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The Lifecycle of a Music NFT

As an artist, you want your music to get out there. NFTs are a great vehicle to do that with. The music NFT lifecycle has four steps. Let’s have a look at what they are.

The Four Steps in the Lifecycle of a Music NFT 

Before we can start with the four steps, we need music. You can make samples or songs, and you want to release them. Sweetman.eth, a smart contract and JavaScript engineer, wrote a mini-Twitter thread, as shown above. He shows the complete Web3 way to get your music listed. Where you, as an artist, are in control. 

We elaborate a bit more on the four steps. Besides being a musician, you also need to be a coder for the first step. For the second step, you have to be a lawyer and businessman. But at the end of the day, you want to get the best possible deal for your art. You worked hard for this, and now it’s time to reap the benefits.

Metadata

Once you have music, your lifecycle journey can start. Most importantly, you need to organize your metadata. So, we require a software registry for node.js. NPM is what you’re looking for. This software has well over 800,000 code packages. It supports any common audio and tagging format, and it has on-chain storage. For example, from APE to MP2 or MPEG 4, as well as WAV or WMA. NMP allows you to install code packages from other people into your own project. It extends the functionality of your JavaScript applications. Mainly with automated dependency and package management.  

There are many options out there, so you need to do some research. Find out which ones suits you best. This , in a free license from MIT, has over 40,000 downloads per week.

Minting

The next step is to mint your data into an NFT. There’s a lot of information you can add to your NFT besides the actual music. You want to have true creative ownership. But there’s more – how about preserving on-chain provenance? You also want your work exposed to all major NFT marketplaces.

Beyond minting, you want more features in your contracts. For example, royalty management. You want custom contracts. Well, that’s possible. There are various options available. 

Catalog.works is one option. However, they seem rather centralized. A decentralized option is Manifold. Among others, Jay-Z minted with Manifold.

These platforms offer authenticity and are interoperable. They also offer extensions or “plugins.” For example, you can mint the following NFTs.

  • Dynamic NFTs — Colors or layers can change, based on events. Like weather or crypto prices.
  • Redeemable or swappable NFTs — The creator receives the original NFT. He returns a new NFT instead.
  • Lazy Minting — You don’t need to mint all NFTs in one go.
Marketplace

We all know the usual suspects. The OPENSEA platforms of this world. However, sweetman_eth has a Web3 alternative. It puts the creator a bit more in the driving seat. Meet , the NFT marketplace protocol. For example, it’s permissionless and censorship-resistant. They want to give the creators as much power as possible over their art.

Zora offers this in a decentralized way where you are in full control.

Nonetheless, whatever platform you end up choosing, make sure your music is out there. Interoperability is the key word.

Source:

Metaverse

This is where you stay in control, in real Web3 style. As a result, with Spinamp you cut out all corporations. We just wrote an article about this platform.

They have a desktop and mobile app which allows you to play music NFTs. Furthermore, it connects to the Ethereum L1 and Polygon L2. This gives you access to various other data, like creation dates. 

The app lets you listen to over 500 Web3 artists. Especially, their desktop app is worth looking up. It’s a flashback to the internet look of the 1990s. However, it works with technology from the 2020s. The metaverse is at your feet.

Source: Spinamp

Conclusion

Now you know about the lifecycle of a music NFT in Web3. As a creator, you can stay in full control of your art throughout the whole creation process. That includes the minting, selling, and getting exposure.

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 8/3/2022

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