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Sound.xyz:When Music becomes NFTs
Sound. Xyz wants to use NFT as a bridge for the fan economy, establish its own community culture, and create better music together.
By Magic Key ·  

We all know image-based NFTs such as bore ape and Crypto Punks, but have you ever imagined that music can also become NFT? Sound. Xyz is such a new music platform, driven by the relationship between listeners and artists.

Fascinating Combination

Like many Dapps, Sound.xyz can also be directly logged in through the metamask wallet.

We can listen to all the songs published on Sound for free. Musicians will write down their thoughts on creating music, stories behind them, and even their comments on web3. You can buy its NFT for 0.1 ETH if you like it with a comment. Artists could pre-set an "golden egg" by their own rule, and one of the 25 editions of the NFT will be upgraded to a special artist edition that has only one copy in the world.

Sound combines music and NFTs. You can either invest in Artists through NFTs, or you can use it to earn more money and even spiritual satisfaction. Imagine your reviews appearing on Michael Joseph Jackson's songs; it’s like witnessing the birth of the pop music era.

As it says :

“Each Sound NFT is more than just the song. Owning a song’s NFT grants the backer the ability to publicly comment on the song and let the world know what you think! Sell your NFT, and your comment disappears, getting replaced by the new owner.”

Disadvantages of Traditional Music Platforms

Let’s look at the musicians’ point of view: a song on Spotify, the world’s largest music streaming platform, is played once; the musician can only receive $0.003; among the 8 million musicians on the entire platform, only 13,000 people earn $50,000 annually. 1% of the Artists occupy 90% of the market share. The crueler reality is that the $50,000 is not sent directly to the musician's account. Spotify will only pay intermediaries such as record companies, music distributors, copyright agents &, etc. The intermediaries will also take a commission from it. , the final amount allocated to the musicians will only be less.

This is also one of the reasons why music has been dramatically impacted by copyright after it was transferred from records and CDs to digital.

For listeners, although we will also pay for music, for a personal experience like listening to songs, self-selection is the first choice. I love that song, and I can control how I want to play it.

Fan economy

Kevin Kelly once wrote in the article articulating that creators only need 1000 loyal fans willing to spend 8.33 per month to support them to live a good life.

“In addition to owning the song and etching your name in its history, Sound NFTs is your access pass to the Sound community on Discord where artists and listeners interact with each other through weekly hangouts, collaborative projects, and more.”

Sound. Xyz wants to use NFT as a bridge for the fan economy, establish its own community culture, and create better music together. 25 NFTs are enough for musicians to support themselves through independent creation. Users can choose high-quality music and can also use this to motivate musicians to create better works to give back to fans. I guess that's the power of Web3.

Magic Key
Encryption enthusiasts who love writing and photography. Wish to discuss all web3 applications with peers in the same field.