3 reasons why you should launch an NFT project as a musician

““Technology is best when it brings people together.”” -Matt Mullenweg, Social Media Entreprenuer

Introduction:

If you don't live under a rock, chances are you've heard about NFTs. But have you ever considered making NFTs as a musician?

Regardless of what you know about NFTs, blockchain, or crypto currency, NFTs are fun and super simple to create.

A close-up of one of the images that make up the collage by artist Beeple that sold for $69 Million 🤯

With that said, here are 3 reasons why you should launch an NFT project as a musician! 👊

1. NFT's offer new opportunity for revenue creation & control

If you don't know much about NFTs, then you need to do some research before diving into this blog. I suggest starting here and then read this.

Hopefully once you read the above resources you'll understand more about NFT's so I don't have to explain the basics. 😅

All jokes aside, NFTs provide a unique & fun way for musicians to be compensated directly for the work they create because it removes the need to go through third-party intermediaries like Spotify, Apple Music, and Amazon Music

This means that musicians can set their own prices, receive payments in cryptocurrency or other digital forms, and maintain control over their work - while still creating and doing what we love!

If you make a compelling project, then chances are there is someone out there who might find your work and buy your NFT from you! ESPECIALLY if you consistently release tracks and start to gain traction on other platforms.

An added bonus - because of the blockchain technology on which NFTs are based, musicians can be sure that their music won't be counterfeited or stolen, providing them with added security.

Here are some ways NFTs can be used to create new revenue streams and increase control for musicians:

1. Direct-to-Fan Sales: NFTs allow musicians to sell their music and merchandise directly to fans without the need for intermediaries, such as record labels or streaming services. This can create a new revenue stream and give you more control over your earnings. ✅

2. Exclusive Content: Musicians can use NFTs to offer exclusive access to content, such as unreleased songs, behind-the-scenes footage, or merchandise. Fans who purchase NFTs can access exclusive content that is not available to the general public, which can create a sense of exclusivity, community, and loyalty.

3. Royalties: NFTs can be programmed to automatically pay royalties to musicians every time they are resold on a secondary market. This gives you more control over your earnings and ensures you are compensated for the value of their work.

4. Fan Engagement: NFTs can be used to create interactive experiences and games that engage fans and reward them for their loyalty. For example, a musician could create a game where fans can collect NFTs that unlock special content or rewards.

5. Authenticity: NFTs can be used to verify the authenticity of digital assets, such as music or merchandise. This can help prevent piracy and ensure proper compensation for you as a musician.

Overall, NFTs offer a new opportunity for musicians to create revenue and control their earnings by leveraging the unique properties of digital assets. By offering exclusive content, direct-to-fan sales, and royalties, musicians can create new revenue streams and engage with fans in exciting new ways.

👇🏻This is Julia from my NFT project "100 People"👇🏻

Check out my NFT project here

2. Build deeper connections with fans & stronger brand

NFTs give musicians a unique way to connect with fans and enhance your brand identity.

This is because you can create digital artwork, music, and merchandise that can be bought, sold, and traded exclusively amongst your biggest fans.

NFTs also help you to build a stronger brand identity, because they become unique symbols of your brand.

Here are some ways NFTs can be used to build a stronger brand:

1. Offer Exclusive Content: Fans who purchase NFTs can access exclusive content that is not available to the general public, which creates a sense of exclusivity and loyalty.

2. Limited Edition Collectibles: This can create a sense of urgency and exclusivity around the brand, which can lead to increased engagement and loyalty.

3. Gamification: NFTs can be used to create interactive experiences and games that engage fans and reward them for their loyalty. For example, a brand could create a game where fans can collect NFTs that unlock special content or rewards.

4. Fan Ownership: NFTs can be used to give fans a sense of ownership and control over the brand. This can be done by creating NFTs that give fans voting rights or a say in how the brand is run.

5. Authenticity: NFTs can be used to verify the authenticity of digital assets, such as artwork or music. This can help build trust with fans and create a stronger brand identity.

Overall, NFTs offer a brand new and unique opportunity for brands to engage with fans in new and exciting ways. By leveraging the unique properties of digital assets, brands can create deeper connections with fans and build a stronger brand presence in the digital world.

Check out this sweet diagram below that briefly covers the basics of brand identity and image

3. NFTs are giving artists the control over their product

NFTs give you as an artist more control over your product by providing the opportunity to create unique digital assets that are verified on a blockchain.

Prior to NFTs, you had to jump through hoops to gain any control over your product. First you have to launch with a distributor, then claim your profile on platforms, and then abide by all their rules. Yuck!

NFTs give you more control in a couple of different ways:

1. Ownership: By minting an NFT, you can prove that you are the original creator of a digital asset, such as an artwork or a song. This gives your more control over your work and ensures that you are properly credited for your creations.

2. Distribution: NFTs enable you as an artist to distribute your work directly to fans without the need for intermediaries, such as record labels or streaming services. This gives you more control over the distribution of your work and allows you to earn more revenue from your creations.

3. Authenticity: NFTs provide a way to verify the authenticity of digital assets. By creating an NFT, you can prove that your work is authentic and prevent others from copying or reproducing it without your permission.

4. Royalties: NFTs can be programmed to automatically pay royalties to artists every time they are resold on a secondary market. This gives you more control over your earnings and ensures that you are properly compensated for the value of your work.

5. Fan Engagement: NFTs can be used to create interactive experiences and games that engage fans and reward them for their loyalty. By creating unique NFTs, you can incentivize fans to engage with your work and build a stronger relationship with your audience.

Overall, NFTs are giving artists more control over our product by enabling us to claim ownership, control distribution, verify authenticity, earn royalties, and engage with fans in new and exciting ways.

This is helping artists to protect our work and create new revenue streams, while also building a stronger connection with our audience.

Credit: https://www.mastrng.com/free-music-distribution/

Other resources to help you get started with NFTs