Being an NFT creator sounds so intimidating especially when you are about to make a fresh start. Even though a thorough understanding of Non-Fungible Tokens and blockchain technology can help creators in their success, these are just a few tiny pieces of a much wider landscape. Pricing, ways to mint NFTs, copyrights of your work are not the only things to consider while entering into the crypto world. These are only the beginning of the list. Sadly, it’s very difficult to find an in-depth guidebook for musicians that can lead them through every step of the procedure. Lucky for you, we have compiled all the information you need to be a successful Music NFT Creator. So, let’s dive right in.
What Are Music NFTs Really? How Are They Making Their Way Into The NFT Industry?
Many people associate NFTs with digital pictures sold as assets on the blockchain, but it is so much more than that. There is a vast variety of categories available for creators and artists, one of which is Music NFTs. A certificate that identifies the owner of a musical work is basically a Music NFT.
Music NFTs help artists from all around the world to connect with their fans in new and more innovative ways. The outburst of the COVID-19 pandemic not only affected our personal lives but caused a major disruption in our finances too. It cut a significant number of musicians from all their primary sources of income. Live concerts ended, sales slowed to a crawl. It pushed the artists towards finding new ways to build their income. This is when the Music NFTs came into place.
Music NFTs are unique digital assets that enable new ways for artists and musicians to interact in meaningful ways. Through these digital assets, the creators can offer one of a kind experiences to their fans such as one-on-one live streams, exclusive events, and a lot more.
What Benefits Do Music NFTs Bring To The Musicians?
According to many musicians, the music industry has fallen apart. Even though streaming platforms have given music lovers an easy access to almost all types of music, it has not been very kind to the musicians. On Spotify, through million streams of just one song can help the musicians earn USD 3000 – 5000. But even this amount is only for the biggest and the most popular artists. For a person who is new in this industry, the rewards are hardly golden handcuffs.
In light of this, NFTs attracted more and more people towards it – it’s a fairly good business. For musicians or any other artists, NFTs made it possible to sell through their own streaming platforms. This freedom enables the musicians to sell other types of merchandise to people including videos, t-shirts, concert tickets and what not! Apart from this, the musicians have the freedom to decide the blockchain where they can mint their NFTs and which platforms to use for this purpose.
How Can I Mint My Very Own Music NFTs?
Thanks to the evolution of the web, new NFT marketplaces and Web 3.0 streaming services appear almost every month. So, whenever it comes to selling your music, you have endless possibilities. Minting NFTs on the Ethereum blockchain is quite easy and hosts some of the most popular NFT marketplaces. We will highly recommend you to mint Music NFTs using this blockchain as it possesses the largest NFT community base which makes it the best place to make new friends and interact with them.
Read More: Top 5 NFT Marketplaces For Minting Your NFTs Without Gas Fees
What Will You Need To Get Started?
While using the Ethereum blockchain, you need two things at minimum to start minting your NFTs.
- An Ethereum Browser Wallet
Most widely used Ethereum Browser Wallet is MetaMask, and others include CoinBase Wallet and Wallet Connect.
- Ethereum’s Native Currency (ETH)
You need Ethereum’s Native Currency (ETH) which is merely a network fee used for minting transactions on Ethereum.
Which Platform To Choose For Minting And Selling Music NFTs?
When it comes to minting and selling Music NFTs, you have a variety of different NFT platforms to choose from. We have compiled some of the best NFT platforms for you where you can easily start the process.
Please note that some of these platforms including Nifty Gateway, Known Origin, Foundation, etc. support MP4s which provides other interesting audio-visual opportunities for the musicians.
Async Music
(Image Source – async.art)
Async Music is a great platform for innovative artists and musicians to mint and sell their Music NFTs. It is a platform that uses Ethereum Blockchain and promotes programmable art and music. For now, this platform only supports MP3 files.
OpenSea
(Image Source – opensea.io)
OpenSea is one of the most widely used NFT platforms among digital artists for minting and selling NFTs. It is the most reliable NFT marketplace in the space as it uses smart contracts to ensure that your account is secure. It is very easy to use and it offers multiple blockchains.
Rarible
(Image Source – Rarible.com)
Minting Music NFTs on Rarible is quite easy. All you need to do is sign into Rarible using your crypto wallet but if you are new, you have to create one so that you can start building up your NFT collection. Rarible allows you to mint, buy, and even sell not just Music NFTs but all types of digital collectibles.
To Conclude …
Music NFTs are being developed extensively. Although the NFT industry is growing rapidly and offers some of the best opportunities for new creators and artists, they still need to work very hard to set their mark in the NFT sector. We will surely witness an exponential growth in the music NFT industry but for that, we need to come up with more unique and innovative ways to build up a strong NFT community as well as find ways to boost up the sales of NFT collections across various platforms.
At NFTnews, we aim to update our readers about the latest crypto trends and information. We help creators build a strong community for their NFT project to have a maximum impact. We also help our readers come up with the most effective strategies to advertise their NFT projects. Our goal is to guide you from the scratch so that you can make an informed decision before investing into the NFT market.
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Eman is an experienced content writer working with The NFT news since 2020. She is passionate about helping people understand the latest trends in cryptocurrency, metaverse, NFTs and so much more. In addition to writing for NFTnews, she has been proactively working with several other businesses for the past 4 years.
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