What’s happening out there in Music NFTs-land today? Plenty, starting with the latest public analysis from Water & Music of the music NFTs space.
The research firm tracked around 1,500 NFT drops in 2021, generating more than $86m in primary sales. Independent artists were behind 64% of them, while 65% were based on electronic music and 19% on hip-hop. There’s plenty more to parse in the report.
Meanwhile, Ditto Music offshoot Opulous has rebranded its flavour of music NFTs. Previously called S-NFTs (standing for ‘Security NFTs’ to describe NFTs sold as securities under US financial regulations) they’ll now be called MFTs (standing for Music Fungible Tokens).
The company says their key points remain the same: they’ll include rights to music royalties, and will be fully compliant with SEC regulations in the US. There’s a longer explanation for the change here, and news of a full-album MFT sale with artist Kyle here.
What else? RCRDSHP has added a new feature called ‘Storefronts’, which sounds like a ‘Bandcamp but for NFTs’ to us. Artists and labels will be able to manage their campaigns to sell NFTs on the service, with RCRDSHP saying it has nearly 200 signed partners ready to launch in the second half of 2022.
Finally, music co-op The Rattle has debuted its move into NFTs. The Rattle Society will offer NFTs promising “backstage passes, front-row seats, and to pal-up with the most daring creative community in town”, with the proceeds used for “developing pioneering new models” to support that community. It kicks off today.
Tools: platforms to help you reach new audiences
Tools :: Wyng
Through Music Ally’s internal marketing campaign tracking, we’ve recently discovered an interesting website by the…