In the last cycle, both primary and secondary investments were made in several Web3 music projects, including Opulous and Royal. The approach was largely similar, attempting to disrupt the traditional music industry's profit distribution chain through technologies or means such as smart contracts and NFTs, like Opulous's music copyright NFTs and future revenue loans. The result was, without exception, failure.
The fundamental reason for this failure is that these attempts underestimated the music industry's ability to protect its vested interests. Faced with the triple barriers of copyright law, economic incentives, and user habits, they could only remain on the margins.
With the evolution of AI technology, the traditional music industry is now facing challengers again. This time, AI music targets a more core and critical aspect - music content creation. A typical project is @FireverseV (which has officially announced its launch on Binance alpha).
Compared to traditional music, the core advantages of AI music are:
Low technical threshold: Platforms like Fireverse allow ordinary users to generate complete songs through text prompts, taking only a few minutes from concept to finished product (traditional processes require at least several months). Official data shows that the number of AI music generated on the Fireverse platform has exceeded 500,000.
Scalable validation: "Heart on My Sleeve" achieved over 20 million cross-platform plays; "The Velvet Sundown" reached over 1 million monthly active listeners within 5 weeks (in contrast, the Fireverse platform still lacks blockbuster AI music works to support it).
Now, let's discuss some points of interest.
1/ $FIR Valuation
In February 2025, Fireverse announced the completion of a $2.5 million Series A financing round. This round was co-led by Nobody and OKX Ventures, with support from institutions like BingX Labs, GateLabs, and Chain Capital. The financing valuation was $30 million.
Additionally, Binance alpha project valuations typically range from $50 million to $100 million. Currently, the AI music sector is not very hot, and the estimated FDV of $FIR is likely to fall within the $50 million to $100 million range, with not much premium.
2/ Selling Pressure
According to the $FIR tokenomics, the token lock-up for the team and institutions is one year:
Private investment (20%): locked for one year
Team (10%): locked for one year
Advisors (5%): locked for six months
Initial selling pressure will mainly come from community airdrops, exchange benefits, and market maker liquidity.
3/ Ambush Perspective
FireVibe Pass NFT
https://medium.com/@fireverse/firevibe-pass-nft-own-it-earn-more-go-further-35e2a934a38c
FireTrack NFT
https://medium.com/@fireverse/introducing-firetrack-nft-rank-earn-get-noticed-own-your-sound-43fe48705ab2
Fireverse OG NFT
https://medium.com/@fireverse/fireverse-og-nft-is-live-claim-your-legacy-2ed74ecf0fc5
Among these, the FireVibe Pass can be claimed simply by logging into the platform; FireTrack requires users to generate music using the platform's AI tools; OG is whitelist-based, with a clear airdrop.
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