty Data Integration

Features

To solve these challenges, we used our deep expertise and took a careful, step-by-step approach:

Authorization

Users can register or log in to the Platform via MetaMask only. This action is required so they can buy Shares and receive the payouts from the Shares they have bought.

Tracks Grid

This page is accessible for registered users only. They can view information about the shares they own and their total earnings data through the Dashboard and withdraw the payouts they have earned from their shares.

Tracks & Earnings

Track’s Page

On the track’s page, users can listen to a part of the track, find information about the track, its author, and the track’s revenue. If the users are interested in buying shares, they can do it on this page via MetaMask.

Invest

By investing, users can buy the rights to the defined royalties part for the license term. Only registered users can invest, and this can be done through MetaMask (a blockchain contract). This implementation is made for security purposes.

Payouts

Every month, the Super Admin processes payouts to shareholders through special smart contracts, ensuring transaction safety. Shareholders can then withdraw their earnings from the platform.

Upload Track

Here, Super Admins can upload new tracks and covers, set the license timeline, number of shares, price per share, and royalty percentage per share. They can also gift shares during this process.

Tech Stack

Frontend

React.js

TypeScript

ViteJS

GraphQL

Tailwind

Web3

Solidity

IPFS

Ethers

DevOps

AWS

Backend

Node.js

Blockchain

Web2

Nest

React.js

PostgreSQL

AWS S3

Docker

Results

As a result, the Requestum team delivered a modern NFT platform that offers real value for both artists and fans. The solution uses blockchain and NFT technology to make all payments transparent and secure.

The platform is now live in production for alpha testers and has shown good adoption so far. The client plans to use revenue from the new app to invest in further development.

If you are looking to build your own NFT or blockchain-based platform or want to turn an innovative idea into a working product, get in touch with Requestum. We’re ready to help bring your vision to life.