Design and Application of Music NFT Trading System Based on Blockchain and Multi-layer Minting

Abstract

The field of digital music has long been plagued by issues surrounding copyright protection and the unfair distribution of revenue, urgently requiring an optimized protection mechanism and a trusted and efficient trading environment. As a unique type of digital asset, Non-fungible Token (NFT) can serve as a representation of ownership for a digital item, such as a song. Therefore, this paper innovatively puts forward the concept of multi-layer minting, designs a rational royalty distribution method, and validates it through comparative experiments. Ultimately, we construct an integrated karaoke and trading system called NFT-K, which employs NFT technology for copyright protection of musical works and utilizes smart contracts to facilitate automatic and transparent royalty distributions among different layers of minters. The system is scheduled to launch in North America later.