Skyhitz

Skyhitz - Recording Label with Smart Music Contracts is a decentralized, next-gen music platform powered by smart contracts that lets fans, collectors, and creators discover, stream, and invest in unique tracks. Built on blockchain technology (notably Stellar and Soroban), it aims to redefine music ownership, transparency, and monetization by enabling direct artist-to-fan interactions and low-cost, fast transactions. The platform supports music streaming, collection of music NFTs, fractional ownership, and an on-ramp for Lumens (XLM) via email-based onboarding, all designed to empower creators while giving fans a stake in the music they love.

---

How Skyhitz Works

1. Free account setup: Create a Skyhitz account with just your email. You receive a public key to fund with XLM.
2. Music streaming and interactions: Each stream, like, or download associates a small amount of XLM with the corresponding music NFT, locked in escrow via Soroban smart contracts.
3. Investing in music NFTs: Users can invest a minimum amount (e.g., 0.31 XLM) to earn a share of future revenue from streams, likes, and downloads. Returns depend on the Annual Percentage Rate (APR) of each NFT.
4. Dynamic charting: NFTs rise or fall on a chart driven by APR, increasing visibility as engagement grows.
5. Submit music NFTs: Content creators can submit their NFTs by providing an email and NFT link for review and potential reward.
6. Soroban-powered transactions: Stellar’s Soroban smart contracts power fast, low-cost processing (fees as low as 0.01 XLM per transaction).
7. Rewards for participation: Fans can earn returns on investments and rewards through engagement, making participation economically meaningful.

Key Concepts

• Music NFTs can be discovered, collected, and shared across networks via a unified platform.
• Fractional ownership allows fans to invest in portions of tracks and earn a share of revenue.
• A money-based discovery model drives charts by real engagement and investment rather than traditional popularity metrics.
• All payments and interactions are processed through Soroban, enabling efficient and affordable transactions.
• The platform emphasizes fair compensation for artists while offering fans tangible upside.

Features

• Free account setup with just an email
• Music streaming, likes, and downloads locked in escrow via Soroban contracts
• Invest in music NFTs with fractional ownership (earn revenue APR)
• Dynamic APR-based charts to reveal top-performing NFTs
• Submit music NFTs for listing and rewards
• Low-cost, fast transactions powered by Soroban (as low as 0.01 XLM per transaction)
• Cross-network discovery and collection of music NFTs
• Rewards and incentives for fans who participate (investing, streaming, liking, downloading)
• Easy XLM top-up and wallet integration via email onboarding

How to Use Skyhitz

• Create an account with your email and fund your public key with XLM.
• Explore music NFT collections and engage with tracks (stream, like, download) to accrue escrowed XLM tied to each NFT.
• Invest in music NFTs to earn a share of ongoing revenue based on APR.
• Submit your own music NFT for listing to gain exposure and potential rewards.
• Track APR-driven charts to discover trending NFTs and potential investments.

On-Ramp and Global Access

• Stellar-based on-ramp enables instant Lumens (XLM) delivery to Skyhitz accounts using only an email.
• Global availability with minimal barriers to entry and low processing fees.

Safety, Privacy, and Compliance

• Transactions rely on blockchain-based escrow and smart contracts for transparency.
• Ownership and revenue sharing are governed by smart contracts to ensure trustless, auditable flows.
• As with any NFT and crypto-enabled platform, ensure you understand the risks of investing in digital assets and comply with local regulations.

Core Features

• Free, email-based account setup
• Lightweight wallet integration with straightforward top-ups
• Music NFT discovery across networks with direct fan-artist monetization
• Fractional ownership and APR-based revenue sharing
• Soroban-powered, low-fee, fast on-chain transactions
• Money-based discovery system to surface high-APR NFTs
• Submissions pathway for creators to mint and list NFTs
• Global accessibility with minimal friction to participate

Tech Backbone

• Soroban (Stellar) smart contracts power all transactional logic for streams, likes, downloads, and revenue distribution.
• APR dynamics drive visibility and returns, aligning incentives for artists and fans.
• Decentralized model aims to reduce gatekeepers and maximize creator control over ownership and monetization.

Why Skyhitz Matters

• Bridges music discovery, ownership, and investment into a single platform.
• Provides a pathway for fans to directly support artists while benefiting from the music’s success.
• Demonstrates a practical use case for blockchain-enabled, creator-friendly revenue models in the music industry.

Frequently Asked Questions Snapshot

• How can I get involved as a music creator? Submit your NFT via the landing page with an email and NFT link for review.
• Do I need a wallet? A Skyhitz account functions with an email-linked public key and XLM funding.
• Can I listen without purchasing NFTs? The platform emphasizes engagement and ownership opportunities; basic listening is tied to interactions and wallet state.

"Skyhitz" is positioned as a pioneering platform where music meets smart contracts, aiming to empower artists and fans alike through transparent monetization and direct participation in the music economy.