This Week in Music NFTs - July 24

1000+ Music NFT Sellouts. Free mints and how to think about web3 collectors.

Coopahtroopa

Jul 25, 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.

Coopahtroopa 🔥_🔥 @Cooopahtroopa

Congrats to @imdanielallan for selling 1000 Music NFTs as an independent artist. This was a huge undertaking and a major moment for the space. We like the Glass House 🦋

Daniel Allan @imdanielallan

I woke up this morning actually crying Within 24 hours of public mint, we sold out 1000 Music NFTs I asked my team to make this visual for me a few days ago - it was more for myself to keep and look at - I can’t believe I can actually post it now We just made history. https://t.co/0a2BeMkJzT

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.

San Holo ❤️ (68%) @sanholobeats

Claiming my profile on @soundxyz_ sound.xyz 7b22b734-95dd-499f-a15d-3a13037126d8

sound.xyzSound.xyzOwn A Song, Join A Community

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.

Daniel Allan @imdanielallan

Yooo @diplo I see you 👀

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.

Coopahtroopa 🔥_🔥 @Cooopahtroopa

Make web3 easier to use.

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.