How to Make a Music NFT
Music fans can support their favorite artists in numerous ways, from buying an album to attending concerts to wearing official merch. But today, the most promising opportunity might be music NFTs (non-fungible tokens) — a medium granting ownership of a musician’s creative work or prized collectibles directly to paying customers. Unlike traditional streaming options, music NFTs provide a new way to engage with fans, raise money over time, and increase the value of a whole body of work.
It’s a new way of doing business for all but the most tech-connected, but learning how to make a music NFT isn’t all that complicated if you know where to start. Read on to find out how musicians can start minting tokens and digitizing their assets right away.
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What Is a Music NFT?
An NFT, or non-fungible token, is a unique digital identifier recorded and authenticated in the blockchain. Unlike many digital objects, NFTs cannot be copied or substituted, but owners can transfer them between users on the same blockchain. That makes NFTs an ideal technology for authenticating ownership of a broad range of physical and digital collectibles.
By association, music NFTs are effectively digital certificates representing digital or physical media ownership. They can be attached to NFT-exclusive singles or albums, music videos, or even memorabilia like instruments and stage costumes. In some cases, these tokens can represent a share of a creative work’s value, allowing holders to earn revenue from their distribution.
Music NFTs can take a variety of forms, usually falling into one of the following categories:
- Single-edition NFTs are exclusive tracks or albums that aren’t available anywhere else. Much like how original paintings can be photographed while the original stays at an art gallery, these tokens represent full or partial ownership of a unique musical work.
- Open-edition NFTs are produced in unlimited quantities for a short time. Once the distribution period ends, these collections will only be available from customers willing to resell their original tokens.
- Limited-edition NFTs are tokenized music with a limited supply, restricting the volume of a musician’s work in circulation to a pre-determined number of assets.
- Physical-backed NFTs enable the ownership and trade of real-world assets such as vintage records, instruments, or property. The corresponding assets are typically authenticated by a third party then held in a secure vault facility to ensure their value remains intact.
To learn more about music NFT distribution, read our blog post “Where to Sell Music NFTs .”
Minting and Distributing Your Music NFTs
Once you’ve decided what type of music NFT you’d like to create, it’s time to learn how to put it out into the world.
Choosing a Blockchain
The first step of minting your music NFT is deciding which blockchain will host the tokens. Each blockchain is a distributed ledger that maintains transaction records and the trading histories of every token in its network. Most blockchains are associated with specific cryptocurrencies and offer unique services, so it’s worth researching the market to determine which solution works for you.
Finding a Blockchain Wallet
Next, you’ll need access to the blockchain economy. This comes in the form of a “wallet” that grants access to the currencies used to mint and buy NFTs. MetaMask and Coinbase are both common choices for wallets that support a range of currencies, but other wallets may be necessary if you want access to a specific blockchain.
Purchasing Currency for Gas Fees
At this point, you’ll likely want to purchase some cryptocurrency associated with your chosen wallet and blockchain. For example, minting your music NFT often incurs “gas fees” that reflect the supply and demand of NFTs to compensate crypto miners on the network. Having cryptocurrency in your wallet creates an option to pay these fees automatically as tokens are created.
Choosing a Marketplace
Like any crypto token, NFTs are sold and distributed via online marketplaces that manage payments and grant customers access to the blockchain. Here are a few examples, each with its own benefits and features.
- OpenSea: One of the world’s largest NFT marketplaces that supports a variety of wallets, but charges relatively high fees.
- Catalog: An industry-leading music marketplace that specializes in single-edition music NFTs.
- Arpeggi: A unique music platform with its own blockchain technology, allowing artists to mint NFTs that aren’t available from other marketplaces.
- Nifty Gateway: A custodial NFT platform that lets issuers mint and sell tokens without requiring an external crypto wallet.
Creating Your Tokens
After all these steps, you’re ready to mint your music NFTs. The main considerations here are the number of tokens you will create and their price — note that limited edition NFTs tend to attract higher prices on the market thanks to their increased scarcity.
For an in-depth look at the process of creating music NFTs, read “How to Mint Music NFTs” on the Dibbs blog.
Producing Music NFTs from Physical and Digital Assets
With the right strategy, tokenizing existing assets to sell on the blockchain can generate an immediate payout and drive recurring revenue throughout an artist’s career. Let’s take a closer look at this process.
Choose and Audit an Asset
Before tokenizing anything, a musician must determine which assets might have value as a music NFT. Some common industry examples include:
- Original music
- Demos or unreleased tracks
- Signed instruments
- Vinyl records
- Merchandise from a popular tour
Artists do not necessarily have to distribute each asset individually. A music NFT can bundle several items together for a unique collection representing a higher value. For example, an NFT relating to a tour might include merchandise, live recordings, and even backstage tickets.
Choose Your Tokenization Partner
Tokenization partners can be invaluable resources at every stage of the tokenization process. Beyond the process of minting an NFT itself, partners can also help with appraisal, smart contract development, managing physical assets, blockchain distribution, revenue collection, and more. In short, the right partner can handle everything relating to the tokenized asset so the musician can focus on the music while enjoying increased revenue to support their creative pursuits.
If you need a tokenization partner who can bring your physical-backed music NFTs to market, fill out this contact form and we’ll reach out with solutions that meet your brand’s needs.
Refine Your Token Distribution Model
Next, you’ll need to consider how tokens are distributed and what owners get with their purchases, especially if physical assets are involved. For example, you might decide whether to issue open-edition or limited-edition NFTs, or the ownership share each token represents for a physical asset. A tokenization partner can manage these details and codify them directly into an NFT’s built-in smart contract.
Vault any Physical Assets
If the tokenized music includes physical assets, it’s essential to establish both their condition and value in a way that anyone holding the token can easily verify. Partners typically accomplish this by securing the items with an ensured vaulting service, whether on-site or with a dedicated security firm. Vaulting guarantees that the asset is protected from the elements, bad actors, and other uncontrollable factors while maintaining its audited value.
Create and Distribute Your Tokens
Finally, it’s time to mint and distribute your tokens! When setting a price, these music NFTs should reflect the value of at least a share of the original asset. When promoted effectively, these tokens will continue to trade on music NFT marketplaces, sending a portion of revenue to the artist with each transaction.
Looking for more details on tokenized music assets? Check out “How to Tokenize Music” on the Dibbs blog.
Once artists know how to make a music NFT, they can do far more than sell albums. They can engage fans who want to support their favorite musicians, create new revenue sources, and tap into second-hand markets that normally leave creators out in the cold. With the right assets and tokenization partner, musicians can get more value from their creative works than ever before.
Learn more about how partnering with Dibbs can benefit your music business.
How to Create Music NFTs: Guide for Music Producers
NFTs have been one of the most intriguing topics lately. The popularity of “ Non Fungible Tokens ” amongst Electronic Music Producers has been brought to attention thanks to some of the early adopters — Steve Aoki, 3LAU, Dillon Francis and Illmind — all of which have sold NFTs for hundreds of thousands of dollars. However, the crypto art scene is not limited to big, popular artists. In this article, we’re going to explore how you can create music NFTs yourself. Let’s get started!
NFTs for Music Artists
Before we dive into making your own NFTs, here’s a quick introduction if you are new to crypto art.
Once a digital work of art is bought, the owner can receive a token of ownership in the form of an NFT. It works similarly to buying a “signed copy” of a work of art — but the digital signature cannot be faked. The abbreviation “NFT” stands for “ Non Fungible Token ” — they are signed to only one work of art and make validation of ownership super secure.
NFTs can be sold on special, digital marketplaces. The most popular marketplace is Opensea.io — often compared to “an eBay for NFTs” — which allows you to buy images, videos and audio files for a cryptocurrency — Ethereum .
What’s special about selling NFTs as an artist is that every time the token gets sold (or re-sold to a new owner) the artist is able to keep a percentage of that transaction . For example: You sell your NFT for around 100 dollars. You specify that each time the NFT gets sold you get 10 percent from the transaction (called commission). Now if the NFT gets sold again for around 200 dollars, $20 ends up in your wallet.
Rarible — one of the most popular NFT Marketplaces.
How to Create NFTs — Step by Step Guide
Creating an NFT Token is usually called minting .
The minting process begins from having created an original piece of art. It may be an audio file (for example your latest electronic track) — but it can also be a video (for example if your pair it with visuals. Other types of content include 3D animations, gifs and images — for instance, you can always sell the artwork for your track as an NFT. The possibilities are pretty much endless — as long as it can be saved as this kind of file.
Next, you’re going to need something called an “ Ethereum wallet ”. The most popular wallet — and one that is easily linked with Opensea.io is called Metamask . It can be accessed directly from the Opensea platform. You have to download a special “Metamask” Google Chrome extension and create your account.
Bear in mind that in order to mint an NFT, you will need funds on your Ethereum wallet in order to pay something called a “ gas fee ”. It’s a one time payment necessary for each transaction on Opensea.
After you’ve done it, all you need to do is create an Opensea account . There, you’re able to create a “Collection”, inside of which you can place your NFTs. You’re going to need to pay your gas fee to start the listing, and your work of art should be up for sale.
Bored Ape Yacht Club — one of the most expensive collections on Rarible.
Interesting Ways to Sell NFTs
One of the early adopters of NFTs among electronic music producers was 3LAU. He announced that “ The top bidder (of the NFT auction) will be able to collaborate with me on brand new single ”. In the NFT community this type of perk is called “added utility” — not only does the winner of the auction get the NFT, he also gets to collaborate with 3LAU. Added utilities often make NFTs gain market value, as fans outbid one another.
Another interesting approach is using the platform Triptcip . It allows users to easily create visualizations for music using a tool called VOID, and to later sell NFTs created in this way on their special platform. This makes it very fast for electronic music producers to create outstanding visual content which is synchronized to their tracks — all without the use of a 3D artist.
The music producer Illmind has another creative approach towards NFTs. He has released an exclusive sample pack as a non fungible token — which he called the “ first ever NFT-backed sample loop/melody pack ” — which means the owner will acquire TRUE digital ownership of the pack, backed by blockchain history”.
Void by Triptcip — tool for generating NFT visuals to electronic music.
Pros and Cons of Selling NFTs
NFTs are still very new technology — and it’s a rapidly evolving space . The early adopters definitely have an advantage — and you might easily become one of them. It’s a space for creatives who are ready to innovate and push the boundaries of what we call art.
However, if you don’t already have an audience or connections with crypto art collectors, the likelihood of seeing significant returns from posting your tracks or music videos to an auction site is quite low. Another con is that creating NFTs is not completely free — you must pay the gas fee for minting each new token. And on top of that — there is the danger of your work being stolen and minted as another NFT.
Bear the pros and cons in mind and decide for yourself. Good luck with your NFTs!
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How to Mint a Music NFT
Producing music these days is easier than ever before, thanks to the availability of affordable equipment and free education. However, finding an interesting or exciting way to release your music can be challenging. That’s why so many artists and producers want to know how to mint a music NFT through one of the top NFT music platforms.
How to Create a Music NFTNFT Music Platforms
How to Mint a Music NFT
If you’re an artist, musician, or producer, you may be familiar with the blockchain trend of non-fungible tokens (NFTs). Moreover, the music industry is constantly reinventing itself. As such, novel mediums for distribution are becoming commonplace for artists looking outside the box. Accordingly, many artists are now considering how to create a music NFT and the benefits of doing so.
In this article, we’re going to teach you how to create a music NFT on Ethereum. We’ll walk you through each step of the process of creating your own NFT using OpenSea. Also, we’ll consider some of the benefits and drawbacks of this novel format. Plus, we’ll look at the top music NFT platforms available.
Moralis Academy is the number one route for Web3 and blockchain education. To gain a firm understanding of this powerful technology, check out the Blockchain & Bitcoin 101 course. Following this, be sure to check out our Ethereum 101 course. Here, we teach students about the origins of smart contracts, decentralized finance (DeFi), and programmable money. Start your blockchain journey today with Moralis Academy!
What are NFTs?
Non-fungible tokens (NFTs) are cryptographic, digital representations of assets on the blockchain. Each NFT contains unique metadata that provides the holder with verifiable ownership. Unlike fungible assets such as the US dollar (USD), Bitcoin (BTC), and Ethereum (ETH), NFTs don’t serve as a medium of exchange. Moreover, fungible assets are interchangeable. This means that you could lend somebody one ETH, and they wouldn’t have to give you the exact same ETH back. Likewise, when you take out a loan in USD, there is no expectation for you to repay the loan using the same physical units of account. Indeed, this would be impossible for most in the age of digital finance.
However, non-fungible assets are unique. Anyone can “tokenize” almost any asset in the form of a non-fungible token (NFT). Some of the most prominent use cases for NFTs include art, digital real estate, crypto gaming, certification, identity, and music. Furthermore, NFT holders enjoy a fully-transparent purchase history of their assets on-chain. This is particularly useful for digital collectibles because it provides holders with provably scarce assets that are completely decentralized and transparent.
NFTs contain a unique digital identity that verifies authenticity and ownership rights. The most prominent types of NFTs are the Ethereum ERC-721 and ERC-1155 standards. The ERC-721 standard requires NFTs to define the owner of an asset, metadata, and security data, which is ideal for exchanging rare in-game assets. In addition, the ERC-1155 standard enables multiple NFTs to be minted in batches from a single token contract.
How Do Music NFTs Work?
Music NFTs enable artists and producers to create limited runs of verifiably rare tracks and releases. Unlike traditional formats, NFTs can’t be illegally copied or duplicated. Because music NFTs are held on the blockchain, they cannot be manipulated or altered. Each music NFT can be a digital representation of a song or release. Also, music NFTs can contain bonus content, fan experiences, concert tickets, and rare merchandise ownership rights.
Furthermore, NFTs allow artists to engage with audiences like never before. Plus, superfans can show off their dedication by owning rare releases. Pioneering NFT artists include Steve Aoki, Kings of Leon, Tory Lanez, 3LAU, Dillon Francis, Katy Perry, and Deadmau5. However, the NFT trend is in full swing throughout the music industry as artists rush to jump aboard the NFT train.
How to Create a Music NFT
Now, let’s take a look at how to create a music NFT. The process of creating an NFT is called “minting”. Multiple blockchains facilitate the minting of NFTs. However, in this example, we’ll be using the Ethereum blockchain. Ethereum is the home to a substantial amount of development expertise in the blockchain and Web3 space and hosts many of the most prominent NFT marketplaces. As such, it comes as a natural choice for this example.
In this example, we’ll be creating an NFT using an audio file. However, you could include artwork, visuals, and many other additional features. When we have our original piece of music ready to go, we will also need something called an “Ethereum wallet”. A crypto wallet is what we use to store our crypto and send it to other wallets.
To do this, we tell the Ethereum network in our crypto wallet that we want to send an amount of Ethereum’s native cryptocurrency, ETH, to another wallet’s address. Once we have chosen the destination for our ETH, we sign a transaction to confirm a “spend” using our wallet.
The most popular marketplace for buying, selling, and minting NFTs is OpenSea. To interact with the OpenSea NFT marketplace, you’ll need a Web3 wallet and some ETH. In this example, we’ll be using MetaMask. MetaMask is the most widely used Ethereum wallet and is ideal for interacting with NFT marketplaces such as OpenSea.
Download MetaMask
You can download MetaMask as a web browser extension. After downloading, you’ll need to make a copy of your seed phrase. A seed phrase is a series of randomly generated words that you’ll need to write down and keep in a safe place. Never give your seed phrase to anyone else, and always make sure you keep a backup in a safe place. Furthermore, MetaMask is a non-custodial wallet. This means that you are in control of any assets you hold inside the MetaMask wallet.
To learn how crypto wallets work on a technical level, save our “Blockchain Explained”, “What is Crypto?”, and “What is Bitcoin?” articles for later! Also, check out the DeFi 101 course at Moralis Academy to learn how to download and install MetaMask safely. This course teaches students how to use MetaMask to interact with some of the most prominent DeFi protocols, including Uniswap, MakerDAO, Curve, and Compound. Take your DeFi experience to the next level with Moralis Academy!
After installing MetaMask, you’ll need to fund it with some ETH. You can purchase ETH using a centralized crypto exchange such as Coinbase or Binance. You’ll have to provide proof of your identity to sign up with these exchanges. However, once this is complete, you can link your bank account and purchase some ETH.
Create an OpenSea Account
Although creating an account on OpenSea is free, you’ll need ETH to pay for transaction fees known as “gas fees”. Gas fees fluctuate depending on how busy the network is. Accordingly, you may want to wait until network congestion is low to avoid high fees. After purchasing ETH, you’ll need to send it to your MetaMask wallet by copying the relevant wallet address and sending ETH to it from your chosen centralized exchange.
After funding your MetaMask wallet, it’s time to create an OpenSea account. First, you’ll need to allow OpenSea to access your MetaMask wallet. Follow the instructions on-screen and create a “new item” by uploading an audio file. In this example, we’ll just be uploading a single audio file. However, you can upload multiple files as part of a collection or include additional non-audio content.
Give your NFT a name, provide a URL to the audio file, a description, and create a collection for your NFT. Select the number of issues, unlockable content, and note any explicit content in the provided field. Finally, hit “Create”. This process will require some ETH for gas. After confirming the transaction in MetaMask, your music NFT will be up for sale via your OpenSea profile. Although there are many reputable NFT music platforms available, OpenSea is by far the most widely used. However, feel free to shop around for other NFT marketplaces to release your music.
How to Sell Music NFTs
Many NFT investors consider OpenSea to be the “eBay for NFTs”. You can select various additional features to accompany your music and sell them in one convenient location as a bundle. Whenever a music NFT resells, artists can take an additional percentage of the transaction.
Furthermore, NFTs are not restricted to complete songs. You can export stems of your tracks and use these audio files for NFTs. Also, early NFT artist 3LAU made headlines in the crypto space by giving the top bidder of his NFT auction the opportunity to collaborate with the musician on a new release. Such added utility helps to increase the hype around an NFT project and can help NFTs command higher prices.
Another interesting concept to consider is the use of NFTs for sample packs. Releasing one-shots on Splice or any other music library may be lucrative for established artists. However, it soon becomes pretty clear when a sample pack is being overused. Releasing sample packs as NFTs completely bypasses this issue as the creator can stipulate how many packs will be available.
Pros and Cons
Selling music via NFT music platforms offers novel audience engagement opportunities. Also, the NFT industry is a space that promotes innovation and blurs the lines between art and technology. However, NFTs are relatively new. Accordingly, music NFTs could be limited in their appeal to an audience without experience with NFTs. If you are an undiscovered artist, the chances are that the returns from your music NFTs will be small.
Despite this, NFTs provide artists and producers with exciting opportunities for real-time royalty payments. Transparent ownership histories of non-fungible assets exist on the blockchain. Along with this includes metadata that can trace every stream or download. However, although this technology has the potential to reduce counterfeiting, some NFTs can still be illegally duplicated.
In addition, the process of minting NFTs comes with inherent technical risks. If you’ve never used a crypto wallet before or paid a gas fee on Ethereum, you could suffer financial loss if you make a mistake. Conversely, the upside of publishing music as NFTs is that you can do so without intermediaries. After uploading a track to an NFT marketplace, you are in control of any revenue that comes from it.
Moreover, you don’t need to pay a label, management, or a ticketing company to earn from NFTs. NFTs are a flexible format that can cater to all kinds of rare additional content and experiences. Plus, music NFTs can be tiered to cater to different budgets and levels of fan engagement and participation.
NFT Music Platforms
OpenSea is undoubtedly one of the top NFT music platforms. However, it may be worth familiarizing yourself with some of the other popular NFT music platforms. For instance, the Rarible NFT marketplace is a thriving ecosystem for NFT enthusiasts.
Furthermore, Opulus and Audius are among the most popular NFT music platforms. These platforms offer industry-specific services to help you release your music as NFTs. Other prominent NFT music platforms include BitSong, HUSL, and Rhythm (by BeatPlaylist).
How to Create a Music NFT – Summary
Learning how to create a music NFT could give you an unfair advantage for your next release. However, NFTs are experimental. As such, remember to lower your expectations a little if you’ve had successful releases in the past. The music industry may not be entirely ready for NFTs. However, this technology is set to disrupt the way we distribute records to audiences.
After reading this article, you should have a firm understanding of how to create a music NFT using one of the most popular NFT music platforms. Releasing music as an NFT provides a variety of innovative avenues for fan audience engagement and interaction. Tokenizing audio on the blockchain offers verifiably scarce music and bonus features that previous formats could not facilitate.
In addition, learning how to create a music NFT through a platform such as OpenSea gives you a gateway into the broader world of NFT art and decentralized finance (DeFi). MetaMask‘s Web3 wallet we used in this article gives you access to a wealth of DeFi protocols and Web3 applications. Check out our “DeFi Explained” and “How to Invest in Crypto” articles to further expand your blockchain and Web3 knowledge!
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What Are Music NFTs & How To Create Them?
Music NFTs is a brand new way to promote your music across the web, making crazy profits. Let’s learn more about this innovation on the crossroads of crypto and the music industry.
Explaining music NFTs
Music NFTs are unique, digital representations of songs on the blockchain. They allow artists and producers to create limited runs of verifiably rare tracks and releases. Music NFTs can’t be illegally copied or duplicated, nor altered.
Also, music NFTs can contain bonus content, fan experiences, concert tickets, and rare merchandise ownership rights.
Early adopters
The popularity of NFTs amongst musicians has been brought to attention thanks to some of the early adopters. Among them — Steve Aoki, 3LAU, Dillon Francis and Illmind. They have raised hundreds of thousands of dollars selling music NFTs.
How to create a music NFT?
Let’s learn how to mint your first music NFT on an Ethereum blockchain. We are choosing Ethereum because it hosts many of the most well-known NFT marketplaces, such as OpenSea, so it will be easier to upload your assets when you decide to sell them.
What you will need:
- a piece of music — any audio file;
- artworks for visual design;
- an Ethereum wallet, e.g. MetaMask;
- some ETH to pay gas.
The easiest way to mint your NFT is to make it automatically with OpenSea. Create a new account, or enter the existing one if you already have. Make sure you’ve connected your Ethereum wallet and allowed OpenSea to access it.
Click the ‘Create’ button in the upper right corner of the OpenSea website. Follow the instructions on-screen and create a “new item” by uploading an audio file. You can also add multiple files as part of a collection, and even include bonus non-audio content.
Done? Then give your music NFT a name, provide it with a URL, a description, and create a collection for your NFT. Select the number of assets in your future collection. Finish the process by clicking ‘Create’. Your collection will be listed.
OpenSea offers creators so-called ‘lazy minting’. It means that you will pay the gas fee only when someone buys your NFT. Crypto will be charged from your wallet to confirm the transaction.
In this example, we’ll be creating an NFT using an audio file. However, you could include artwork, visuals, and many other additional features. When we have our original piece of music ready to go, we will also need something called an “Ethereum wallet”. A crypto wallet is what we use to store our crypto and send it to other wallets.
Is it worth it?
Definitely! Making your music into NFT opens much wider possibilities for young artists than releasing tracks on traditional music platforms, such as Soundcloud, etc.
- copyright protection
- fast monetization
- growth of your music in price over time
- tracking of the number of copies sold
- promotion within crypto community and beyond it
- keeping up to date with trends
Hope you already feel confident enough to make your first music NFTs. Good luck in new beginnings!