WTF are Music NFTs?

Yes, NFTs are more than jpegs

Reading time: 3 min

“You NEED to listen to this.”

My best friend sat next to me on the school bus and tossed me his CD player.

In his hand was an album with a shirtless dude on the cover. I didn’t question him, put the headphones on, and pressed play.

Go, go, go, go, go, go

Go, shawty

It's your birthday

We gon' party like it's your birthday

We gon' sip Bacardi like it's your birthday

And you know we don't give a fuck it's not your birthday

In Da Club, 50 cent

The beat. The energy. The lyrics. All the swearing. My little 8-year-old mind was blown.

That was my first introduction to hip hop and I was hooked. That night, I begged my mom to drive me down to the mall so I could buy my own copy (though the store would only sell me the clean version).

Since then, music has been a big part of who I am.

Music has connected me with new people, I’ve made tons of lifelong memories at music festivals, and it’s helped me get through bad times.

I especially love discovering upcoming artists and trading music with the homies.

As a kid, I’d spend hours searching through artists on MySpace looking for unknown songs to set on my profile.

After discovering EDM in college, I’d dig through SoundCloud looking for new music, mixes, mashups, and artists on the rise. Ya boy always had fresh bangers ready for the aux.

I collected songs like they were rare Pokémon cards. I’d scope out artists like I was putting together a fantasy football team. I’d try to support them however I could, like buying merch and shilling their music to my friends.

But I wished I could do more and directly invest in their music.

Wouldn’t it be dope if you could invest in an artist you love, own a part of their song, and earn royalties?

Now, you can.

Music NFTs are unique digital collectibles that represent ownership of a song.

By using blockchain and smart contracts, music NFTs can track ownership and be programmed to give access to exclusive content or pay out royalties—all in an automated, decentralized, and transparent manner.

Smart contract

Noun: A smart contract is a tamper-proof agreement written into lines of code.

In today’s world, you can discover and listen to an endless amount of music at the touch of a button.

Streaming revolutionized the way we listen to music and has revived the music industry after a nearly 20-year decline.

More than 75% of people listen to music on streaming platforms. Streaming makes up 65% of global recorded music revenue and is expected to double over the next 7 years. This growing market has caught the eyes of big private equity firms like Blackstone.

A chart showing global music revenue

Source: Royal

Investing in music has only been available to hedge funds and other people with big pockets—until now. The blockchain is an open network that allows anyone to create or buy music NFTs.

Music NFTs are an innovative way for artists to monetize their work and for fans to invest in artists.

As a fan, you can directly support your favorite artist, benefit from streaming revenue, and take part in their come-up. You can also get exclusive access to digital content that’s not available through traditional music distribution channels.

Artists can sell their music straight to their fans and get to maintain independence and creative control while also getting the chance to capture more value from their music.

A win for both.

Dope, so how do you buy a music NFT?

Enter Royal.

Royal is a marketplace where you can buy and trade music NFTs.

Royal was founded by 3LAU, one of the DJs that got me into the EDM game (his 3LAU HAUS mixes are legendary).

You can buy songs from artists like:

  • Nas

  • Diplo

  • The Chainsmokers

And more.

Royal's website

Royal’s platform

And you don’t even need to use crypto. You check out with your card for an easy experience.

Music NFTs are an innovative technology that will transform the music industry. We’re still so early in the game and we’ve only scratched the surface of what’s possible.

Music is an exciting use case for NFTs and I’m hyped to see where it goes.

Peace,

Fifty Sat

P.S.

What do you like to listen to? Reply to this email and let me know.

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