PolkaMusic -> SuperMeta.Fi: An Evolution into a Next-Gen AI powered NFT Exchange
The sign of a great product is its ability to constantly evolve to meet the changing needs of community. When we first chalked out the concept of PolkaMusic, we set sight on transforming the lives of musicians around the globe, by enabling them access to instant royalties powered by decentralized control.
Our aim at PolkaMusic was simple, we wanted to connect artists with listeners, giving them a direct space to connect with each other. In the traditional model, record labels act as the intermediary between musicians and listeners, collecting royalties on behalf of the musician. However, this transfer of collected royalties isn’t instant. In fact, it is far from that. It could take years for a musician to get the royalties due to them, to a point where tracing and accountability go for a toss. To tackle this issue, we had developed an open source solution under a grant from Web3 Foundation and our music gaming app is currently downloaded by over 500k users.
Today, as we approach the crossroads of crypto evolution and global creator economy, we realize that we need to see the bigger picture. In addition to musicians, there are hordes of artists including digital illustrators, 3D artists, writers, performers etc., and we want to include all of them in our vision to bring a paradigm of living and earning through the NFTs and Metaverses, where artists could benefit from passive earnings from NFT transactions, earning them royalties for doing what they love to do and would have done anyway as a hobby.
We envision that this would be possible if we accelerate the velocity of art assets changing hands, thus generating more royalty for the original creator, while also letting them have a direct connection with fans. It is imperative to increase the total addressable market by becoming chain agnostic to support the major blockchains out there, in addition to several parachains on Polkadot & Kusama. As we step into this growth phase, we have decided to utilize a new name that represents the evolution of our progress.
The term SuperMeta.Fi is a portmanteau of the words Super (meaning above all), Meta (relating to the Metaverse) and Fi (relating to Decentralized Finance), thus meaning a Decentralized Finance provider covering the entirety of the NFTs and Metaverses.
NFTs are quickly gaining traction in the cryptosphere, but there’s a widespread issue of liquidity on the marketplaces with a fungible bid orderbook. As the Metaverse begins to emerge as a social phenomenon, the explosion in the variety of NFTs available is inevitable, and we believe there will be more interesting opportunities and enhanced liquidity if the orderbook were to be asset agnostic and includes non fungible asset classes in addition to fungible assets.
SuperMeta.Fi aims to increase the velocity of NFTs changing hands by redefining NFT liquidity. This is achieved by unlocking the ability to bid for an NFT with another NFT or combination of fungible and non fungible assets. Ultimately, this ensures that asset holders get the best deal, while also weeding out fake or dubious NFTs that have a questionable history by using smart AI-backed historical data analysis to provide a fair value appraisal.
PolkaMusic will continue to be under SuperMeta.Fi as a music category where you can Discover, Buy and Sell Music NFTs as well as interact with native music NFT collections via the PolkaMusic gaming app.
This is just the start, and we have a number of handy updates and features planned. Stay tuned for more detailed articles.
Meanwhile, join us in our journey to become the fastest, most affordable and utilitarian Superfunctional NFT Exchange by visiting our revamped website www.supermeta.fi and stay tuned to our social channels: