5 Music NFT Companies Making Waves In The Music Industry (2022)
The world of Music NFTs is expanding at a rapid rate - yet it's still in its infancy. We're doing our part in the music industry to bring the process of distribution back into the hands of artists and allow them to keep all of their well-deserved royalties.
In this gloriously digital world of ours, blockchain technology is evolving quickly and giving us more and more opportunities to utilize it in the music industry (and the world as a whole). On top of music distribution, marketplaces for NFTs and new communities for artists and fans continue to grow and have become more widely recognized in the last couple of years. Here are some must-watch music NFT companies to keep a close eye on.
Unchained Music is the most convenient, economical and effective way to distribute music to Spotify, Apple Music, Youtube, and more. Unchained’s entire model is centered around giving artists their freedom back. This is achieved without any fees or subscriptions, allowing music to get to where it needs to go. Made entirely possible by blockchain technology, Unchained offers an incredible Web3 Music platform that gives full control of releases and musical content without taking a cut of royalties. On top of that, Unchained Music is leading the charge in the music industry to educate and help artists move into the world of blockchain technology with tons of resources and support within the ecosystem. DeFi music distribution is the future of the music industry and Unchained Music is bringing it to the masses.
Anotherblock are innovating the NFT royalty space. They allow fans and music enthusiasts the opportunity to own parts of streaming royalties from their favorite artists, giving them a stake in the songs future. In a nutshell, the purchaser becomes a co-owner of streaming royalty rights that can be resold on an NFT exchange or kept forever. Music lovers can now be closer to and more involved with their favorite artists while obtaining a rare bragging right to co-owning a song's royalties. On another note, they just raised a $2.5M investment, and have partnered with R3HAB and Laidback Luke. One to definitely keep an eye on.
Audius is like Spotify for Web3 - a completely decentralized and open-source community of artists, fans, and developers alike. Audius provides a web3 audio streaming protocol that allows for a new level of music sharing. Without going too far into the nuts and bolts of the platform, they've created a familiar music player that is accessible to all musicians. They're helping to lead the charge in the web3 music revolution with a fully modern streaming service designed for artists.
Sound.xyz is making big waves in the music NFT space by celebrating artists and their individuality. Sound is a music NFT platform built entirely around community and relationships that listeners and collectors have with artists. The name of the game is collaboration and that's how they see each relationship. You know how we say, "hey, I knew that artist when only a couple hundred people knew about them!" Well, now you can stake that claim in an NFT! Sound.xyz debuts an artist's track as a set of NFTs in the form of a "launch party" that gives value to them on a scale of earliest and later editions (earlier editions being worth more.) On top of this, the purchaser gets unique access to comment on the song and community access to collaborations, hangouts, and more. With this model, artists can create and communicate with a truly dedicated fanbase of supporters early on and into their careers.
Royal is all about connecting artists with their fans. They allow anyone to own a piece of an artist's song and earn royalties alongside the artists.The platform allows for fans to fuel the artists' career like never before while the artist stays independent. Artists choose how much of the royalties to put up for sale and they can even attach unique experiences and bonuses to the Royal music NFTs. Royal is an excellent platform for artists looking to grow their community engagement and give their music even more value than it originally had.
We're excited to see the Web3 music community grow and prosper over the years to come. Even through the volatility of crypto markets, the music NFT community continues to stand strong and break records every day. One thing's for sure: we're going to be supporting musicians and their fans for a long, long time.