This Week in Music NFTs - July 24

July 26th, 2022

Music NFTs are gaining momentum.

From Daniel Allan’s Glass House to Hume’s Genesis Pass, this past week saw two sold out drops that moved the needle.

There’s a new wave of web3 artists in town.

One’s shaped natively by the space, driving their career in a way that’s uniquely distinct from the distribution models today.

And major artists are taking notice.

For those who were around SoundCloud in 2013, it’s hard to forget when your favorite artist reposted one of your favorite tracks. Or when they’d drop a mixtape and feature an emerging act on the brink of success.

Those moments are starting to take place in web3.

But here’s the catch. Web3 is not for everyone (yet).

Metamask is strange to install. Sending yourself ETH is weird. Paying $100+ for a digital collectible doesn’t make sense to most people who can barely afford a general admission ticket. And most of all - it’s pretty damn hard to listen to your own Music NFTs.

So here’s my take. Focus on the superfans.

Recognize that selling to web3 collectors is very different from servicing your everyday fan.

Think of it like a Vegas club. You have the fans in the pit singing every song, and you have the high rollers buying tables without a clue who’s DJing.

Right now - more collectors are high rollers than they are everyday fans. That will change, but for now - lean into that relationship.

Recognize that they might like “music”, but they probably don’t know the lyrics to your new single. Or any for that matter.

And that’s ok.

Treat your artist project like a business. Learn to segment your audience into different lanes and most importantly - learn to delegate. (tune into this convo at 30:00 for more on this).

Artists just want to make beats.

Collectors just want to collect.

Don’t overthink it - just keep minting.