It wouldn’t be unreasonable to think that most people assumed NFTs only existed as image files if they were asked. In reality, nothing could be different from the truth. First and foremost, Top NFT Development Agencies are digital files. This implies they can be everything from photos to videos to 3D models to music and audio. With the crypto and NFT environment becoming more popular by the month, more and more musicians and artists are looking at ways to sell music as NFTs and tap into a whole new market.
While it may appear unusual at first, selling music as an NFT isn’t all that different from selling any other type of NFT artwork. All you have to do is choose the proper file and song type, the platform you’ll be utilizing, and how you want your music to be listed.
We’ll go over a step-by-step analysis of how to sell your music as an NFT in this article, from the initial development process to fully selling it on the marketing platform.
What Exactly Is An NFT?
Non-fungible tokens, or NFTs, are a word for non-fungible tokens that is unfamiliar to individuals new to the industry. Simply said, B2b rating & review platform’s are one-of-a-kind, one-of-a-kind objects that cannot be reproduced. Unlike a television, a car, or a watch, which can all be mass-produced indefinitely, an NFT can only be manufactured once. Even if there are copies of that exact NFT image, film, or song, they are worthless in the marketplace.
Consider it this way: The Mona Lisa is a unique work of art. Even if you discovered an image online, printed it out, and mounted it in a high-quality frame, your copy would only be worth about as much as the materials you paid for it, and that’s if you’re lucky. Meanwhile, the original would still be worth hundreds of millions of dollars (if you could ever afford it, which you can’t).
Is There A Difference Between Audio And Image NFTs?
It’s easy to imagine that NFT art and NFT music aren’t the same thing depending on how much time you’ve spent with NFTs. And, while they are not exact replicas of one another, they are not quite as different or unusual as you might think.
From a functional sense, audio NFTs are essentially the same. Audio NFTs, like NFT art, are create as permanent, immutable files that can never be completely delete on the blockchain network.
The only true distinction between the two sorts of NFTs is that audio NFTs are mostly audio-based, whereas NFT art is primarily image-base. Seriously. That distinction is the only one that distinguishes one from the other in terms of functioning.
Let’s break down how you can start generating and selling NFTs as music now that we’ve covered what an NFT is and how it differs from an audio NFT.
How to Make and Sell Music NFTs
Step One: Compose Your Music
This is similar to how you would ordinarily compose music. Music NFTs, as previously stated, are handled in the same way as any other NFT. You’ll need to come up with musical ideas to put down before you can do anything. You must first choose the type of music file you want to use. Simple studio recordings, filmed live performances, and even a full-fledged music video are all possibilities.
Depending on your interests, each has its own set of strengths and disadvantages. Because everything is record in a studio, studio recordings are the most prevalent type of music NFT. These are usually the most expensive of the three, but they are also the most high-quality.
Another fantastic genre of music to collect is live performances. Live performances make the experience even more unique, especially if you are only manufacturing a small number of NFTs of that particular album or track. There is a sense of “at that specific time” that pervades the music. While the sound quality may not be as good as a studio recording, the uniqueness of the period and location in which it was made can often be perceive as making it far more valuable.
Music video recordings fall somewhere in the middle of these three alternatives. It’s also a fantastic way to mint music NFT. Not only is it frequently less expensive than shooting in the studio (depending on the quality of the music video), but it also has a better potential of going viral online, enhancing its value. You’ll also benefit from having an NFT that is both video and audio. All of this adds up to an NFT that could be more valuable than either alternative.
Step Two: Make Your Own Digital Wallet
After you’ve assembled your NFT’s songs, the following step is to obtain a digital wallet. A digital wallet is not only necessary for keeping any cryptocurrency, but it is also the most efficient method of accessing any NFT marketplace. Getting an Ethereum wallet may be the best solution because Ethereum is the principal backer of the bulk of NFTs. That being said, any will suffice. MetaMask is my personal preference, but there are plenty more choices available.
You’ll need to add some Ethereum to your digital wallet, regardless of which one you choose. Almost all NFTs market exchanges have Ethereum as their principal backing. You’ll need it to pay your gas bills and any other expenses you may encounter. Thankfully, most trips won’t cost more than $100, however petrol prices might potentially rise depending on the situation.
Step Three: Choose a Platform to Work With
After you’ve made your music and obtained an e-wallet, the following step is to choose which NFT market exchange to use. What you choose for yourself, much like your digital wallet, is a personal decision. However, there are a few important factors to consider before making your decision:
Fees for Gas
The most critical thing to know about the NFT marketplace you’re interest in is whether or not there are any gas fees associate with the listing procedure.
Simply explained, “Gas Fees” are the inescapable labor charges that minters charge to mint and advertise your NFT on the blockchain network and marketplace. Gas prices vary from day to day and from hour to hour, with more expensive days and hours costing more.
While many platforms charge gas fees for NFT production, others provide alternatives such as deferring the expense to the customer or paying a portion of your sales to the platform.
These are the most crucial aspects of an NFT exchange that can help you select where you want to go.
After petrol fees, collaboration protection comes next. This is where your unique contribution to a song or music is safeguard, regardless of the amount of collaborators on the track. Spend some time looking through the various platforms to see if ones provide any kind of protection for individual contributions. This is most commonly shown with the option to include timestamps.
Step Four: Publish Your Music On The Marketplace
Finally, once you’ve decided on your platform, look for the music-only NFT area. You’ll be able to examine a variety of samples of what sells and what doesn’t. You’ll also get a sense of what’s hot and what’s not. All of this will be vital for you and how you list your NFT songs.
If you’ve ever made a typical NFT art image, you’ll see that many of the procedures are the same. While NFT music is fairly comparable to regular NFT ways,
it is a fantastic way for emerging artists to get their music into the hands of their listeners while also encouraging them to invest more.
Understanding the process of minting an NFT, whether for songs, photos, or videos, places you in a unique position to create and benefit from almost anything you can imagine. Don’t wait any longer; get start right away!