Top 5 Music NFT Projects to Never Be Forgotten

NFT stage was joined by Grimes, 3LAU, Steve Aoki, Deadmau5, and Kings of Leon. NFTs are often connected with digital photos marketed as collectibles. During the epidemic, though, music NFT projects became the in-thing.

Together with COVID-19, NFTs began to astound the music world. Despite being unable to perform live, artists discovered new ways to commercialize their work, maintain connections with their fan groups, and save on streaming costs.

Below are some instances of the top 5 music NFT projects created by notable musicians, along with their motivations:

GRIMES

Grimes sold a collection of digital artworks linked with poems for nearly $6 million in a last-minute auction last year, confirming her music NFT project to be the most profitable.

Grimes, real name Claire Boucher, announced the auction on Twitter the day before it took place. The WarNymph Collection Vol 1 consisted of ten pieces of art. Her Earth’ and Mars’ NFTs were two of her most famous masterpieces. For a set price of $7,500, around 300 copies were sold in two days.

Grimes wisely sold her artwork ‘Death of the Old’ as a one-of-a-kind to the highest bidder. Following a bidding war among admirers, the NFT sold for more than $400,000.

3LAU

Justin Lau, also known as 3LAU, elected to auction off his album through a music NFT project rather than sell it directly. To differentiate himself, he streamed the digital assets live and, like most other artists, announced the release of NFTs on his social channels, such as Twitter and Discord.

Although having been in the Web3 game since 2020, his most memorable NFT moment occurred at the start of last year. He sold 33 Ultraviolet albums through NFTs in three days, resulting in a market cap of $11.7 million. Furthermore, the digital assets lured followers by providing significant prizes like limited edition vinyl, unreleased music, cutting-edge clothing, and concert tickets.

Shortly after, 3LAU announced plans to launch Royal, a music marketplace where fans can buy ownership stakes in their favorite songs. Surprisingly, it quickly concluded a $55 million Series A fundraising round. The platform continues to rise in elevation.

STEVE AOKI

Following suit, Steve Aoki released a music NFT project composed of 11 distinct compositions. Dream Catcher, a collection of digital materials created in conjunction with visual artist Antoni Tudisco, featured music recordings alongside breathtaking animations. The NFTs quickly sold for $4.25 million on the Gemini marketplace, which other celebrities, like Elon Musk’s ex-wife Grimes, have used.

DEADMAU5

Joel Zimmerman, Deadmau5’s electronic music producer, collaborated with digital artist Nick DenBoer late last year to develop head5, a music NFT project of 5,555 NFTs that features various characters from Deadmau5’s music videos. Exclusive Deadmau5 recordings can be accessed by clicking on the unique artwork.

Deadmau5 debuted his music NFT project on Moonpay, revealing unique art and sound. Furthermore, the marketplace just launched a function that allows users to purchase and sell NFTs with their credit cards in minutes, offering Deadmau5 additional opportunities to sell NFTs due to reaching crypto inexperienced fans. Deadmau5 reportedly made $4 million in NFT sales as a result of this. The most valuable NFT sold for $10,000, while others typically sold for around $4,000.

KINGS OF LEON

Kings of Leon were the first well-known band to launch a music NFT initiative. When You See Yourself, the band’s most recent record, was minted into NFTs on the Yellow Heart platform in March of last year and quickly produced over $2 million in sales. The collection comprised an album developed for the NFT holders, digital artwork, merchandise, and spectacular concert experiences.

Following that, the American composers contributed $500,000 of the revenues to Live Nation’s Crew Nation Fund, which helps road crews who have been sidelined due to the pandemic.

THE BENEFITS OF MUSIC NFT PROJECTS

Despite the aforementioned music NFT projects soaring during the years 2020-2021, music NFTs are still “a thing”. The market has recently taken a turn for the worst, but the assets of digital collectibles remain unchanged.

The benefits of music NFT projects are limitless; there is nothing that cannot be accomplished with non-fungible tokens. Numerous musicians utilize NFTs to allow entry to performances, meetups, and to give away stuff, among other things. What NFT collections contain is determined by how the producers arrange and distribute their NFTs. As a result, some collections are unquestionably more generous than others.

Yet, you can investigate the assets of music NFT projects before making a purchase. Users can determine whether or not to purchase NFTs by reviewing the roadmap and utilities.

So, why not support your favourite musician by purchasing an NFT and perhaps partaking in some unique experiences?