How to NFT 4: Music

特邀专栏作者

2022-04-10 05:32

This article is about 4505 words, reading the full article takes about 7 minutes

The NFT basic book "How to NFT" is serialized.

Musicians around the world have also begun to embrace this innovative medium, injecting new vitality into the music industry. From unreleased tracks to exclusive full-length albums, artists can now release their songs directly as NFTs and earn revenue directly from their fans without any middlemen.

Instead of dealing with middlemen like record labels, distributors and publishers, musicians can now earn their fair share based on what users are willing to pay. For example,Linkin Park's Mike Shinoda Receives $10,000 Bids on One of His NFTs, and reiterated the potential of NFTs, he said that, after deducting fees, he received from digital service providers"Never get even close to $10,000"。

In this chapter, we explore how decentralized music streaming platforms like Audius are empowering content creators, and how Euler Beats and other audio-based NFTs are changing the music copyright landscape.

Euler Beats

We're used to musicians making music with their instruments, but what if the music was randomly generated using the power of mathematics? Euler Beats brings this to life, allowing users to algorithmically mint a limited series of unique NFTs. Each piece of music art is generated through an algorithm using data such as the creator's wallet address and the block hash value at the time of minting.

Euler Records consists of two series, which are"and"and"Enigma (Enigma)", each series consists of 27 NFTs. Like mirror records, each set of NFTs has a unique, unforgeable copy of the original token and some printed copy.

Each Genesis and Enigma original NFT can be minted with 119 and 160 prints. When sold, print holders have the option to burn their prints for a refund of up to 90% of current printing costs. 8% of the sales price of each print will be returned to the original holder as royalties, and 2% will be used to support the development of the EulerBeats project.

NFTs from Genesis and Enigma are priced using a bonding curve in a mathematical formula. As print holders create new prints from the original token, the price of subsequent prints increases exponentially.

As an example, the original NFT of the Genesis series was originally priced at 0.271ETH each, but as of press time, the price of the prints has changed from 1ETH to more than 3ETH, as shown above.

The Enigma series is mainly sold through OpenSea auctions, with a starting price of 2.71ETH. 25 of the original Enigma tokens were sold this way, while the remaining two tokens were held as a DAO donation and the EulerBeats team respectively.

These music NFTs are not only good-looking, but can also be used in EulerBeat's pledge agreement. If you want to stake, you'll need a pair of identical LP versions from both the Genesis and Enigma sets. For example Genesis LP 01 Edition must be paired with Enigma LP 01 Edition. Originals cannot be pledged. Participants get 100% printing royalties based on the number of pledged LPs. Rewards are continuously accumulated in ETH, and users can claim them at any time.

All in all, EulerBeats has combined many innovative technologies to produce unique music NFTs that fit nicely into any playlist. Even famous entrepreneur Mark Cuban has expressed his affection for these masterpieces! Many later NFT projects have imitated mechanics such as bonding curves and burning processes, but EulerBeats remains one of the more prominent projects.

Audius

Audius is a music streaming and sharing platform where artists can upload their creations for others to enjoy. Although it looks similar to Spotify or Soundcloud, it is a decentralized music platform. It stores artists' content on a public blockchain, transparent to all. One of the benefits of using the platform is that no one can change the content unless the creator gives permission, thus protecting the creator's rights. Plus, producers have the opportunity to make the type of music they want.

Audius functions much like any other music streaming service. Users can discover trending sounds from world-renowned artists or unknown creators according to their musical preferences. Users can choose to listen to the playlist prepared by the system, or create their own playlist.

The difference is that Audius has the reward and governance token AUDIO, which empowers users and creators. Creators can earn AUDIO tokens by uploading their works (whether it is music or other applications), and then use AUDIO tokens to vote on new improvements to the platform to improve the Audius experience.

Token holders can also earn profile badges to show off to their friends. These badges are divided into four tiers based on the number of AUDIO tokens held on Audius. Each level has its special benefits like Discord characters, NFT collectibles, and more. What's more, users can even decide what benefits they get at each tier through governance votes.

The platform also launched Audius collectibles, where artists can display their NFTs directly on their profiles. Audius collects all of the artist's NFTs into one place to display them to the audience. What this feature does is provide another way for artists to personalize their profiles and monetize through exclusive placements.

Notable Music NFTs

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Death of the Old by Grimes

Musician Grimes from Canada released this music NFT with her brother Mac Boucher as part of her debut WarNymph Collection Volume 1. The collection features ten digital artworks, three of which are accompanied by her music. this unique work"Death of the Old", also the top-selling music NFT, sold for $389,938 and features many flying cherubs that end up close to a glowing cross.

The remaining two musical works in the series,"and"and"Mars", released under a different program, at the opening of the series, up to 9999 copies can be minted."and"and"Mars"image description

One Hundredth Stream by Mike Shinoda

This NFT was created by Mike Shinoda, a member of American rock band Linkin Park. It features a skull represented in a minimalist fashion, with an accompaniment. At the time of this writing, this NFT is still available for purchase on Zora, but be prepared with sufficient funds, as it is currently listed for 200WETH, or roughly $400,000.

When You See Yourself by Kings of Leon

Instead of just releasing a single song, the iconic band released their entire album "When You See Yourself" as an NFT, the first of their kind. The album was originally priced at $50, and the NFT included an animated album cover and a limited-edition vinyl. However, this token is only named"NFT Yourself "image description

Jenny by Steve Aoki and 3LAU

Jenny by Steve Aoki & 3LAU

A collaboration between two world-class DJs, Steve Aoki and 3LAU, Jenny is an unreleased song featuring visuals by Peiter Hergert and using AI voice samples. This piece was created to celebrate the launch of Jenny DAO, an organization where users can invest in NFTs through fractional ownership. Together, members can decide which NFTs to invest in and propose how to manage the treasury. Jenny DAO has purchased the song for $1 million as the first NFT for its collection.

BeatBoxes by Zeblocks

worthy of attention

POW NFT

POW NFT is the first NFT produced by mining, allowing users to mint NFTs with unique numbers. The NFT is generated from the hash value of the token and the atomic number of the atom, and each NFT has different elements, such as various color palettes, the position of the electron, and its unique music.

JingleBe NFT Collection

Created by two musicians, each music NFT grants full ownership of the song and comes with a unique cover. Covers feature unique artwork and fully AI-generated faces. In other words, none of the 100 people you see on the cover is real.

Nifty Sax

The Genesis collection by Nifty Sax consists of 100 different listening experiences, through"Humanity"Create a unique saxophone solo style. Each composition has three distinct characteristics and comes with unlockable content, including audio files of the original composition and unprocessed raw versions.

DAOrecords

in conclusion

Music NFTs globally give creators more control, enabling them to more actively choose what they want to create and how they choose to spread it to their fans. By eliminating middlemen and censorship, artists and musicians around the world can deliver an even more unparalleled experience, not just musically, but a once-in-a-lifetime experience, directly to their listeners. Through NFTs, fans can not only directly support their favorite creators, but also potentially receive additional content or benefits.

Through blockchain technology, creators have access to a wider range of new tracks and sounds, while still maintaining their specific style. The combination of derivative art and modern sound production techniques opens the way for fans to choose from a variety of NFTs, which can unleash greater creativity and unexpected results than ever before.

Compilation: Bibabu