As an artist, you want your music to be heard by as many people as possible. With the advent of new technologies, there are now more ways than ever to distribute your music and reach a wider audience.
One way to do this is to sell your music as an NFT.
The likes of 3Lau, Kings of Leon, Jacques Greene, Tory Lanez, are all getting in on the action. The most astonishing figure comes from 3Lau’s recent sale, in which he earned $11.3 million through an NFT auction.
If you’re new to the scene, it might be a little confusing as to where exactly you should start. That’s why we’ve created this guide to help clear up that confusion!
Creating your music file as an NFT
The first step is to create and upload your music.
This step can be done in any audio editing software, such as Adobe Audition or GarageBand. You need to download these applications, but if you don’t have the skill to edit your music manually, you also can outsource this step on sites like Fiverr.
Read more: Fiverr: It’s Not Five Dollars Anymore – Is It Still Worth Using?
When creating your music, be sure to use high-quality files and make sure the tracks are appropriately labeled.
Label your audio tracks correctly
You can use a couple of different methods to label your audio tracks.
If you want them in the order they were recorded, just name each one after its respective Take number or Track number with no spaces between letters and numbers.
HINT: There is no one solid rule in labeling your music, the main point for this practice is for better organization and upkeep.
Create high-quality files
In terms of using high-quality files, the last thing you want to do is make a track sound like it is stuttering or muffled. A solid sound-quality file will ensure that the music sounds professional and clear to the listeners. It should be easy for potential buyers to hear your tracks without having any issues with the quality of the recording or playback.
Lastly, you’ll also need to include a cover art image for your album and your cover image should be at least 600 x 800 pixels in size. But again, if you don’t have the talent to do so, consider hiring someone to do it for you.
Warning: You need to ensure that the music NFT you create is your ORIGINAL content and not taken from anyone else. You don’t want to have copyright infringement problems along the way.
Encoding your music as an NFT
There are several different ways to do this, but our recommended method is the BitShares Music Blockchain. This is because it’s a very easy way to sell your music as an NFT and also because it allows for more creative freedom than traditional methods such as record deals or crowdfunding campaigns.
To encode your music with BitShares Music, you’ll need to download the BTSM Wallet and follow these instructions:
- Open the BTSM Wallet and click on “Create a new asset.”
- Enter a name for your asset and click “Create.”
- In the “Details” tab, enter the following information:
- Asset Symbol – You can use the same name for your cryptocurrency as you would a piece of art. It’s best to pick something short and easy to spell.
- Description – This is where you’ll enter a brief description of your music.
- Upload File – browse for and select the file containing your music.
- Click “Encode Asset” – Your music will now be encoded into an NFT format and added to the blockchain.
Read more: What Is An NFT? – How Nyan Cat Was Sold For $600,000
Marketing your music NFT
Next, you’ll need to start marketing and getting your NFT out there!
There are many different ways to do this, but we highly recommend using social media and online music platforms.
You can do marketing in several ways, including social media channels (e.g., Twitter, Instagram). You’ll also want to be sure to include a link back to your NFT so that people know how they can buy it.
If you have a large following on social media, you can post about your music NFT and generate buzz that way. You might even want to post a preview of the NFT so that people know what they get when they purchase it.
Read more: How To Make Money On Social Media
Online music platforms
SoundCloud is a music streaming platform that allows artists to share their music with the world. You can create a profile for your NFT and upload your tracks to be streamed by SoundCloud’s community of users. To monetize your music, you can sign up for SoundCloud’s Pro or Premium subscription plans.
Spotify is a music streaming service that allows users to listen to songs, albums, and playlists for free. To monetize your music on Spotify, you can sign up for the Spotify Partner Program.
Posting your NFT on forums like r/CryptoMusic in Reddit is also a great way to get the word out about it. People in this community are interested in both music and crypto, so they’re likely to be interested in your NFT as well.
The goal here is to get people excited about your new song so they’ll want to purchase it when it goes live on the market!
TIP: We recommend posting on these forums at least once per day until your NFT goes live. Plus, you can create a countdown from your social media platforms as well to keep them excited and anticipating for your launch.
Another way to promote your NFT is by creating a music video. This method can be a great way to show off your new song and get people excited about it!
A thing to keep in mind is that your music video should be interesting and engaging. You don’t want it to just be a boring recording of you singing into a microphone. Try to add some creative elements and make sure that the video tells a story. This will help capture people’s attention and encourage them to watch the entire video.
If you’re not sure where to start, there are plenty of online resources that can help you get started. YouTube is one of the best places to find tutorials on how to create music videos. You can also check out some other websites that offer free tutorials and tips for artists who want to learn more about creating their own videos.
You might even consider hiring a professional videographer or editor if you’re feeling overwhelmed with this part of the process, but note that this isn’t the cheapest option.
Distributing your music as an NFT
Once you’ve created an NFT asset, it’s time to distribute it!
These marketplaces allow users to easily buy and sell digital assets such as NFTs, music tracks, artwork, and more.
Creating an account on one of these platforms is pretty straightforward. You just need to sign up with your email address and, of course, your chosen password. (Don’t forget to save your logins somewhere safe so your account remains safe and protected).
Once you’ve created a user account, it’s time to make an NFT asset listing.
To do this:
- You need to upload the file associated with your music track.
- Set the price of each asset in ETH (Ethereum) or USDT (Tether), so you need to decide how many assets will be available for sale, and what the minimum price of your music assets will be or what they call the STARTING BID.
Again, it’s essential to always practice due diligence and DYOR (do your own research).
After that, you’ll need an Ethereum wallet to sign in with so that you can transfer funds from your account once someone buys them off OpenSea or Rarible.
Now, you’re all set up and ready to go!
At this point, all that’s left for you as an artist is to sit back and relax while the NFT marketplace does its work. Because when someone purchases your music NFT, the buyer will receive their digital music track via email or direct download link from OpenSea or Rarible.
It’s that easy!
When it comes to selling music as NFTs, there are a few final tips that we recommend following:
- Make sure your music track is of high quality and that it sounds great when played back.
- Set a fair price for your music NFTs, taking into account the time and effort that you put into creating them.
- Use a reputable NFT marketplace to distribute your music to ensure that buyers can trust and that they’re getting what they expect.
- Promote your music NFTs on social media and other online platforms to help generate interest and increase sales.
- Have fun and enjoy the experience of selling your music as NFTs! You’ve worked hard to create them, so now it’s time to sit back and reap the rewards.
Congratulations, you’ve now become a part of the exciting world of NFTs!
Featured image: Prostock-studio/Shutterstock.com