Riffdex is the first exchange built specifically for music. We coined the AFT (Audio Fungible Token) to replace the broken "music NFT" model. Streaming pays pennies, and collectibles are scarce—songs are fungible, recurring, and deserve a market that reflects that.
The Problem with Music NFTs
Artists earn roughly $0.003 to $0.005 per stream. The fans who discover a song first, share it, and turn it into a hit capture zero percent of the upside they created. NFTs attempted to solve this, but they were the wrong shape for music: an NFT is a one-of-one collectible priced by scarcity, while a song's true value is fungible and recurring.
AFTs: Fungible. Royalty-Bearing. Liquid.
An AFT is a divisible ERC20 token designed around how music actually works:
- Access is balance: Holding the token unlocks the music.
- Fair split: Every trade pays 70% to the artist and 30% to fans who stake it.
- Native liquidity: Powered by a custom fee-on-transfer AMM that settles real balances and enforces royalties on every trade.
Read the Full Thesis
Explore the complete breakdown of why music was never supposed to be an NFT and how Riffdex re-engineers music liquidity.
Read "AFTs, Not NFTs" →