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The first step of music NFT platform GodMusician, brought an attention. They held an airdrop event which immediately attracted nearly 300,000 people. It is reported that GodMusician (GOM) plans to make the largest music NFT DeFi community in the world. Musicians will earn direct rewards from uploading music works and presenting the music NFTs. It will be the new financial economic model such as Music Web 3.0, Music Metaverse and cryptocurrency.
The project is scheduled to release in August, and now it has unveiled a new mining mechanism for GMiner NFTs. At the beginning of the project, GOM tokens can only be produced through GMiner NFTs. It is currently on pre-sale and the pricing is available as an upgraded version of Auction.
GMiner NFT pre-sale: The selling price is calculated with the upgraded auction
In a general auction, the pricing is much higher than the beginner level of bidder imagined. The bidder gets chance when the price moves downwards. This kind of pricing process is difficult for all other new participants to enter the auction. These price-cut auctions allow buyers and sellers to win-win by selling products at the best prices accepted by the market.
However, GOM upgraded the original Auction model. GMiner pre-sales help to achieve a balance in domestic demand for investors and projects by upgrading the market and adjusting the price on both sides according to market conditions. This highlights the financial stability of the platform and the open and transparent mechanism of the blockchain.
GMiner NFT is not sold at a fixed selling price, but it is determined by the market conditions. Whenever a sale is made during the price reduction period, the selling price is increased to be adjusted. And if there is no sales volume for a certain period of time, the price reduction is applied again.
GMiner NFT defines prices according to market conditions and investors’ wishes, allowing investors to determine the best current market value. The upgraded Auction model allows for the fair pricing in the market, some degree of protection for investors, and ensures that token NFT sales are not affected by short-term market fluctuations. GodMusician has created another new economic model in the field of music NFT, and we are looking forward to its official launch in August!