Create 2 earn, Open the new era of crypto & music NFT -
This content is written by @glow_dao Research Team wenser (Twitter@wenser2010). For learning and communication purposes only, it does not constitute any investment advice. DYOR, NFA.
1. Basic Information -#
Project Name: [Element.Black]
Data: Currently, ELT tokens are on public sale, and NFT is expected to be released on 4.18, platforms - Binance and ERC.
Team: Led by overseas hedge fund @JKL, many Hollywood stars have joined.
Team Composition, Source:
https://discord.com/channels/893123687409156146/951471271063994368/953255122887131166
Ecology: Create to earn + Music blind box element synthesis NFT + Staking to earn more rewards. From the perspective of tokens, the earlier you participate, the more advantages you have. From an ecological perspective, it is likely to become a window and an attempt to open up the music NFT track.
Operation Strategy: a. Obtain whitelist and mint music NFT blind boxes; b. Participate in secondary and token trading based on the amount of funds.
Funds Preparation: Start with 300U and increase moderately based on capital and risk tolerance.
Project Rating: A-level
Twitter: https://twitter.com/ELTblack
Discord: http://discord.gg/elementblack
Website: https://www.element.black/
2. Development Process -#
When it comes to the X2earn model, what comes to your mind? Move? Play? Sing? Or something else? Perhaps you are already tired of many Ponzi games on the market that claim to be "X2earn" but are actually "mining and selling". However, now, the ELT platform comes to us with a new "create to earn" model. Let's learn about it together.
On July 21, 2021, ELT's official Twitter account posted its first tweet, in which it mentioned the application scenarios of the "ELT" token: 1) Game development; 2) NFT art production and trading; 3) Entertainment IP incubation; 4) Decentralized finance; 5) Public chain. Subsequently, based on this ecological model, it embarked on a new journey.
On October 13, 2021, ELT's official Twitter account released the latest news that the Discord community was officially established. From then on, the latest information about ELT was not only shared externally but also started to build its own community ecosystem, attracting and empowering more community members. As of now, there are already 14,000+ community members who communicate here about creation, music, and the power of crypto.
After that, ELT started its large-scale external cooperation and promotion. It not only frequently distributed tokens for activities but also actively responded to external calls, and the CEO actively conducted AMA communication.
On the last day of 2021, ELT's official Twitter account announced a collaboration with renowned Japanese animation producer Gohzu Haruna. In 2022, ELT continued its development. On January 12, it announced an official collaboration with legendary musician Akon. Subsequently, ELT's official NFT series community and name were changed to ELT x AKON's NFT, which clearly shows the project's ambition and confidence in entering the entertainment field and the socialfi NFT co-creation platform Pixel-Infinity. Naohiko Kishi, CEO of the Tokyo Art Expo, joined ELT as a partner, providing strong background support for the project's artistic resources.
On March 10, the first music NFT lottery giveaway started. With a catchy rhythm, catchy lyrics, and a lively lion image, it is unforgettable. Specific tweet:
After that, the ELT project collaborated with a series of well-known communities, including but not limited to alpha shark, 404notfound, .bit, NFT pioneers, TSA, 8848, Glow DAO, etc. Moreover, the ELT project has different degrees of cooperation with OKEx and Binance, greatly enhancing the recognition of cryptocurrency exchanges and players in the cryptocurrency field.
Recently, on April 16, the ELT project brought together many top Chinese communities in the cryptocurrency field for a joint AMA, discussing hot topics such as the music NFT track, ELT project highlights, and the future development direction of music NFT, attracting widespread attention.
Now, the sale of ELT music blind box NFT is imminent. It is understood that each blind box contains an audio produced by hip-hop artist and top-level idol Akon and an avatar component. Holders can participate in fusion gameplay to earn ELT tokens. After 9 months of hard work, the richer ecosystem is also about to set sail.
Finally, let's talk a little about my personal views on music NFT.
3. The 3 Challenges that Music NFT Must Overcome#
As we enter 2022, many people have high hopes for music NFT, believing that it will become another emerging track in the NFT field after PFP. However, the performance of sound, gala music, melos, KOLO, and even music NFT on Opensea has been lukewarm. In my opinion, this fundamentally boils down to three points:
*1. The established pattern in the music copyright field: Major music copyright giants like Sony have little interest and motivation for web3 transformation and crypto exploration. After all, the current music copyright model is more favorable for their control of discourse.
*2. The issue of interest distribution in the brokerage model: The reason why the music industry has not been "NFTized" like avatar NFTs or art NFTs is due to the difference in the interest distribution model under the brokerage system. Brokerage companies hold the discourse power in this industry, and until a reasonable interest distribution model among "platform-musician-brokerage company" is explored, this will remain a direction that is put on hold.
*3. The paradox of the music industry and music NFT: It is necessary to ensure the income of creators as much as possible while achieving widespread circulation and promotion. Although music NFT can serve as proof of ownership, it still cannot solve the inherent problems of the industry. Between "reaching more people and being sung" and "earning more money," both musicians and brokerage companies may not be able to make a consistently effective choice.
Now, ELT x AKON's NFT may be able to open up a "new pattern" for music NFT through "music staking mining," "blind box/collecting PFP element combination NFT staking mining or selling," etc.! Let's look forward to it together!
**END.**
Further Reading:
