Blockchain technology is redefining many industries and business processes from the ground up. However, the spread of wealth in the music industry is traditionally uneven. Most of the money made by the artist belongs to the record label, managers, and partners. Well, the music NFT is here to change that forever. Music NFTs are audio NFTs built on blockchain technologies. It is believed that they will redefine the entire music industry in the future and ensure that the artist behind the music gets a fair share of the money. Let’s see how these NFTs work and review the best Music NFT marketplace where you can buy them. Visit the BEST NFT Marketplace Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. What is a Music NFT? In short, music NFTs are digital tokens built on blockchain technology. They are an alternative way of presenting and sharing music, but if we take a closer look, it becomes clear that these NFTs are much more than that. With that said, there are some similarities between blockchain music platforms and traditional options such as iTunes. While the artist still gets to collect royalties on all tokens they created, the people who purchase the tokens also acquire complete ownership of the track. They can listen to it as many times as they want, and they can resell it at any point in the future. In addition, every time a music NFT token is sold, the creator gets a portion of the transfer fee. Music NFTs are becoming popular in the past few weeks as young artists adopt blockchain technologies, hoping to make money selling their tracks. Artists can sell their music as NFTs and get paid in cryptocurrencies rather than fiat currencies. The sense of scarcity and that every NFT is unique can help them make more money and become independent artists. Visit the BEST NFT Marketplace Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Goals of Music NFTs Famous artists and musicians create music NFTs to release limited albums and tracks. These unique audio recordings are sold on a music NFT marketplace, allowing them to monetize their work without third-party involvement. Moreover, artists get a cut every time the NFT is resold in the future. Here are some of the common goals of music NFTs. Visit the BEST NFT Marketplace Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 1. Album Releases 3LAU, an American musician, was among the first artists to release their work as digital tokens. His first NFT album was released in February, and it sold for over $11 million! Young artists paved the way for future musicians who want to make a living selling music. The nature of blockchains makes every release exclusive, which turned out to be the next step in the musical industry. 2. Selling Beats As mentioned above, artists can sell their work as digital tokens. Producers can use the same approach to sell beats directly to buyers in the form of NFTs. The people who buy the beats can use them or sell them in the future. The artist will keep making money whenever the NFT is resold in the future. 3. Stock-type Distribution Blockchain technology can redefine how artists make money selling music. For example, if they sell 20% of the rights on their NFTs, users can earn a cut of the fees and generate revenue on other channels, including Youtube, TV broadcasts, and even merch sales. The blockchain will act as an ownership grant, ensuring that the original creator and all partners get their share of the pie. In addition, partnering with loyal fans allows the artist to build an active community around their work. In contrast, fans get a chance to collaborate with their idols and enjoy exclusive features such as special events, front-row seats, etc. Visit the BEST NFT Marketplace Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Where to Buy Music NFTs Music NFTs are a new addition to the NFT marketplace, so you won’t be able to find them everywhere. When choosing an NFT marketplace, you should always be careful as a tiny mistake can lead to huge problems. After reviewing dozens of platforms, we came up with this list of the best music NFT marketplace options. Here are our top 5 choices: NFTLaunchpad.com – Rising NFT Marketplace With an Impressive Offer OpenSea – The Largest NFT Marketplace Rarible – Top Music NFT Marketplace Royal – Online NFT Marketplace For Music NFTs Crypto.com – Trusted Music NFT marketplace 1. NFT launchpad.com – Rising NFT Marketplace With an Impressive Offer NFTlaunchpad.com is one of the most popular newer NFT marketplaces at the moment. The platform was launched in early 2022, and it’s already including hundreds of different NFTs in its offer. In addition, the site has been built according to the best practices, so it comes with the latest security features and advanced options. It’s one of the rare places where you can buy NFTs belonging to multiple blockchains, including Binance SmartChain, Polygon, and Ethereum. Moreover, the offer of available NFT collections is growing every day. For example, NFTLaunchpad was one of the first platforms to introduce music NFTs, but the offer includes NFTs such as digital art, video, gaming, and other NFTs. Visit NFT Launchpad Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 2. OpenSea – The Largest NFT Marketplace OpenSea is the largest and most famous NFT marketplace. It’s been at the forefront of the NFT markets from day one and offers over 180,000 different items. OpenSea has everything you need to purchase your NFT collections without a risk. Apart from state-of-the-art security and a vast offer of various NFT collections, the platform is also easy and fun. If you’re looking for audio NFTs, OpenSea should be on top of your priority list. According to many professionals, even though it introduced audio NFTs only recently, it’s the best music NFT marketplace. You have over 150 payment options available and hundreds of different NFT collections for you to browse. If you don’t mind the 2.5% transaction fee, OpenSea is an excellent choice. 3. Rarible – Top Music NFT Marketplace Rarible is often regarded as the best music NFT marketplace for RARI token holders. It’s a fully decentralized platform that rewards loyal users with RARI tokens every week. As a result, Rarible became a popular place for finding music NFT collections, but it also supports other NFT formats such as art, movies, and books. Users can spend their RARI tokens to mint NFTs directly on the platform. On the other hand, musicians who design audio NFTs get a 10% royalty fee, so it’s clear that the site wants to attract as many active musicians as possible. The site currently has over 1,500 NFTs built on multiple blockchains, including FLow, Tezos, Polygon, and Ethereum. Visit the BEST NFT Marketplace Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 4. Royal – Online NFT Marketplace For Music NFTs Royal is an NFT marketplace that specializes in musical NFTs. While you won’t be able to buy other types of NFTs, Royal gives you access to a fantastic offer of music NFTs. The people behind the platform prioritize content creators, giving them a higher royalty commission than most other similar websites. Royal is already considered the best music NFT marketplace in the music industry. It keeps attracting more and more artists as well as collectors. The platform has over 500 music NFTs available, with more coming soon. It’s a site you should follow in the future if you’re looking for exclusive tracks and top-notch fan experiences. Visit the BEST NFT Marketplace Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. 5. Crypto.com – Trusted Music NFT marketplace Crypto.com is perhaps the most well-known platform on our list. It’s one of the largest cryptocurrency exchanges globally, and it also has a decent offer of NFTs. Even though the site focuses more on digital art and similar NFT options, it currently has over 50 music NFTs. The marketplace has millions of active users every day, so you might be able to find some sweet deals if you know where to look. Unlike other sites on our list, Crypto.com doesn’t come with purchase fees, but it does come with a 1,99% seller fee. Apart from an excellent design and providing users with access to tons of tutorials, Crypto.com is also one of the safest crypto marketplaces. Visit Crypto.Com Now Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. What is The Best NFT for 2022? The NFT market is growing faster than ever before as new blockchain projects become available. Unfortunately, music NFTs are still in their earliest stages, so most famous musicians and artists are still unaware of the benefits they offer. However, that will change drastically in the next few years, so you might be able to purchase an exclusive track made by the most popular artists all over the globe. We recommend that you stick to other NFT collections that are already in circulation. For example, the Lucky Block NFT collection called the Platinum Roller’s Club is an excellent option. The collection of 10,000 unique pieces is expected to increase in value similarly to the LBLOCK token, which saw close to 7,000% growth during the first month of release. Get Lucky Block Platinum Rollers Club Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. How can you buy the Lucky Block NFT? The Lucky Block Platinum Rollers Club NFT collection is minted on the Binance Smart Chain and that’s why you will need Wrapped BNB (WBNB). If you are using Trust Wallet, just add the coin to your wallet and then swap it with another crypto. Get Lucky Block Platinum Rollers Club Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Step 1: In Metamask, make sure you are on the Binance Smart Chain. By default, Metamask will take you to the Ethereum Main Network, and to change the network, you need to click on “Wallet”. After that, you need to select Binance Smart Chain Network (which will be positioned at or near the bottom of the list of networks). The ones of you who don’t see Binance Smart Chain listed, need to go to “Settings – Network – Add Network” and enter the following details: Network Name: Smart Chain New RPC URL: https://bsc-dataseed.binance.org/ ChainID: 56 Symbol: BNB Block Explorer URL: https://bscscan.com Then, go back to the network settings, choose Binance Smart Chain, and close the view. You will see under the “Wallet” heading that the network is now showing Binance Smart Chain. Step 2: Get WBNB. Swap BNB or another crypto for WBNB. Make sure you also have a small amount of BNB to cover gas fees and remember that you will need 3.75 WBNB to buy the NFT. Step 3: Go to the NFT marketplace in your browser. Simply go to nftlaunchpad.com. Step 4: Click the “Connect Wallet” button. Here, you simply need to click on the “Connect Wallet” button. Step 5: Connect MetaMask or Trust Wallet If you are using MetaMask, make sure to be on the Binance Smart Chain network, and also keep in mind that Trust Wallet is not available at launch. Step 6: Click the “Explore” button. Here, you will notice Platinum Rollers as one of the collections that you can purchase. Step 7: Click on “Buy Now” to buy the NFT Don’t be confused about not seeing the image of the actual NFT during the buying process. You will see it after the transaction is done. Step 8: Here you will see your NFT appearing in your site profile area. For accessing NFT Launchpad from your phone, you need to use Metamask’s built-in browser. Simply go to the drop-down menu and select “browser”. Then, type the “nftlaunchpad.com” URL into the address bar to navigate to the marketplace. Now, you will see the NFT in your profile on NFT Launchpad. Click on the avatar on the bottom left-hand side. To see the NFT in your MetaMask wallet, go to the import token at the bottom of the assets list. For the contract address paste: 0x78178bb96d3533D45EB4809bfE4c3F69E712b560 Collectible ID: the number of the NFT you bought Token symbol: LCK Decimals: 0 As we already mentioned, you can purchase your Lucky Block NFT on Launchpad, but there is one more way to do that. You can purchase the Crypto for your Lucky Block NFT, or any other NFT on eToro, and here we will explain how you can do that. Get Lucky Block Platinum Rollers Club Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. How to Buy Music NFTs There are a few essential details to consider when buying music NFTs. First off, you have to choose a Music NFT marketplace with the best security features and a large offer. Second, you should compare features and fees on multiple platforms to find the best option. The best approach is to load your crypto wallet on eToro, as it has no transaction fees, and use the cryptos you buy there to purchase NFTs on popular marketplaces such as OpenSea, NFTLaunchpad, or any other marketplace of your choice. That will help you save money on transaction fees, and you might also get great deals on crypto assets. Music NFT Marketplace – Conclusion Music NFTs present a new method of buying and selling music using digital currencies. This unique, emerging type of non-fungible tokens could redefine how we consume music by removing the need for labels and third-party publishers. If you jump on the music NFT train right now, you’ll get the chance to be an early investor and get the highest gains down the road. We recommend that you purchase your Ethereum on eToro, and start looking for music NFTs on the best marketplaces as soon as possible. Good luck!
