It’s fair to say that some of the stonkbusting NFT sales earlier this year were down to crypto-rich collectors: people who’d made fortunes from bitcoin and other cryptocurrencies, and were happy to splash out on a Beeple or Grimes NFT. Ordinary fans don’t tend to have tens of thousands of dollars spare to join in, but there’s no reason why NFTs *have* to be expensive auctions.

Witness the second NFT drop from electronic music label Monstercat this week, for example. Yes, there’s a tier of 25 NFTs that are being auctioned off with starting prices of $999, and then another tier of 500 that cost $777 each as a fixed price. But there’s also a bottom tier: 1,000 NFTs being sold for $0.50 apiece, although buyers need to already own another Monstercat NFT to get one.

“If we want this community to grow, we have to give everyone a fair shake… so buyers at every level can own and trade NFTs, and watch their art appreciate over time,” CEO Mike Darlington told Variety.

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Stuart Dredge

Music Ally's Head of Insight

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