WEB3 Music: How Does A Musician Get A Smart Contract

By Dwight Miller - June 10, 2023
WEB3 Music: How Does A Musician Get A Smart Contract

A smart contract is what powers your NFT, A smart contract allows transactions to happen automatically based on an event. So if someone sells your NFT and your smart contract includes a royalty for each sale, the contract executes and the royalty is sent to your ccount,

To get a smart contract as a musician, you can follow these general steps:

Choose a blockchain platform: Smart contracts are built on blockchain platforms like Ethereum, Cardano, or Polkadot. You need to choose a blockchain platform that supports smart contracts and has a strong developer community.

Hire a developer or use a smart contract template: You can either hire a developer to create a custom smart contract for your music business, or you can use a pre-built smart contract template. There are several websites that offer smart contract templates, such as OpenZeppelin, Truffle Suite, and Remix.

Define the terms and conditions: You need to define the terms and conditions of your smart contract, such as the royalty percentage, payment terms, and distribution of revenue. This will ensure that the contract is clear and enforceable.

Test and deploy the smart contract: Once it is created, you must test it thoroughly to ensure that it works as intended. You can use a testnet environment to test your smart contract before deploying it on the mainnet. You can deploy the smart contract using a smart contract deployment tool like Remix.

Integrate the smart contract with your music business: Once the smart contract is deployed, you need to integrate it with your music business. You can use the smart contract to automate certain aspects of your music business, such as royalty payments, distribution of revenue, or licensing agreements.

Overall, getting a smart contract as a musician requires some technical knowledge and expertise. You can either hire a developer or use a pre-built smart contract template to create a smart contract that fits your music business needs.