|Euler Beats||Music NFT||NFTs||on-chain||Treum.io|
Investors and collectors have paid $3 million in total for the 25 master records in the Euler Beats Enigma NFT series. The most expensive NFT was the Enigma LP 01, selling for $243.000. These master records give the owner 8 percent of the sales from each of the prints based on their record.
According to DappRadar the cheapest Enigma master record sold for $83.000, and at least one of those has already been sold on the secondary market with 100% profit. Some collectors seem to be very keen on obtaining a big collection of these Euler Beats prints and master records. A group of community members even create BeetsDAO in order to buy four master records as a group.
Euler Beat Enigma is the second series in the Euler Beats collection. While originally the master record were the first ones in the bonding curve, this time they were auctioned. As a result it’s likely that there will be less trading on the secondary market, as people had to buy in at a high price.
Euler Beats has been created by dev company Treum, which is backed by Consensys. Euler Beats is an on-chain generative audio NFT project. The 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 creates 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.