OCTAV3
OCTAV3 is a decentralized music streaming platform that connects artists, listeners and advertisers. We are building a web3 enabled ad engine to create a fairer relationship between all three stakeholders.
Project Description
Problem
The current music streaming model is broken. Platforms take huge cuts from artists, advertisers get access to user data and thereās absolutely no transparency in the whole process.
Mission
Align the incentives for all stakeholders involved.
Solution
A decentralised audio streaming platform; for the discovery of music by listeners and the distribution of ads to monetize this music.
The āAd Marketplaceā allows artists to sell advertising space during the playing of their song straight to buyers, with no middleman. The Ad space is an NFT that artists mint and put up for sale when they upload their song onto OCTAV3, the permissionless nature of the platform allows anyone to be able to buy and own this NFT.
Next step is allowing users that donāt want to see ads to subscribe to the platform by streaming the funds in real-time (per second) using Superfluid, we didnāt have time to implement this.
Looking Forward
In time we also hope to make the marketplaceās filters more sophisticated and allow advertisers to better target listeners, users will provide this data (age, country etc.) in exchange for our token, and ad buyers will need this token to buy ad space. Essentially advertisers will pay listeners for their data.
How it's Made
Built with Zora, Polygon and nft.storage (IPFS):
Front-end:
- Client built on Next.js with TypeScript
- TailwindCSS and Ant Design to design components
- Ethers.js for front-end interaction with smart contracts
- WalletConnect and Web3Modal to connect to Polygon Mumbai testnet
Back-end:
- We used Zoraās contracts to allow artists to mint/transfer a song NFT and an advertisement NFT
- All contracts are deployed on Polygon Mumbai testnet
- All the data (i.e. ad images) and metadata is stored and queryable on IPFS through nft.storage
