Discover more from Invest in Music
Quarterly Report - August 2023
Everything you need to know about the first 5 months of Invest in Music.
To our collectors,
Invest in Music was launched in March as a home for collectors and curators to discover leading artists and onchain music.
Starting in the midst of the bear market has been quite the journey. While we’re deeply passionate about onchain music, we recognize that this is a very new sector - and with that comes patience.
We’ve seen the tides change time and time again, and are excited to be in a new era with L2s paving the way for accessible onboarding to this niche corner of the world.
In this report - we’re going to cover:
Invest in Music Pass
We covered it all and more in our most recent podcast episode - so be sure to dive in for a deeper look!
To stay up with the latest - join our collector chat.
Let’s dig in.
Invest in Music Pass
The Invest in Music Pass is your entry to the onchain music community.
We launched the Invest in Music Pass in partnership with Mirror and raised 26 ETH to bootstrap the project.
The Pass gives you access to our collector chat and discounted mints - including but not limited to songs like:
Invest in Music is the 7th largest curator on Sound- having generated 4.388 ETH volume across 95 songs and 669 mints.
We’ve made 6 ETH from collecting our blogs and 1.889 ETH from collecting our podcasts - half of which was split directly with our guests.
We’re thankful for:
12,000 subscribers on Mirror
2,339 Invest in Music pass holders
3574 unique collectors
1,500+ Article editions collected
800+ Podcast editions collected
We have a learn and adapt mentality - meaning we are constantly experimenting and iterating on new formats and strategies.
We partnered with NFT Now to debut Invest in Music alongside a legendary skit with Kmoney.
We aimed to create consistent onchain music coverage that can be collected by readers.
During the first few months, we optimized for tons of coverage with a prevalence of song reviews.
We curated 20 editions of Music Monday and Weekly Recap newsletters.
We hosted 22 podcast episodes including:
We published 66 Spotlights including:
Launched a new Weekly Spotlight series
We learned that we were sending too many emails.
We were covering too many songs.
We started leaning into our podcast videos.
After an initial spike in collecting - that went down, even for free editions.
So we iterated quickly.
We started sending fewer emails.
We migrated the Weekly Spotlight to an X thread only.
We launched Clips to debut our podcasts - then as a new format three times a week.
We want to create more value for IM Pass holders.
In addition to expanding on our presales and polls in our collector chat, we want to empower holders to have an impact on onchain music at large.
After receiving feedback from the council, we iterated and worked on a different proposal currently in the preliminary selection stage of Cycle 14, a Curators Reward Program on which we hope to share more information soon.
We’ve migrated Music Monday and Podcast articles to X threads only.
We moved to one Weekly Recap - where we share our content plus a selection of top stories.
We will continue to focus on our extended video content, and looking to create viral moments for onchain music.
We’re working with Bello to create the first set of Invest in Music Artist Dashboards.
This is the first iteration of a series of data based tools that we will continue to develop with the goal of helping surf the industry.
Over time - we hope to evolve this into a full fledged data portal for onchain music stats.
The first quarter of Invest in Music has been a wonderful ride, and we wouldn’t have been able to do it without the support of our community and our incredibly talented team.
We want to thank the invaluable insights from community members VividFeverDreams, Marcus Martinez, Crittie, SDR, and Jason Meizner, during our first community call and IM pass holders interviews.
We want to double down our commitment to helping the onchain music industry grow while creating the most value for artists, collectors, and pass holders.
We’re just getting started, and we hope that you join us along for the ride.
Join the Community
Invest in Music is free to subscribe.
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