Gm music fans.
Here’s a quick recap of everything going on in Web3 music this week.
1. Own a slice of Rihanna’s “Bitch Better Have My Money”
From February, fans can own a portion of future streaming royalties in Rihanna’s track “Bitch Better Have My Money” via NFTs.
The drop goes live on February 9th on Anotherblock - a platform that partners with producers and publishers to unlock streaming royalties in songs by major artists like The Weeknd and Alan Walker.
For 0.145 ETH (~$210) holders will get 0.0033% of the *future* streaming royalties. I emphasise ‘future’ royalties because the track was released in 2015 and already has 670 million streams.
2. Live experiences and festivals could be key to NFT adoption
A new research report and survey by Web3 platform Guzzu has some interesting insights into the potential market for music NFTs. Here are some takeaways from the report.
Digital merch beats the metaverse - Interest in “digital merch” (43%) is significantly higher than interest in the “metaverse” (24%).
Environmental impact matters - 90% say they are more interested if it uses green technology.
Live experiences could be key - The majority of those who would buy NFTs said that unlocking live experiences (91%) and festival access (89%) would be the biggest draw.
Younger age groups ‘get it’ - Unsurprisingly, the interest in NFTs is highest among the 18-24 age range.
You can unlock the full report at Guzzu’s website. The company surveyed 4,000 people across 8 countries (bear in mind that it’s not an independent survey - Guzzu is a platform for NFTs).
3. Music video NFTs getting traction?
Glass.xyz — a platform that specialises in music video NFTs — is showing strong growth over the last 30 days.
Notably, much of the platform’s growth has come since switching to Solana.
4. Catalog Announces Cycle 3 Curators
Catalog is the leading marketplace for 1/1 music NFTs. The team has a unique curation program, allowing select members of the community to onboard new artists, resulting in a diverse range of music on the platform.
Catalog just revealed the latest season of curators - stacked with influential names in the music space.
5. A new wave of Web3 music managers?
Music NFT collector and investor Cooper Turley recently announced a launchpad for native Web3 music managers. Co-ordinating music campaigns in Web3 requires a completely new skillset compared to the legacy music industry so this launchpad aims to onboard managers into this new world.
This week, Turley revealed the first cohort - a good chance to follow future leaders in the Web3 music space.
6. Free NFTs pick up speed in Web3 music
I’ve been saying this for a while … free NFTs are going to be the big story of this year in music as a way to build community and loyalty.
Artist Jadyn Violet is giving out free “Orbs” to people who join his daily Twitter Spaces and figure out the secret word. This ‘proof of attendance’ strategy is going to be key for artists and musicians to capture and reward their earliest supporters.
7. Warpsound anniversary drop
It’s been a year since Warpsound dropped its AI music project (to this day, it’s still the biggest ever music NFT project by volume).
To celebrate the one year anniversary, the team collaborated with Secret Garden to drop this free interactive music NFT to all holders.
8. Builders keep building
Overall, the momentum in Web3 music has slowed down a little in January. But the founders and teams in the space are still shipping:
Music NFT aggregator Ooh La La shipped a host of new features for discovering and collecting music.
Artists can now host token-gated live streams using Web3 streaming platform The402 and Lens Protocol.
Tellie (a Web3 website builder) launched ‘Tellieport’ - magically transform your Linktree info into a beautiful homepage.
Metaverse record label Hume Collective hires experienced music industry exec Adrian Karvinen as VP of Music Business and Partnerships [Music Week].
Thanks for reading
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