How to launch your own Music NFTs
NFTs are becoming more popular every day, especially since more music industry leaders like Steve Aoki, 3LAU, Dillon Francis are starting to sell their music as NFTs. In this article, we’re going to explore how to create and launch your own Music NFTs. Let’s get started!
A chain of blocks. Each block holds several transactions and has security protocol making it nearly impossible, if not totally impossible, to cheat, break or hack the system. Transactions are validated constantly through computers that operate to reach a consensus in order to go from one block to another, and this is how the blockchain does its own work.
A digital currency in which transactions are verified and records are maintained by a decentralized system using cryptography. Most simply put, cryptocurrency transactions pass through the blockchain, being validated in blocks. Creators of NFTs earn a % on subsequent sales of their NFTs.
A unit of data stored on the blockchain. NFT stands for “non-fungible token”: a non-fungible token is not interchangeable like other cryptocurrencies (Ethereum, Bitcoin, Solana, etc). An NFT derives its value directly from, and only from, buyers. Creators
An NFT where the data is simply just a song file or includes a song file as main purpose.
An application that functions similar to a traditional wallet to let you access and store your cryptocurrency. Each wallet has a unique passphrase (combination of words) to access your wallet. Don’t share your passphrase with anyone and make sure to not lose it. Its the only way to recover your wallet.
To mint an NFT, is the process of permanently printing the data onto the blockchain. It provides a certificate of authenticity and proof of ownership. The creator can decide to mint and then sell the works or let the buyers mint the NFT.
Primary sale is where a creator lists their NFT for sale or a collector mints an NFT, whereas secondary sale is where a collector, who has bought/claimed an NFT, can resell or relist the NFT.
On certain Blockchains users need to pay a sort of shipping fee called gas-fee in order to move / transfer cryptocurrency or NFTs. The gas-fee is a reflect
While web2 refers to traditional internet usage, web3 refers to the intersection of the internet and the blockchain.
The Blueprint for Music NFT
1. Create the art
Anything could become an NFT, from a studio recording, to demo recordings, music videos, behind-the-scenes footage, life performance footage, sharing music royalties with fans, the cover artwork, a concert ticket, membership access, download to an exclusive mp3 file, etc. Before getting started, you should think about the concept behind your NFT project. Feel free to use my DJ Seip NFT roadmap (djseip.com/discord) and NFT concept as a reference or check out other successful artists NFTs to get inspired. There are no limitations.
Below are three example concepts.
You create a song and sell it once. Only one person will be able to own this unique one of one song. This person can hold or resell it for a profit.
Limited Eddition Art
You create a song and make a limited supply of 100 pieces available to be sold. (Imagine a custom Nike sneaker with only 100 pieces to ever be made. Same thing)
A collection can be looked at, similar to an Album or a project where you challange yourself to achieve a certain goal. Produce 100 songs or 100 different videos for the song, or beats, etc.
2. Select your Market place / Blockchain
Choosing the right Blockchain and market place to mint your NFT is very important since it will be the technology and platform your customers interact with to obtain your NFT. Consider the costs of minting, cost of transfering, gas-fee’s, the usability of the Blockchain and the future support of the Blockchain. Do not forget to think about your customers as well, which blockchain are the majority of your customers already using?
Here is a list of my favorite Marketplaces:
*If you have coding skills, you can also consider writing your own smart contract to deploy your NFT on your terms and possibly even turn your own website into a marketplace. Network on twitter, there are alot of talented developers that can assist you on this mission.
3. Create your wallet
Next step is creating a wallet that is compatible with your selected Marketplace and Blockchain to store your earnings and NFTs in. If the wallet is not supported by the marketplace, then you wont be able to sell or buy NFTS with it. Make sure to read up before or ask someone in the community for assistance. Feel free to join the DJ Seip Discord and get help from our community.
Here is a list of my favorite wallets:
4. Utility or no utility
Does your NFT give the holders something besides owning the NFT. You can argue that great music is a utility and that is correct, yet offering additional longterm utility to your holders increases the value of your NFT and also the use case. Anything is possible. You can allow your NFT holders lifetime discounts, one time discounts, vip concert access, holder only livestreams, a % of your streaming royalty, a physical CD along with the NFT, access to weekly consultation calls, a secret community, and many more ideas. You can make music NFTs and sell them without additional utility. You also have the option of giving your NFT holders additional percs for putting their trust in you and becoming an investor in your brand. You create the journey.
5. Upload and shill
Login to the Marketplace where you want to sell your NFT and follow the steps to create your Music NFT. Its pretty straight forward.
Once your NFT is minted, everyone will be able to buy the NFT from the marketplace.
Now its your time to make people aware about your NFT existing. Just because you uploaded and minted an NFT, doesnt mean that now 1,000,000 people get a push notification on the mobile device and stop whatever they are doing, to go buy your NFT. Nobody knows that your NFT exists, its your time to promote and market your NFT.
Twitter spaces are a good place to find people interested in NFTs. Search for Shill spaces or silent shill spaces. Don’t be affraid to grab the mic and tell people about your project. Reddit is also a very powerful tool for promoting your content. If you know the release date of your NFT Project in advance, its a good idea to get your NFT project listed on NFT Calendars such as nftdropscalendar.com, nftcalendar.io, non-fungi.com, nftevening.com, and any other websites you can find.
In case that you have a budget available to invest in marketing, consider working with successful influencers in the NFT Space to drive awareness to your Music NFT and running Advertisements on social media. For successful advertisements, make sure to use great visuals and short but catchy taglines.
If you need additional NFT Consultation or assistance with project development, send me a DM on Twitter