This Week in Music NFTs - May 2
A bumpy week for Music NFTs as the sector looks to expand.
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It was a rough week for Music NFTs.
Collector demand staggered with the cooldown of the rest of the NFT market.
Music NFTs are still waiting for that breakout moment, and until then - many top NFT collectors are still waiting on the sideline.
The rate at which new artists are joining is higher than ever. However, we’re seeing very clearly that without the legwork and support of the web3 community - drops aren’t going to sell themselves.
I’ve long said that we shouldn’t normalize a drop needing to sell out in the first day. However, for early Music NFT artists - this was the case.
The days of being able to easily mint on Sound or Catalog and expect a sale within 24 hours are probably over. Royal is still on a perfect streak with sell-outs, but this seems to be an exception from the sector at large.
For the artists reading this, invest serious time into your peers. Instead of worrying about reaching 100,000 people on Instagram, worry about reaching 10 collectors on Twitter. It feels exhausting, but this is really what it takes.
For collectors, take note of who’s giving web3 a serious chance. This is where the alpha is and what will post the best returns.
This week I’ll be breaking down Music NFT artists by genre - helping to give a better picture of who to watch for.
In the meantime, enjoy an updated look at the Music NFT Landscape and remember, we are still extremely early.
Upcoming Drops
Felly - Bad Radio - Sound - 25 Editions - May 4th
Riz La Vie - Nitelite - Sound - 25 Editions - May 2nd
Kate Nash - Try to Forget It - Sound - 25 Editions - May 4th
Freshly Minted
Artist Spotlight - Bloody White
With some of the most diverse production in the game, Bloody White is a web3-native artist in every sense of the word.
He’s sold multiple records on Catalog, has done two drops on Sound and is a part of Pollen - the duo between Bloody and Daniel Allan.
When it comes to web3 making an impact on an artist’s career, Bloody has always been vocal about the role it played in his growth.
Expect big things from Bloody in the months to come!
Top Stories
Fortune Covers Music NFTs
Music NFTs get a big feature on Fortune.
RAC Partners with Guild for Superfan Club
Grammy-award winning producer RAC creates a token-gated fanclub
Sound Crosses 100 Artists Onboarded
Sound passes 100 artists who have minted on the curated Music NFT platform.
Heds DAO Launches V2
Heds debuts a new site ahead of their fourth mixtape.
RŌHKI Announces Mint Date
The pseudo-anonymous web3-native artist project announces it’s first mint date.
Bonus Reads
[Lyrah] - Music NFT Credits
[Coopahtroopa] - Music NFTs Q2 2022
[Hard] - Music NFTs in the Metaverse
[Koodos] - Mint SoonTM
[Karma] - Golden Egg Airdrop
[McClenney] - Sound Hustle
[Daniel Allan] - 1 Year Anniversary
[Spinz808] - Collector Airdrop
[Alli] - Music NFT Wishes
This Week in Music NFTs is curated by Coopahtroopa. To stay up with the movement and submit your work to be featured, follow me on Twitter!
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