Yooshi is the next best thing on the Music scene. Courtesy of its non-fungible tokens (NFTs), Yooshidrops give you an ownership-driven alternative to music streaming services like Spotify or Apple Music.
Powered by the WAX blockchain, you can use Yooshidrops to collect digital vinyl from upcoming and established music artists. Simply put, you can own your most favorite digital record tracks, concert shows, or live streams and maybe even sell them at a profit.
What Are Non Fungible Tokens
Although the term may appear complex, non-fungible tokens are very easy to understand. Plainly put, NFTs are a unique and non-interchangeable unit of data stored on a digital ledger.
You can literally come up with an NFT to represent items that can easily be reproduced digitally, like photos, videos, or other digital files. To identify a certain NFT as yours, you have to rely on blockchain technology. Blockchain technology gives each item a unique digital print that can’t be replicated, hence the term “non-fungible.”
The Rise Of NFTS
Digital tokens are not as new as you might think them to be. Interestingly, the first NFT was minted in 2014. But NFTs only gathered public attention in March 2021. This was after the digital artist Beeple auctioned one of his art pieces at a Christie’s auction.
Now, only six years after their inception, the total sales value stood at almost $250 million. However, during the first quarter of 2021, the NFT market cap had hit almost $2 billion. NFTs had also attracted the favorable attention of prominent figures like Elon Musk and the Twitter Chief Jack Dorsey.
How Do You Get a Yooshi NFT
To get a Yooshi NFT, you first need to set up a WAX wallet. Wax is the blockchain that runs Yooshi. That said, once you have a wallet, you can buy WAX and store your NFTs safely on the blockchain.
You can work to get Yooshicoins, which are NFT versions of a cryptocurrency coin. It’s also possible to get Yooshicoins by making a direct purchase on the secondary market. You can also earn free ones during Yooshi’s airdrop events.
Alternatively, a lifetime membership can also get you some NFTs. With a lifetime membership, you can get monthly Digital Vinyl NFTs. This monthly digital vinyl represents your membership level.
Lastly, you can mine for your NFTs. This means you earn a per-hour rate of a token for holding NFTs in your wallet. You can then use this token to buy new or upgrade your existing NFTs. You can also trade the token or swap it for something else.
In a nutshell, NFTs are revolutionizing the music industry and the entertainment scene as a whole.
Courtesy of NFTs, audiences will have a chance to buy and sell content on the blockchain. The blockchain will also level out the playing field for artists. It will eliminate third parties and decentralize the digital marketplace so that artists can directly interact with fans, and fans can directly influence artists.