During the latest Web3 Wednesdays series, we explored music NFTs, sourcing views from Cooper Turley, Adam Levy, Sebastian Aldasoro, Aidan Musnitzky, and Evgeny — hosted by Abi.
Mint the episode as Polygon NFT on Lenster
Here are some quotes to give you a taste of what was discussed.
What Web3 means for music
Web3 is a more direct payment channel for artists. There's never really been a great way to support them. You can listen to music on Spotify. Buy a ticket to a show, buy a t-shirt. But I believe that collecting music as NFT is the most direct way to value the art itself, which is the song.
Curator rewards
On platforms like Spinamp, if you share a playlist and someone buys the song through your playlist, you get 5% of that mint fee.
This precedent unlocks an entirely new generation of work for independent curators. They no longer have to start doing under-the-table deals for someone to add a song to a playlist. They can just share a referral link. And if someone likes that song, you can get paid as a curator.
How to select which music NFTs to buy
Do you like the music? Is the artist aware of the Web3 culture? If they are spending time to develop a voice in this niche, that's going to be a way to stand out as an independent artist today and gain a foothold as this space starts to grow.