Music-related use cases for Web3 technologies are piling up as the industry moves toward adoption. From the democratization of song royalties and blockchain licensing to legacy companies like Sony Entertainment filing patents for non-tradable, authenticated music.
While electronic dance music and pop seem to attract the most attention when it comes to NFT music, they are making a difference even in more traditional areas such as opera.
However, like any new innovation tool, there are creators who live off the hype. This is often seen with “shitcoins” and pump and dump NFT projects, which have little to no value or long-term utility.
As musical NFTs become more popular, so does the hype. Hundreds of NFT musical works appear on Twitter, creating what can almost be considered a subgenre of NFT music.
The music revolution is here
Mint price: .11 ETH
Date: Friday 23/9 pic.twitter.com/d0iunVvwhV
— blocktones (@blocktones) September 9, 2022
All the hype begs the question: What comes first, the music or the desire to create a musical NFT?
Cointelegraph spoke with NFT music industry creators to answer this chicken-and-egg question and understand this new genre.
Related: Experts explain how music NFTs will strengthen the connection between creators and fans
Adrien Stern, CEO and founder of Reveel, a web3 revenue sharing platform for musicians, said that right now NFTs are actually breaking genres instead of creating them.
“Musical NFTs are an anti-genre. We’re seeing a lot more diversity and creative freedom in NFTs – as if artists are finally free to create for the sake of creating and not to fit the algorithms.”
Before NFTs, the next wave of internet musicians were creating music for virality in short video clips. “There’s no doubt that artists have been creatively liberated by NFTs. They no longer need to write music that will work in a 30-second TikTok video,” says Stern.
An example can be seen with NFT musician Sammy Arriaga, who leveraged his online community on TikTok and Twitter to sell over 4,000 music NFTs.
This dude sings sad pixel boy songs rn and I love it https://t.co/AIoxhTgRvN
— N1FTey (@N1FTey) September 13, 2022
Another NFT musician and blockchain music label creator, Thomas ‘Pip’ Pipolo, told Cointelegraph that his artistic passion for creating music comes before anything else.
“Trying to create music and then use NFTs as an artistic tool to sell a real product to fans and investors is what motivates me.”
However, when it comes to the music being advertised for NFT creation, Pipolo says that good music is good music and bad music is bad music, whether it’s on Web2 or Web3:
“What I think is important to take away from sales of ‘bad’ or ‘lesser quality’ music is that artists sell more of their music.”
The importance lies in the technology that allows artists to use accessible tools, like Twitter artists, to sell their personalities and stories, while giving fans more credibility as owners and participants rather than just followers. Pipolo says this “Levels the playing field for those who have the ability but lack the connections.”
The founder of the record label Web3, Jeremy Fall, supported this statement and said that this is definitely not a hype. Even more, the idea is:
“To use technology to be able to create an assistive experience around music that people couldn’t get before.”
Fall says that musicians have always needed to incorporate many art forms into their creations – e.g. graphics, rendering, audio, video- and these new Web3 tools make it possible.
When it comes to hype, in many of the scenarios surrounding music, the consensus is that it is both earned and natural. Musicians and Web3 music creators like Pipolo, Fall and Stern see NFT music as a result of the true power of decentralized technology.