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Techub News reports, according to FinanceWire, that the music platform Stems.fm will open its first NFT minting on May 22, with a two-week window, and supply will be permanently locked after June 5.
Each NFT represents a single component of a song (such as vocals, drums, bass lines), collecting specific components can be combined into a song token, which can then be minted into an album.
The platform uses a burning mechanism; synthesizing a song requires burning components, and synthesizing an album requires burning song tokens.
As the system operates, lower-level components will gradually become scarce.
Some NFTs will be minted in an unrevealed state, and holders can choose to open or seal the transaction.
The founder states that this model aims to test the genuine market demand for independent artists, and future versions may link tokens with revenue rewards.