SingSing, a community-driven platform that connects Superfans with their favourite singers, has launched an NFT Marketplace for music NFTs.
The platform aims to decentralize the music industry and make it more accessible to fans. The SingSing NFTs would become a medium of exchange as well as a direct form of interaction for artists and fans.
According to the BPI/ERA report 2020, though SuperFans only accounted for more than 10% of singers’ fandom population, their spending contributed up to 34% of the total music revenue.
For example, after many attempts, Quan Nguyen – a 23 year old. boy, with a big smile on his face, cheerfully held a cap that was freshly signed by his idol Lil’ Knight, a famous rapper that Quan had always admired. He just bought this cap for $25, which is 5 times the price of a similar cap on the market. To him, this was very special.
“This cap will be displayed at the best corner of my studio, so that I can always feel LK’s presence by my side” – Quan excitedly said.
Quan’s story is not rare, SuperFans like him are all around the music world.
These SuperFans have a great power that few people pay attention to. They make a perfect fit with NFTs and become an indispensable factor of this market. The NFT market has recently seen a tremendous annual growth of 4000% during 2021, surpassing 25 billion USD, cited by Reuters from DappRadar.
Remarkably, NFT Avatar and NFT Collectibles, which are SingSing’s target segments, are accounting for 70% of this total volume.
“We see this as a big new opportunity, which can be the new Internet to help the singers earn more revenue streams” – said Lil’ Knight, one of the first rappers to partner with SingSing.
SuperPass NFT
SingSing is building a blockchain platform to serve various SuperFan and singer communities, creating new opportunities for interactions, rewards, and earnings.
The key product is the SuperPass NFT – the powerful passport to enter the SingSing world. With this SuperPass, SuperFans can access private VIP areas with special privileges: private chat rooms, private live shows, exclusive contents, special merchandise, VIP tickets or join the frequent singing contests to win prizes.
Superpass holders can also enjoy many other benefits offered by the platform including staking, voting, NFT and token airdrops, lucky lottery, breeding and more.
Besides, SuperFans can buy and trade other types of music NFTs on the platform: Investment NFT (co-invest with singers for the upcoming music projects via micro-investment model), Content NFT (made from music audio, videos), Experience NFT (NFT to enjoy unique experiences offered by the singers such as a VIP ticket, a private dinner party, or a slot to appear in the next music video).
Every NFT on the SingSing platform is verified and co-published by the singers. 33 big names in South East Asia with more than 30 million followers have signed up exclusively with SingSing. Legendary singers Nhu Quynh, Tuan Hung, top rappers LK, Bray, DatManiac, Seachains, Phao, Hieuthuhai, famous singers Ngoc Khue, Khanh Linh are some of the pioneers, with more regional singers joining soon.
The founders of SingSing have been working in a team for almost 20 years. Together they built a series of booming technology, community and music startups with millions of users, including Nhacso.net, the first and biggest online music startup in Vietnam, NOI.vn – the biggest dating community with over 1 million users. They also founded Okara, a leading online karaoke network with 1,400,000 user base and is constantly adding 500,000 new members every year. All of them are being integrated into SingSing.
The founders are the technology champions. They proved themself in the past with the champion cup in Asia-Pacific ICT (APICTA) award, and recently won the champion cup in Community-2-Blockchain Hackathon Vietnam in 2021 with SingSing.
SingSing is backed by leading investors in the blockchain world, including HUB Global, TomoChain, Kyber Ventures and Funverse.
“Music is always a big global market, we believe SingSing will contribute to the growth of blockchain to gain mass adoption. The team has proved their ability to build a massive community. We strongly support the project and work closely with them to help bring great values to the community.” said Long Vuong – founder of TomoChain, advisor of SingSing.
SING token
SingSing has a native token called SingSing token (“$SING”). $SING will be used for a number of purposes including voting, breeding, NFT trading, rank improvement, governance and staking for rewards. Users will need $SING to enter the higher community zones and singing contests.
Users may earn $SING and NFTs by completing the quests in the SingSing platform or by winning the singing contests. SingSing’s philosophy is “Sing together, win together”, which will make everyone happy when joining the community.
