2022 is coming to an end.
In the span of a year, Music NFTs have gone from a Twitter meme to an emerging market.
While there’s still a long way to go before the sector sees any serious volume, let’s highlight some of the differentiators from the rest of the market:
Accessibility - Most Music NFTs cost less than $50.
Variety - There are 50-100 new songs dropping every week.
Audience - Less than 1% of all music fans know Music NFTs exist.
Put it together and we have the recipe to bring an entirely new demographic of users to the table.
If 2022 was about getting artists to mint their music, 2023 is about finding fans to collect.
Web3 has proven the 100 True Fans theory.
However, artists need more than 100 collectors to get mainstream attention.
So - the question becomes, how do you get fans excited to collect and share new music?
I don’t have a great answer yet, but this is the biggest question on my mind heading into the new year.
While the markets may have felt slow from the outside, rest assured everyone is taking a step back to catch their breath.
2023 is going to blow this year out of the water.
Here’s what to watch to close out the year Music NFTs were truly born.
Listen to Freshly Minted on Spinamp
Collect while listening to music directly on Spinamp
Arpeggi teams up with Daniel and Reo for their first token-gated sample pack.
LNRZ ends season one with a track from the core team.
Music Ben recaps highlights from 2022.
NFT Now recaps some of the biggest moments from 2022.
Violetta sounds out the second round of her Gypsy Passes
People are gifting Music NFTs for the holidays
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Disclosure: I am an investor in Arpeggi and NFT Now. I am an avid collector of LNRZ and own many of the NFTs mentioned in Freshly Minted.