Want to help test a new music app?
Plus, everything you need to know in music this week.
gm music fans.
It’s been a while since I wrote you an email so hope you are all doing well out there!
There’s a lot going on in the crypto world and legacy music industry, but first I want to quickly introduce you to a new music app I’ve been working on.
Introducing Factory . fm
Factory is a super simple concept — you rate and log your favorite albums. It creates your own personal diary of the music you love (similar to Letterboxd for movies or Goodreads for books). You can also discover and bookmark music from others.
We just started testing and would love you to try it out (you don’t need a crypto wallet to get started). Just join the waitlist with an email and I’ll get you inside asap!
Headlines
Zora’s new model
Zora is Ethereum’s biggest platform for art, music and creators. Yesterday they announced a huge shift in their model which lowers mint prices and creates liquid trading markets around art and music — here’s the tl;dr:
The standard mint price has been reduced from $1.90 to $0.30
The basic mint period is now three days.
After three days the mint will turn into a liquidity pool on Uniswap so a song or piece of artwork can be traded like any other cryptocurrency.
To showcase the new model, Zora launched their latest orb which generated 500,000 mints in 3 hours before turning into a tradable coin currently at a $1.4m market cap.
For music, this means you could upload a song to Zora, let early fans collect it before it turns into a tradable token.
Coop Records launches its own platform
Coop Records has released 350 songs onchain in the last year from more than 100 artists. This week they launched their own platform which allows you to earn crypto rewards and points for collecting songs from their roster. (Read more).
Doodles Records goes live with Pharrell single
One of the major NFT projects from 2021, Doodles, launched Doodles Records. The first single “Not in the Store” features Pharrell and requires a Doodles TV pass to hear it before anyone else. (Read more).
Checking in on the music industry
Atlantic Records CEO steps down after major restructure at parent company Warner Music. (Read more).
Subvert - a “collectively-owned Bandcamp” is launched by Austin Robey, former co-founder of Metalabel. (Read more).
Drake dropped 100GB of music and video footage.
Adele announced a “pop-up stadium” in Munich for a run of 10 shows. (Read Rob Abelow’s breakdown of this).
Zooming out: Broader Web3 News We’re Watching
ETH falls as low as $2,200 in macro market-wide sell-off.
Coinbase revenue is up 105% year-over-year.
Zora introduces “Sparks” — a small unit denomination for Ethereum.
Tether reports record $5bn profit.
Basecamp and Friends With Benefits FEST brings together builders and crypto culture communities last weekend.
Battle of web3 social — Lens currently growing faster than Farcaster. (Read more).
Palm Tree Crypto investment fund releases Q2 Consumer Crypto report. (Read here).
Biggest music drops of the week
At Ziggy Ziggy, we just launched a new series of limited edition music drops. We’re kickstarting with BUZZ — an LA songwriter and one of the best vocalists I’ve ever heard. There are 50 editions available — our equivalent of a first edition vinyl.
Thanks for reading!
Disclaimers: We may own NFTs mentioned in this article, have previous or current contracts with companies mentioned and may earn referral income from links to music NFTs. This newsletter is purely informational and should not be considered financial advice. Nothing in this content should be considered a recommendation to buy a particular NFT, only an expression of our opinion.
YES! I am in