Music NFTs are a fascinating intersection of music and blockchain technology. Artists face a formidable challenge in this ever-evolving market: how to connect with collectors and maintain strong relationships. Throughout this blog post, we will explore strategies that music NFT artists can use to engage their audiences and navigate this transformative world. For centuries, music has sparked emotions and made profound connections, but the journey for artists goes beyond producing captivating tunes. Keeping their art alive and their supporters engaged requires artists to navigate uncharted territories as the secondary market undergoes transformation. In this blog post, we will uncover a range of strategies that empower music NFT artists to build bridges and establish lasting connections with collectors. From embracing transparency to unleashing the allure of exclusive benefits, we'll delve into fostering vibrant and supportive communities. Together, we'll explore the potential of...
As a result of a recent development, OpenSea, one of the most popular music NFT marketplaces, is no longer offering resale royalties to creators of NFTs. In this article, we will explore the broader landscape of music NFTs and explore the implication of OpenSea's decision. It has raised questions about the viability and future of music NFTs. The OpenSea Decision In light of OpenSea's decision to eliminate resale royalties for NFT creators, musicians and artists will not receive them anymore when their NFTs are resold. Resale royalties used to support creators' production and ensure a steady income stream. Challenges for Musicians Musicians have used NFT for years to connect with their fans and monetize their work. The NFTs provided artists with a means of sharing exclusive content with their fans, including unreleased tracks, concert footage, and merchandise. Because of OpenSea's decision, some musicians are unlikely to consider NFTs a viable revenue stream. Impact on t...