Web3 music platform Public Pressure's first NFT project rakes in $2m 'within days' of release – Music Business Worldwide
Web3 music platform Public Pressure’s first official music and gaming NFT project in partnership with decentralized autonomous organization (DAO) Moonsama, generated $2 million in revenues in just days since its debut.
Public Pressure, which was originally launched in 2015 as an online community and magazine, recently rebranded as a Web3 platform, Pclaiming to power “a fair and equitable” direct-to-fan strategy for creators.
For its first project, Public Pressure teamed up with Moonsama to introduce music as a gaming utility for the first time inside the Moonsama gaming metaverse.
The PODs NFT collection comprised 3,333 limited edition NFTs that were sold for a fixed price of $600 apiece and contained unreleased music tracks by Merk & Kremont.
The collection was sold out ‘within 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 Monday (December 5) press release that Moonsama is the biggest community within the Polkadot blockchain ecosystem. It allows players to buy in-platform NFTs as utilities.
The company teamed up with Universal Music Group recording artists Merk & Kremont to create a series of ‘PODs’ or NFTs containing songs that users can use inside 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 the PODs, allowing them to play the purchased songs within the game
Public Pressure’s Web3 platform is also built on what it says is the “eco-friendly 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 of POS chains and joins 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 which utilize our ecosystem assets.The music NFT PODs are the perfect way to show cross project and cross metaverse utility. The first of its kind!”
Donnie Big Bags, Moonsama
Commenting on the alliance, Moonsama’s founder Donnie Big Bags said: “We already have a very strong community, in fact the largest in the Polkadot ecosystem. However, I’ve observed in the ‘Metaverse’ space there are a lot of projects only handling 50 people at a time on screen, giving a kind of ghost town feel. We’re building an ecosystem, not just a project and want it to feel populated.”
Bags added: “The plan is to attract more games to our network which utilize our ecosystem assets.The music NFT PODs are the perfect way to show cross project and cross metaverse utility. The first of its kind!”
“By bridging digital and physical worlds, we’re offering labels and artists a new way forward with innovative formats for their art.”
Sergio Mottola, Public Pressure
“By partnering with Moonsama, we’re bringing NFT music to the Moonsama Metaverse and gaming communities for the very first time. By bridging digital and physical worlds, we’re offering labels and artists a new way forward with innovative formats for their art. The success of this collaborative drop confirms our belief – that the future of music and culture consumption is on Web3,” says Sergio Mottola, President of Public Pressure.
Music Business Worldwide
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