The Lyre livestreaming platform aims to combine the power of NFTs and streaming music. The idea is that up and coming indie/alternative bands, or any small musicians/bands can stream their performances live on Lyre. This is cheaper for those bands and we take less cuts than something like youtube. A lot of bands nowadays I have seen them streaming on sites like reddit because of the pandemic, they need a way to generate income and let themselves out, get their name out. A lot of popular streams on reddit are small bands, and people are very interactive on the chats. The idea of Lyre is to take this similar idea, but have a platform dedicated to streaming music, whereas reddit is anything. By using livepeer we allow artists to generate and take home more of their revenue. The other component is that during the stream, the artists can have a NFT marketplace below their stream videos, which will display a few NFTs they are selling during the stream, or giving away to live viewers. This makes it more interactive for the viewers and also helps to generate additional revenue for the bands.
We used react on the frontend. Then, we used ceramic for data storage, which uses IPFS underlying commit logs. We used IDX, which is built on top of ceramic, for user authentication and as an identity provider. We are also using livepeer video streaming for the main content of our app, and plan to use an NFT minting service to mint NFTs linked to IPFS but stored on the Ethereum mainnet.