ELYSIAN Magazine

From Mixtapes to Metaverse: Why Musicians Should Sell NFTs

By Victoria Kennedy

by ELYSIAN Magazine

It might be shocking for some of you, but there once was a time where would-be musicians would walk around malls or down crowded streets, handing out their mixtapes to anyone willing to take one. In fact, some of your favorite musicians probably had to do this once upon a time.

While YouTube and TikTok have made it easier to release music, gain a following, and maybe even get seen by record labels, these platforms don’t always lead to success, especially when it’s increasingly easier to get lost in the crowd. Fortunately for the modern-day struggling artist, there is a Metaverse and NFTs, or non-fungible tokens.

At first, people thought the hype around NFTs would die down, taking this mysterious new world with it, but NFTs are here to stay, and it’s time we embrace the future. If you are an artist struggling with understanding what’s behind the Metaverse, this article will cover the basic reasons why you need to create and sell NFTs, making a profit from your art in the parallel universe that gets bigger every day.

Why All the Hype?

There’s a commonly shared belief that NFTs are the future of music, propelled by mainstream artists’ use of cutting-edge technology.

Travis Scott drew 27 million users to his Metaverse show, and Grimes gained $5.8 million in just 20 minutes with her NFT collection. Bands have even started releasing entire albums as NFTs, with The Kings of Leon leading the charge as the first to do it.

Blockchains and digital assets have changed the music game, and if you’re serious about the art you create, now is the time to launch NFTs.

Money

NFTs offer something every artist is interested in: money. You can sell things such as rare demos, exclusive video footage, and musical digital art. You can sell tickets to concerts in the Metaverse, hold VIP meetings with dedicated fans, and even put things like concert merchandise or limited-edition items on the virtual market.

Grimes has sold $6 million in unique video NFTs, and Lostboy NFT has become a popular music collective, integrating art, music, and a message on mental wellness. Taking your shot with this blockchain technology can be what launches you to popularity and provides you with the opportunity to start seeing money earned from your hard work.

Fans

This technology is still fairly new and it’s exciting. People are exploring the Metaverse and all it has to offer. This exploration could lead to you reaching global audiences you wouldn’t have been able to otherwise.

Drawing them in with perks like virtual backstage passes or lifetime concert tickets provides you and your fans with experiences neither of you thought was possible, potentially even leading to real-world VIP fan meetups, live events, and special seating. With NFTs, fan engagement gets taken to new heights.

Control

Many new-on-the-scene, naïve artists have gotten taken advantage of at the start of their careers, and sometimes even for the entirety of them. They lose substantial amounts of money to greedy record executives, they have few rights and little control over the kind of music they release. NFTs have the power to improve the downfalls of the music scene and reset the balance in favor of the artists.

They can help you protect your intellectual property and allow you to control who sells your work. You’ll have a record of ownership and transfer of your digital assets and your music will only be available through authorized channels. Another perk of NFTs? They are built on blockchain technology, so you can see every transaction.

No more bootlegs, no more stolen work, less fraud, and more trust.

Technological advances have been and will continue to be the driving force behind music production and dissemination. NFTs are now taking charge, bringing a new era to the music industry by presenting limitless opportunities for both fans and artists. If you haven’t taken advantage of what the Metaverse has to offer artists, 2023 is the time to do so.

 

About Victoria Kennedy

Victoria Kennedy is an award-winning crypto journalist and publicist. She is the CEO of Victorious PR, a Wall Street Journal best-selling author, a TEDx speaker, and a No. 1-selling singer. Her articles have been published in Forbes Monaco, Inman, Bitcoin Insider, Crypto Reporter and CoinCheckUp. She has been part of the crypto community from 2017; today she works as an adviser for successful crypto lunches and she covers global crypto events.

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