The Future of Sound 💥

Every Industry is trying to get their hands dirty in the web3 and NFT space to yield better and faster results with innovation coming along. Music binds us all together and you know what music holds a bright future with NFT Integration. Lets see how 🤘🏻

What is Music NFT?

A music NFT is simply an NFT that is linked to music. It can come as a single song, an entire album, a music video, or even a generative piece of music — in other words, a composition created using a computer program that algorithmically introduces random patterns, colors, sounds, or shapes into the piece.

Typically, one music NFT contains only one song — the same way you’d expect an NFT containing 3D art to contain a single 3D image. But that’s not always the case. What’s more, music NFTs can also be linked to things that are related to music, like concert tickets or album covers.

Types of Music NFTs

1/1 NFT: A 1/1 NFT (or one-of-one) means that the NFT has been issued as a single, unique item. In this respect, it’s completely exclusive. Such NFTs are a little like real-life paintings in that only one exists. Due to their rarity, 1/1s usually carry a much higher price tag than NFT editions.

Open edition: An open edition is an NFT in which an unlimited number of editions can be minted. However, don’t confuse “open” with “unlimited.” Many open editions are only available to mint for set periods. After the time window closes, no new NFTs can be minted.

Limited edition: A limited edition is restricted to a predefined number of editions. In other words, a finite number of NFTs are available for minting. Many such collections consist of 10,000 editions.

Music NFT Marketplaces

Catalog is a mix between a streaming service and an NFT marketplace. On Catalog, artists can add a record to Catalog’s open music library, which fans can then purchase either with a “buy it now” price, by participating in an auction, or by making an offer. The platform is exclusively a 1/1 marketplace, meaning scarcity is high. This is a great place to collect a unique, one-of-a-kind music NFT from your favorite artists.

Sound.xyz combines streaming with minting. On Sound, artists can launch a listening party for new song releases with a series of open or limited edition NFTs. This platform also isn’t limited to single tracks, but full projects, and has even hosted mixes like that of Soulection+, which featured 18 different artists.

Async Music is the music-focused arm of the prominent NFT platform Async Art. On Async Music, each track (guitar, piano, vocals, percussion) is uploaded separately and in several different versions. This allows artists to mint music in a dynamic way that lets fans collect specific layers piece by piece in order to form one master track.

Mint Songs is one of the only dedicated music NFT platforms that isn’t closed or invite-only, which means that a wider variety of artists are selling on the platform. With a core mission to help artists build a sustainable and livable income from creating music, Mint Songs is a great place to find innovative artists to support. The platform also runs on Polygon, which makes it accessible with the absence of high transaction fees.

Royal, previously mentioned, is a superstar producer/DJ 3LAU’s music NFT marketplace that gives NFT owners the rights to songs sold on the platform. This means that those who collect a Royal NFT will be able to receive a portion of royalties generated by that song across traditional streaming platforms (Spotify, Apple, etc.). Users can purchase NFTs using crypto or a credit card, which is a unique feature by any standards.

OneOf is hosted on the Tezos blockchain. The platform is currently highly curated and doesn’t allow for independent minting, but because of this, it acts as a base for many high-profile NFT drops (like Doja Cat, The Game, Alesso, and others). Speaking of Tezos, Objkt and Kalamint have become the de facto marketplaces to trade NFTs on the Tezos blockchain and are great places to find music NFTs.

That's it for the day peeps, Web3Shala Signing Off ✌🏻

To the moon 🚀Keep Vibin 🎵