How to release music as an NFT with sound.xyz

Sound.xyz has announced that it is now open to all artists

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How to release music as an NFT with sound.xyz

Sound.xyz, a music NFT platform, has announced that it is now open to all artists who want to release their music as an NFT.

Why it matters

Artists should be aware of new revenue opportunities for their music.

• Music NFTs have generated over $200 million in primary sales in the past two years.

• Sound.xyz is a large NFT platform focusing solely on Music NFTs and generated $5,5 million in primary sales in 2022.

• Secondary sales range from less than $1 to over $1 million.

Sound is arguably the most popular platform for music NFT collectors, with releases by popular artists such as Snoop Dogg, Pussy Riot, San Holo, and Boys Noize.

Now Sound’s tools are available to all artists, instead of a select group, it becomes more accessible for artists to explore digital collectables like Music NFTs as a revenue stream for their music.

Created with StableDiffusion using the prompt ‘framed image of a synthesizer. pixel art’

How it works

NFTs are typically linked to digital artworks but can be associated with all digital assets, including music. Music NFTs are usually audio files with accompanying artwork, stored on-chain. They can be released as a song, an album, a mixtape, a music video, and much more. The creative rulebook for this new technology is still being written.

Check out Sound’s charts for Music NFTs released on the platform, and dive into the Water & Music web3 archives for more Music NFT inspiration.

Yes, but..

• Music NFTs are very niche. Snoop Dogg, the most popular artist on Sound, only generated 17.339 mints. The positive explanation is that it’s still early; the negative explanation is that NFTs and web3 are way too difficult to understand for mass fan adoption.

• Gas fees are a terrible problem in web3. It’s becoming almost impossible to collect a Music NFT without paying $15 in transaction fees. Solutions to this problem (L2 blockchains) require even more technical knowledge from both artists and collectors.

• Like many web3 projects, Sound.xyz has a Western / North American / English language bias.

Take action now

• First, artists should learn the basics of cryptocurrency, web3 and NFTs. They should know the meaning of terms like gas fees and smart contracts.

• Next, I recommend that artists set up their web3 fundamentals, such as getting a wallet, buying Ethereum, and obtaining an ENS domain.

• Third, artists should actively engage in the Music NFT community by buying or minting a Music NFT from another artist.

• When artists are familiar with web3 and NFTs, they can:

  1. Verify an artist profile on Sound.

  2. Collect all data for their first Music NFT release.

  3. Review and publish their first Music NFT on Sound.

Go deeper

• Music NFTs firm Sound raises $20m and opens up for all artists (Musically)

• Sound.xyz Opens to All, Raises $20m to Help Artists Make a Living from Their Music. (Sound.xyz on Mirror)

• Manual for artists (Sound.xyz)

Full disclosure

I minted, sold and own a few Sound Music NFTs.