We’re starting to reach a tipping point.
This last week on Sound saw 32 drops - combining both new artists and seasoned vets for the most drops in one week to date.
Many artists are starting to show consistent release schedules, dropping once every week or two weeks.
While this is a fantastic direction - I wanted to give some quick commentary as a collector of these drops.
With more drops means more options.
Collectors only have a finite amount of ETH and as the drop calendar starts to scale - so too does the challenge to sell out.
Artists ask me a lot - how many editions and at what price?
My answer is always the same.
Target 1 ETH in total sales and strive for more demand for secondary sales than there is on the initial drop.
1 ETH is a lot of money. It’s basically 250k streams.
While I see artists selling 3, 4, 5+ ETH drops, this doesn’t paint the whole picture.
What keeps collectors coming back is knowing that if they show up to the Listening Party and manage to collect a limited drop, they can turn around and sell an edition or two on the secondary market for profit.
While it’s optimistic to think that all your collectors will support you just to support great art (which will always exist), collectors at large are going to be more interested in the ability to flip.
So - treat Music NFTs as a marathon.
Drop every week or two weeks, but do it in a way where you can consistently deliver value to your collectors.
This doesn’t mean utility (merch, meet and greets, tickets, etc.) - it means pricing your drops in a way where there’s a real shot for secondary market activity.
If you can find the right pocket - I promise you you’ll see collectors continually showing up eager and excited to collect each and every drop.
And oh by the way - Sound Market just launched as the new arena for Music NFTs.
See you inside.
Upcoming Drops
Genesis Drop
Freshly Minted
Listen to Freshly Minted on Spinamp.
Top Stories
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Sound launches its secondary marketplace for Music NFTs
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Angelbaby’s new track All Gold Spaceship mints today.
NoiseDAO Announces High Frequency Album
NoiseDAO shares plans to make a collaborative album for High Frequency
Chill Pill Launches Music NFT Staking
Chill Pill debuts a new staking mechanic for their collection.
Token Terminal Supports Music NFTs
Leading on-chain analytics platform adds support for Sound.
Bonus Reads
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