EVERYTHING YOU NEED TO KNOW ABOUT MUSIC NFTs
#MusicNFTs are one of the fastest-growing ecosystems in the NFT market, and this is just the beginning.
A thread 🧵👇
#MusicNFTs are one of the fastest-growing ecosystems in the NFT market, and this is just the beginning.
A thread 🧵👇
WHAT ARE THE #MusicNFTs?
Why not buy the song on Itunes? The response to that query is identical to that of purchasing JPEGs, which anyone can right-click and save.
Ownership of assets that can be proven to be unique and original is valuable to markets or people.
1/5🧵
Why not buy the song on Itunes? The response to that query is identical to that of purchasing JPEGs, which anyone can right-click and save.
Ownership of assets that can be proven to be unique and original is valuable to markets or people.
1/5🧵
ONLY A SOUND?
When it comes to what an NFT is in music, #MusicNFTs can handle a variety of formats in a variety of ways depending on how it is accessible.
For instance, an audio NFT might contain:
➡️PDF file
➡️Displays song lyrics or
➡️Message from an artist
2/5🧵
When it comes to what an NFT is in music, #MusicNFTs can handle a variety of formats in a variety of ways depending on how it is accessible.
For instance, an audio NFT might contain:
➡️PDF file
➡️Displays song lyrics or
➡️Message from an artist
2/5🧵
BIG ARTISTS ATTRACTING PEOPLE ON #MusicNFTs
Despite there being music nfts that don't have a great artist behind many others if they do, here are some big names that have created Music NFTs:
- Snoop Dog
- Eminem
- Steve Aoki
3/5🧵
Despite there being music nfts that don't have a great artist behind many others if they do, here are some big names that have created Music NFTs:
- Snoop Dog
- Eminem
- Steve Aoki
3/5🧵
VOLUME OF #MusicNFTs
While the average Total Volume of the Music NFTs collections is between 20ETH - 200ETH there are some collections such as WVRPS by Warpsound that have a volume of 6.1k ETH.
More than a lot of (No music) NFT collections.
4/5🧵
While the average Total Volume of the Music NFTs collections is between 20ETH - 200ETH there are some collections such as WVRPS by Warpsound that have a volume of 6.1k ETH.
More than a lot of (No music) NFT collections.
4/5🧵
A BIG MARKET BEHIND
The annual revenue of the global recorded music industry is $25.9 billion as of 2021.
Roughly 7.11 billion people listen to music
The adoption is slowly coming, and that means that the #NFTs market will absorb part of the traditional world of music.
5/5🧵
The annual revenue of the global recorded music industry is $25.9 billion as of 2021.
Roughly 7.11 billion people listen to music
The adoption is slowly coming, and that means that the #NFTs market will absorb part of the traditional world of music.
5/5🧵
As we can see the Music NFTs have come to stay and will most likely revolutionize the future of music.
If this thread has been useful to you, please rt and like 🔄❤
#NFTs #MusicNFT #MusicNFTs
If this thread has been useful to you, please rt and like 🔄❤
#NFTs #MusicNFT #MusicNFTs
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