Sound.xyz Minted 150,000 Music NFTs, Impressive Start On Optimism
Key Points:
- Sound.xyz recently announced the addition of support for Ethereum Layer-2 Optimism.
- The music NFT distribution platform minted more than 150,000 music NFTs on Optimism this month.
- The NFT minted on Optimism is almost the same as the number of music NFTs minted on Ethereum over the past year.
Sound.xyz is tuning in with the major Layer 2 scaling solution, Optimism, to address important Web3 industry challenges, such as high gas prices and sluggish transactions connected with Ethereum’s mainnet.
The music NFT platform Sound.xyz has acknowledged Vitalik Buterin, a co-founder of Ethereum, with a Eurodisco dance tune nicknamed “V-Buterin.” Importantly, the music is free to listen to till June 19 at 7:00 p.m. Sound.xyz, a Web3 music portal, provides it as a free-to-mint NFT for interested investors and NFT aficionados.
According to Dune analysis, since the announcement of Optimism’s debut on June 13, the music NFT distribution network Sound.xyz has minted more than 150,000 music NFTs on Optimism this month, which is about the same as the number of music NFTs minted on Ethereum over the last year. The majority of the mining comes from the V Buterin track NFT published by Optimism Collective.
Sound.xyz achieves a phenomenal 90% decrease in gas expenses by using the Optimism Layer 2 technology, which is a major success given that the rates have often surpassed the cost of the music. Moreover, as a result of this collaboration, transaction speeds on the music-centric NFT marketplace have increased sixfold, and collectors now have additional alternatives for paying for records, including credit cards, Mainnet ETH, and Optimism ETH.
Despite of this partnership, die-hard Ethereum supporters may still deploy their contracts on Ethereum’s Layer 1 mainnet, enabling music enthusiasts to gather and discover music across both chains. They must, however, spend Optimism ETH while purchasing music on Optimism, which is readily obtained by bridging monies with the official Optimism Bridge. Collectors may now pay using Mainnet ETH and get their music NFTs on the Optimism chain.
Moreover, Cherished artists Rae Isla and Sammy Arriaga will begin off their debut with their song “Heartbreak Closer.” Other artists expected to release songs this week include ROHKI, TK the Legend, Bloody White, Reo Cragun, Sara J Phillips, and Daniel Alla.
In a nutshell, Music and Optimism share a goal of supporting ecosystem contributors and innovators. This collaboration is just the beginning of Web3 development. Even better, Sound teases more intriguing upgrades and changes in the works.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Author
NFT
Sound.xyz Minted 150,000 Music NFTs, Impressive Start On Optimism
Key Points:
- Sound.xyz recently announced the addition of support for Ethereum Layer-2 Optimism.
- The music NFT distribution platform minted more than 150,000 music NFTs on Optimism this month.
- The NFT minted on Optimism is almost the same as the number of music NFTs minted on Ethereum over the past year.
Sound.xyz is tuning in with the major Layer 2 scaling solution, Optimism, to address important Web3 industry challenges, such as high gas prices and sluggish transactions connected with Ethereum’s mainnet.
The music NFT platform Sound.xyz has acknowledged Vitalik Buterin, a co-founder of Ethereum, with a Eurodisco dance tune nicknamed “V-Buterin.” Importantly, the music is free to listen to till June 19 at 7:00 p.m. Sound.xyz, a Web3 music portal, provides it as a free-to-mint NFT for interested investors and NFT aficionados.
According to Dune analysis, since the announcement of Optimism’s debut on June 13, the music NFT distribution network Sound.xyz has minted more than 150,000 music NFTs on Optimism this month, which is about the same as the number of music NFTs minted on Ethereum over the last year. The majority of the mining comes from the V Buterin track NFT published by Optimism Collective.
Sound.xyz achieves a phenomenal 90% decrease in gas expenses by using the Optimism Layer 2 technology, which is a major success given that the rates have often surpassed the cost of the music. Moreover, as a result of this collaboration, transaction speeds on the music-centric NFT marketplace have increased sixfold, and collectors now have additional alternatives for paying for records, including credit cards, Mainnet ETH, and Optimism ETH.
Despite of this partnership, die-hard Ethereum supporters may still deploy their contracts on Ethereum’s Layer 1 mainnet, enabling music enthusiasts to gather and discover music across both chains. They must, however, spend Optimism ETH while purchasing music on Optimism, which is readily obtained by bridging monies with the official Optimism Bridge. Collectors may now pay using Mainnet ETH and get their music NFTs on the Optimism chain.
Moreover, Cherished artists Rae Isla and Sammy Arriaga will begin off their debut with their song “Heartbreak Closer.” Other artists expected to release songs this week include ROHKI, TK the Legend, Bloody White, Reo Cragun, Sara J Phillips, and Daniel Alla.
In a nutshell, Music and Optimism share a goal of supporting ecosystem contributors and innovators. This collaboration is just the beginning of Web3 development. Even better, Sound teases more intriguing upgrades and changes in the works.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
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