You may have already heard about prominent musical artists such as Snoop Dogg revealing themselves to be NFT moguls, acquiring an impressive portfolio of high value NFTs from top collections. You might also have heard of other musicians, such as Grimes, selling out their own exclusive NFT collections for $6 million. A growing trend, music NFTs are starting to become increasingly important within the space as more and more artists jump on board to take part in this history-making moment. You may wonder, “what are music NFTs and how can I create one?"
Before we dive into this question, let’s talk about the different types of music NFTs. There are multiple ways in which artists can explore NFTs in music.
One of the most common ways of utilizing music NFTs today is releasing an artwork that serves as a token/digital pass to a wider selection of opportunities and perks, such as limited edition concert passes. Releasing an NFT as a collectible gives music artists a tool to reward their top fans with access to exclusive content, events, and otherwise inaccessible opportunities.
Another way of utilizing NFTs to sell music is minting royalty-bearing NFTs, which allows their buyers to receive an x % of streaming royalty payments. You could think of it as owning a share in your favorite artist’s work. The more successful this artist becomes, the bigger your return on investment!
Furthermore, there is a growing number of music NFT marketplace platforms and music DAOs helping musical artists become independent of third-party organizations and earn transparent income from streaming royalties, merchandise, or any additional income opportunities stemming from NFTs. Nevertheless, with music NFTs still being at the very beginning of research and development, there is plenty of room for new inventions and ideas!
Ok, so now you know the very basics of how music NFTs work! How can you get started? And most importantly, how can we help you?
You can very easily upload your first music NFT or a collection of music NFTs to the HeyLayer marketplace! We offer the ability to upload various types of audio files, including WAV, MP3, AAC, OGG, and MP4 (audio+video). The process is very simple and similar to the way you’d upload a “regular” JPEG NFT.
Create an account on HeyLayer at storage.heylayer.com. Once you access the dashboard, you’ll be prompted to upload either a collection or a single NFT. Depending on the type of project you’re working on, choose the appropriate one and fill out all the necessary information, such as name, description, price, and thumbnail picture (if you have one). Currently, HeyLayer has a size limit of 25GB, but no length limit. Therefore, feel free to upload as long audio files as you’d like provided that they don’t exceed the size limit!
Once you mint your NFT, potential collectors will be able to play your NFT in full on our marketplace. They will however become sole owners recorded on the Stacks blockchain after purchasing the NFT. Buying NFTs on HeyLayer is also quick and easy. Collectors can choose to pay either in STX using their Hiro wallets, or in USD using their credit/debit cards. You can therefore count on us in terms of an easy and smooth transaction process!
So… this is how you make a music NFT on HeyLayer! Nice and easy 🤓 Still, if you encounter any issues along the way, or have any questions about our platform, don’t hesitate to reach out to us at email@example.com!
We hope that this short tutorial inspired you to mint music NFTs! Don’t forget to follow us on Twitter, Instagram, as well as join our Discord channel. Also, check out our Blog for more NFT-related content. :)