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Music NFT Creation, Sales and Buying

Apr 27, 2022

Discover Online Classes in NFTs

Buy, create and sell your own NFTs and much more.    

 This post isn't designed to offer financial or investment advice.

An impressive $91 million was the cost of the work of art by PAK, "The Merge," a piece of digital art chopped into unique shares and was sold for nearly nine figures when put together.

Think of them like "receipts" which prove you own an underlying asset.

When most people say NFTs, they're usually referring to digital works of art, like icons and paintings. However, there's no reason why NFTs can't back other types of art, especially music.

In fact, it's already taking place. One musician, the DJ and producer 3LAU who was able to sell $11.6 million worth in NFTs in just 24 days. Post Malone once sold an NFT by giving away a game of beer pong to the star to get the NFT ownership.

 What is HTML0? Make a Music NFT

First, you need to understand what a music NFT actually is. The idea is to create a digital token which isn't the same thing as a music files. You first have to create the highest-quality, compressed audio formatted file known as an MP3.

Digital Music Software for Publishing MP3s

  • DAWs. Digital Audio Workstations, also commonly referred to as DAWs, permit you to create, record, and export music in most cases as WAV files. Popular names here include Fruity Loops, Pro Tools, and Ableton Live. However, keep in mind the fact that exporting your audio to WAV files will leave the user with massive sound files. You'll need to compress and save the MP3 file in order to make songs that will be suitable for the way that most people consume music.
  • Audacity. Audacity is free, open-source music editing and recording software. It can take your huge WAV files and compress the files into single-track, high-quality MP3 files that work great for NFTs.

So now you find yourself in the middle of an MP3 download. You may even be able to find a fan via social media who are willing to purchase the NFTs you have stored.

It's not important until you understand the click-by-click procedure for minting your NFT. It's easy enough that the process of minting NFTs is possible through a number of platforms where you can sell the NFT.

 Where to Sell Your NFTs

Market Options for Music NFT

Your first step will be to research options for making NFTs. (Note: for some of these options, you might need to set up your own cryptocurrency wallet before getting started. There are instructions on how to do this further down.) Here are some of your most profitable options for musical instruments NFT marketplaces:

  • OpenSea.io :OpenSea is an NFT marketplace that allows you to buy or creating NFTs that are of any kind, including music. Heck, you can dip your toes in the waters by signing up for the purchase of music NFTs without ever creating any yourself.
  • Rarible : Rarible is yet another NFT marketplace, placing in the spotlight creating NFTs for you. You might have to have an account with a cryptocurrency in order to go past the main page, so if that's you go to the section on linking accounts to these platforms.
  • OneOf :OneOf is an excellent marketplace for learning about the new releases, and also for getting started in the world of NFTs in case you're not sure or have no how to get started. There is a FAQ section which explains how you can use OneOf and lets you purchase NFTs with credit cards.
  • NFT Showroom : Built on the HIVE blockchain, NFT Showroom tends to be a collector's paradise for unique items in the world of digital art. It's still worth checking out to get a sense of what's selling, what kinds of prices various digital assets have been acquiring, and also how things are going in the music industry NFTs.
  • MakersPlace :Like OneOf, MakersPlace offers highlights of most recent "digital releases" to keep you abreast of the latest trends in the NFT market. There is also an explanation of the "sell" section that makes it easy to mint NFTs on your own making it ideal for novices who are aware that they would like to publish NFTs but don't know how to get started.
  • NiftyGateway : If you're an ETH (Etherium) professional already, consider using NiftyGateway for some nice savings on "gas fees"--more on those later. NiftyGateway has gained acclaim as the site on which most of the world's biggest digital sales have taken place. It is easy to navigate according to the source of artists, price as well as the types of cryptocurrency in the marketplace.

We'll use OpenSea to illustrate how to create and sell music NFTs. You'll be able to accomplish this task fast if have the basics.

  • Design your "collection." A collection is as large or small as you'd like. Want your customers to buy music NFT assets that comprise the entire catalog of your music? It is possible to do this here. Or you can develop a set of tracks that are essentially equivalent towards an album. There is also the option of creating the "single" version, if you think it's likely to be a success. You can hover over your OpenSea username on the upper right and choose "My Collections." On the collection's page, choose "Create A Collection."
  • Enter  "create." Once you've got your collection made up, you're ready to go. Be aware that as per Geek Culture, you need to enter the correct address in order to create several copies of the same asset.
  • Upload your music. This is also an ideal time to upload your artwork, artist info as well as song titles. In the process, you'll include a URL and an external hyperlink to the music you've uploaded and a brief description of the audio (along with additional information), and ultimately, select the album that will house your music.

There'll be "gas fees" that are associated with the minting of your songs, which are an equivalent to transaction fees which is why you shouldn't begin to mint until you're sure you can make into a profit. Select "Create" on the right side of the form using OpenSea after you're all set.

Voila. You've just learned how to create a music NFT. That wasn't so hard to learn, wasn't it?

   Make yourself a musician with NFTs  

   Transform Your Artwork into an NFT--Join the World of Digital Art  

 NFT Music Considerations Prior to You Get Started

You'll notice that we took a large portion out of our process, which is this cryptocurrency stuff.

If you're just beginning to learn about cryptocurrency, the whole idea may sound a bit absurd. Therefore, let's get the fundamentals out first.

  • What exactly is Ethereum? What exactly is MetaMask? What is Coinbase? There are words such as these tossed out as part of the minting process, and the answers are simple: these are currencies or platforms. Ethereum is a digital currency that makes it possible to sell and buy NFTs. Think of it as the "digital currency" for the majority of the NFT world. MetaMask is a kind of crypto wallet you can add to your browser for convenience. Coinbase is a cryptocurrency trading platform, which also provides wallet services.
  • What is the reason you can't buy and sell NFTs in dollars? Be prepared for this exciting explanation. You are aware that an NFT is a token that cannot be fungible. Etherium, a cryptocurrency, is also fungible, meaning replaceable and interchangeable. Both work on the blockchain in order to prove digital ownership of either asset. Since the NFT publishes to the blockchain, you'll still require a way to prove that you are the owner of this particular token. It's a requirement for trading on the blockchain. There's a good thing: it's easy to get set up with an exchange like Etherium simply by going to MetaMask and buying ETH using the standard method. What about trading NFTs? Consider it an economy in the process of developing it is now.

It's not necessary to be an expert in all this for a good music NFT, however if you're asking "What is a Music NFT?" before you even begin, it is helpful to understand the basics in the world of digital.

Setup a Cryptocurrency Wallet

There's a thing that numerous music NFT sources may not inform you about: You'll likely need a crypto wallet to make everything run smoothly. On the internet, particularly on digital platforms, assume you already possess the MetaMask wallet. You don't even knowing what it is.

It's good to know that setting up a wallet isn't at all as complicated or difficult as you might think. Here are some options.

  • MetaMask : People love MetaMask due to its ease of usage, its simplicity and also the fact that it can set it up to work with an array of different platforms for doing things, like minting music NFTs. MetaMask provides rapid access to Etherium, which is going to be vital if you're planning on publishing digital music assets any time very soon.
  • Coinbase : Coinbase is one of the largest platforms for buying and selling cryptocurrency. It's also worth noting that Coinbase's services for wallet offerings may be different when you sign up for Coinbase its website. To get your wallet, you'll have to head over the website Wallet.Coinbase.com and get setup.
  • Ledger Live :If security is your priority, you can also set up an "cold wallet" by using Ledger Live it offers you a tangible token that you plug into your personal computer. This then keeps your electronic "keys" (remember that we're recording receipts here) in a secure location, so that you can store them in a secure place in the safe. Ledger Live is the software equivalent to Ledger Live that lets you purchase, sell, and trade cryptocurrency in a conventional method, on the web.

The difference between the "hot" wallet and an "cold" one is the fact that an "hot" wallet like MetaMask is something that you store in your laptop for quick electronic trading. You'll have more protection with a cold wallet, but it will be more difficult to purchase and sell often. For that reason If you're planning to mint music NFTs your best bet is to select a "hot" wallet like Coinbase or MetaMask.

How to Choose your NFT Blockchain

We should keep it easy. Etherium is built on the blockchain. Bitcoin is built on a blockchain.

They're just not exactly the same blockchain.

Did you remember when we talked to you to choose a cryptocurrency to use when you publish a music NFT using OpenSea? The most popular choice is Etherium. It's actually an important decision, since it implies that if you were to use a different provider--one with a different blockchain -- your possibilities for purchase may be limited.

In addition to Bitcoin, Etherium is perhaps the most used blockchain worldwide. The majority of top NFT sales you've seen recently took place in Etherium. That's why ETH as well as its symbol, Ks is so widespread in the world of NFTs. It is possible to purchase NFTs with it, sell NFTs with it, and everything else because you know there are going to be other people who will accept it.

However, there's one thing to keep in mind: gas fees.

If you are planning to create a lot digital currency, these fees could eat out the profit you earn. You might want to shop through the best NFT platforms in this list to see which will charge users the lowest in fuel costs. That's especially true if you are in the middle of a large number of NFTs to make.

Managing Expectations

If you're an artist who is successful who has a huge audience on social media, you might be able to find that getting your feet into NFT waters can be an extremely enjoyable adventure. It will allow you to make quick sales and gain access to a totally digital marketplace, and generally be content with the knowledge you've gained from the experience.

But what does it mean if you don't own even one in the meantime?

So, if you're thinking of making NFTs could be a bit ahead of the curve. Many people worry that NFTs can cause negative environmental impacts because of the electricity demands of the blockchain. This factor makes some people not want to be part of the economy of the digital.

The fact that NFTs are popular doesn't mean that the use of any NFT will produce massive sales. The same principles of supply and demand hold true in this marketplace.

This is why you should think about the different forms of tokens you can make. It is true that you can to tokenize an entire album. It is possible to tokenize just a single. What if you stirred more buzz by inserting an additional one to a token?

The trick here is not to think that you can make millions from NFTs in a matter of hours. Someone like Steve Aoki can do so due to his well-established worldwide fan base. Within the music industry it's not an easy route to fame. They're an opportunity to transform the work you've made into a digital product that can be purchased and sold on the web. When you've figured out the distinction--and how you can make both ideas work in tandem, you'll start to see your creative efforts pay off.

 Making Music NFT Creation into an Art Form

The world of digital assets has created a completely new market. What was once difficult to quantify is now able to be purchased and sold on the blockchain in complete transparency and complete transparency.

The outcome? A revolution in the way individuals interact with their digital space.

However, digital collectibles such as music NFTs are still at a stage of growth. It could be a moment that music NFTs become the default method for artists to publish their work. They may create one-of-a-kind NFTs to promote their new album releases. The future may be different, and rather than streaming it, you could simply connect your wallet with crypto to a speaker, and then say "have to look."

   Learn Music NFTs Overnight  

   Get to know everything about music NFTs for Artists and Music Fans!  

 This post isn't intended to be financial advice.