Issuing New Music Record NFTs
The music publishing process on Sonorus is defined as issuing new copies of Music Record NFTs, which literally is an operation that mints new BEP-1155 NFTs on the blockchain that carries the same data as the original music. Each Sonorus user serves as a music collector with the ability to generate an unlimited quantity of new copies for Music Records in the Sonorus Catalog at the issuing prices generated by the following pricing model.
In order to achieve a natural balance between the copy amount of Record NFTs in circulation and the market value for Record NFTs, Sonorus places no restrictions on the number of copies that Record NFTs for a piece of music can generate. Instead, Sonorus implements an Incremental Price Inflation Model for the issuing price of new copies. In this model, for every new copy of Music Record NFT for a music piece issued by any Sonorus user, the price to issue another new copy will increase by a particular increment.
For example, a copy of a music record's initial issuing price is 20 $RUS, and the price increment is 1 $RUS. Then after 10 copies are issued, the cost to issue the 11th Record NFT will become 30 $RUS.
Currently, the default initial issuing price for all music in Sonorus Catalog is set to 20 $RUS, and the price increment for issuing an additional Record NFT is 0.2 $RUS per copy. If you are issuing the Nth record of a song, then the issuing price = 20 +0.2x (N-1).