Why Spotify's latest NFT integration disappointed...
+ $4.3 million raise from music nft company and 7 stories in Web3 music.
gm music fans,
We have entered the long, slow part of the bear market where many start to lose interest. If you’re still here and curious about onchain culture, then I want to say a big thank you!
I’m here because I believe open, decentralised systems are the best hope for creatives and entrepreneurs, and the culture growing here is unlike anything I’ve seen in music, art and fashion for a long time.
This week, Spotify dipped its toe back into the NFT game and a Web3 music platform announced a $4.3 million raise. Here everything you need to know…
Discover some of the best music in Web3 through our Spinamp playlists, where we curate songs from various NFT platforms into one place.
Ziggy Ziggy Daily - Our favourite music in Web3 updated every day.
Ziggy Ziggy Breakouts - Artists at the cutting edge with potential to break into something bigger.
Ziggy Ziggy Beats - Our favourite underground dance and electronic music.
1. Spotify dips another toe in Web3
Spotify rolled out another Web3 partnership this week with Moonbirds — one of the leading NFT projects. Moonbirds holders can access an exclusive playlist of music on Spotify by connecting their wallet.
The response was “meh.”
It’s cool to see Spotify trying things out in Web3 but a private playlist is not a particularly compelling use of NFTs and blockchain, and the Moonbirds community was quick to point out that it didn’t align with their vision or add much value to the project.
Spotify has previously rolled out this feature with KINGSHIP (the Bored Ape music supergroup) and a handful of others. Hopefully this is an early experiment with deeper integration to come and features that resonate more deeply with artists and music fans in Web3.
Our take: Legacy music companies need to enter Web3 with intention and purpose. Spotify would likely get a better reception by engaging with the growing number of artists and music communities in Web3 rather than chasing high-profile partnerships.
2. Web3 music platform raises €4 million
Anotherblock is a music NFT platform that enables fans to own streaming royalties in huge hits — such as Rihanna’s “Bitch Better Have My Money.” Unlike other royalty-share platforms, Anotherblock doesn’t partner with the artist directly, but instead works with producers, publishers and songwriters to unlock ownership.
The Swedish company announced a €4 million raise this week led by UK’s Stride.VC with participation from Axwell from Swedish House Mafia.
3. Sound.xyz mobile app is here
Leading music NFT platform Sound.xyz opened its mobile app to everyone this week after a short beta testing period. The app allows you to browse the latest drops, make playlists and stream music (but no purchasing NFTs… yet). Get it here.
Every week we bring you the latest developments from Lens Protocol — the Web3 social layer where a thriving music community is growing.
Riff, the native music app on Lens, now allows you to collect songs without a Lens profile. It’s a huge UX boost for the accessibility of music NFTs on the ecosystem.
The Lens mobile app Orb continues to improve its music experience. Check out the new ‘Sounds for you’ mode which recommends music to you based on different genres.
4. The future of music NFTs on layer 2?
High gas fees on Ethereum continue to dampen the music NFT market. Collectors are struggling to justify paying $15+ on gas for a $10 music NFT. Talk is shifting to layer twos like Optimism and Polygon, while some artists and collectors are experimenting on Tezos.
Learn the fastest way to bridge to Optimism here.
5. More AI x Blockchain crossovers
Warpsound — which remains the biggest music NFT project by volume — is building an AI music tool. You can enter a prompt for the type of beat you want and it’ll create something for you. Check it out and get on the waitlist here.
6. NFT season pass for fans
Artists can now offer their fans an NFT “Season Pass” which grants them access to a bundle of exclusive content and experiences for a set period of time. It’s powered by Medallion — a Web3 tech platform — and currently open to a select group of artists including Illenium, Santigold, Sigur Ros and others.
Illenium was the first artist to use the Season Pass, offering his fans digital merchandise, exclusive content and fast-track merch access for his upcoming tour.
7. Music as streetwear?
I’ll leave you with a concept that I haven’t stopped thinking about all week. One of the smartest thinkers in the Web3 music, art and fashion space, Mary, wrote a thread advocating for music NFT drops to learn from luxury fashion and streetwear trends.
This is something I’ve been thinking about for a long time but haven’t been able to articulate. It’s worth a read and consider whether the vast abundance of music in Web2 could be distilled into scarce, exclusive, valuable drops onchain.
Thanks for reading!
We believe a new generation of independent music will be born out of Web3 culture. Discover the best music here first. Follow us on Twitter where we share the best music every day.
Ziggy Ziggy Music Season 2 is supported by Spinamp and Lens Protocol.
Disclaimers: Ziggy Ziggy Music may own NFTs mentioned in this article, have previous or current contracts with projects and may earn referral income from links to music NFTs.
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