|Euler Beats||Music NFT||NFTs||on-chain|
After their successful February launch, Euler Beats will sell their second NFTs series Enigma on Monday. The master records of their Enigma series will sell through an auction. In total there will be 27 Enigma LP master records, and each of them comes with a maximum of 160 prints.
These music NFTs come with new artwork and, obviously, new music. However, what’s really new is the selling model. Originally the 27 master tracks sold for 0.271 ETH (excl. gas fees). It didn’t take long for collectors and investors to buy them on the secondary market for 300 ETH, or approximately 458 thousand dollars. Now they will be auctioned.
Euler Beats has been created by dev company Treum, which is backed by Consensys. Those interested can already listen to the music, but the ones they’ll buy will be slightly different. The true master record will be generated based on data from the transaction it’s purchased on.
Euler Beats is an on-chain generative audio NFT project. These master records give the owners commercial rights to the music, and in addition they receive 8 percent royalty on every copy sold from that particular song. However, at any given moment a buyer can burn their print, and receive the 90% of the latest purchase price. This gives early birds an investment edge, but also created true scarcity and value.
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Robert Hoogendoorn is a gamer and blockchain enthusiast. He got in touch with crypto in 2014, but the fire really lit in 2017. Professionally he’s a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He’s a content manager and creator at heart, working on Play to Earn and for a variety of third party magazines and websites.