Let’s be honest, music has always been one of the driving forces behind human history. It’s the one thing that unites us all and brings joy to our hearts. But let’s face it: with so many artists, genres and platforms out there, it can be hard to find your favorite tracks. That’s why we think NFT Music will change everything!
NFT stands for Non-Fungible Token. NFTs are unique digital assets that are not interchangeable. They can be traded, and they have a variety of uses in the music industry.
How To Make Money With NFT Music?
Nowadays, there are many ways to monetize your music. If you want to make money with NFT Music, you should know how it works.
NFT Music is a growing market. It’s increasingly being used as a way to promote music and make money. You can get music heard, played and promoted by NFT Music platforms like the Sound, Catalog, Pianity, Decent and Nina.
Platforms for Buying NFT Music.
Sound
Sound is a music marketplace that provides tools for creators to create and customize offers, with built-in smart contracts.
Artists can now publish their songs, sell NFTs that entitle the owner to a portion of their sales revenue streams, and also establish governance structures operated by tokens around their brand.
It is Sound’s organizational aim to correct the issues associated with the economics of music and artist attribution, as well as its “Listening Party” feature.
The “Listening Party” feature is a process that allows artists to debut their new music as a set of unique NFTs, allowing collectors who buy these special tokens the chance to comment on each song if they so choose.
Catalog
Catalog is one of the music NFT platforms that also focuses on creating a more equitable music system. The marketplace itself represents a digital record shop and community, where users buy unique songs and resell them at prices they choose.
The way the system works is that artists collect 100% of their initial sales and decide how much to pay when someone re-sells their work.
In addition, Catalog offers an interesting option where the creator can allocate a secondary sale fee to whoever buys their NFT, thus creating multiple groups of people who earn money from that token’s resale—including its original artist.
Pianity
The Arweave technology that powers Pianity allows it to save up to 100 times less energy than the Ethereum network. The sole focus of Pianity is showcasing artists’ limited edition tracks and exclusive collections.
The goal of the marketplace is to solve a problem with artists’ payouts by redistributing half of all earnings to active users on a weekly basis. This has attracted over 20k active users, many from the artist community.
Decent
Decent, a music NFT platform with a focus on crowdfunding and community building around musical art, promotes the tokens (NFTs) that are backed by musician’s royalties.
Artists give fans a series of choices about the purchase and use of NFTs, including what royalty percentage they will receive from song sales.
Nina
Nina is a digital infrastructure that allows users to buy, sell and stream music online.
The protocol is simple: a one-time file transfer fee and customizable price, edition size, and secondary resale creator commission are all part of the deal.
Nina is a highly customizable tool that can be used to host music, sell digital editions or build an audience by offering unique content.
Pros of NFT Crypto Collectible Music
NFTs are a new way of owning and sharing music. The music industry has been around for hundreds of years, but it’s still changing rapidly.
The introduction of blockchain technology has given us the ability to create new ways of interacting with each other and the world around us.
With NFT Crypto Collectibles, you can now own digital assets that are linked to any kind of data on the blockchain, including music files and tracks. You can also share these unique digital assets with others by giving them access to your playlist or album through a link sent via email or text message.
This is great because it allows artists who produce songs full-time an opportunity for additional revenue streams.
Music artists don’t need gigs anymore.
With NFT technology, you have the ability to buy and sell NFT music.
It is an exciting time for the music industry, as it will soon be able to start using blockchain technology to achieve many amazing things that were not possible before.
The future looks bright for both artists and fans alike!