Coop on Warpcast

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@coopahtroopa.eth

Music NFTs failed because the hype did not meet reality. Collecting music needs to be free and accessible at scale. It's not realistic for every artist to promise tickets, merch + meet and greets. Or for songs to be sold for thousands of dollars at scale. Music NFTs walked so $1 open editions could run.

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Catch0x22 pfp

I think some kind of soundcloud/dex thing could maybe work. Up n comers and established independent artists upload whatever as NFT and let ppl speculate. I definitely think the mental gap of free accessibility vs. limited items is the main issue for artists. The best artists are not good business ppl in their early careers usually and are just trying to express themselves. I think the interest is there tho, it's just a matter of time before it's normal to rap about holding crypto and trading shitcoins etc.

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Luigi Stranieri

@luigistranieri

1$ open edition could be really good compared to the streaming platform royalties.

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Akhil pfp

where do you see narrative of music nfts moving, going forward?

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FREAK pfp

I absolutely agree with what you say. NFT business models existed in Japan where artists were promised tickets, merchandise and meetings, but all of them failed. Similarly, selling music for a few thousand dollars limits music to a limited space, eliminates network effects, and kills the power of music.

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nuconomy.⌐◨-◨

Do you see a place for Music NFTs where they give holders rights to use the tracks in their own media? It’s often free to stream but almost impossible to get usage rights without automated takedowns.

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jacopo pfp

music nfts are only part of the picture, artists should be able to use onchain tools to give a new e2e experience for their fans. lots of ideas on this, which I will explore eventually

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tomu pfp

what’s your take from coop records? do you think some of the investments made will still be profitable mid-term?

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Rakshita Philip

Marketplaces, curation, and gatekeeping in the music NFT space have killed the enthusiasm for it imo. I've been collecting music NFTs since 2022, with a PFP project by Violetta being a favorite. I don’t regret any purchase, but I dislike the platforms because they don’t prioritize artists or fan engagement. Instead, they focus on trading and gamification, which shouldn’t matter for a $1 NFT. I stopped collecting because artists are creating less and focusing on number games and pumps rather than art. The sense of community went away really quick and it all got super competitive real fast. We need to let artists focus on creation and solve for distribution — art and collectors should follow. People still want to collect. We just need to give them reasons to.

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I think a big miss in music NFTs was trying to build utility for a market that wasn't there for the music... Open editions seem to be working because actual music fans are willing to pay to support good artists and signal their tastes. And this is an AWESOME recipe because its so simple, doesn't rely on speculation, and provides a solid foundation to build for music enjoyers first Excited to see what's to come 👀

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If I can be honest, I never thought it’d work. They are just NFTs about music. They aren’t music. Calling them “Music NFTs” is just weird.

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The Web3 world, with all its vastness, still has not managed to provide a secure and suitable platform for artists from all walks of life. Many artists continue to face issues such as lack of access to financial resources, absence of social support, and lack of guarantees for their security and intellectual property rights. It seems that to address these problems, new approaches and broader collaborations from the community, technology, and governments are needed so that artists can benefit more effectively and securely from these technologies.

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kaitoren.eth pfp

Direct monetization is the first application for music NFTs. There is sooo much more to do with them than to replicate Patreon or iTunes. Build apps which use music NFTs and incentivize their usage. Notice I didn’t say build a music player!

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gydravlik.base.eth

1$ It’s normal price for one track on the global music digital market on my opinion.

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Fractal Visions ⌐◨-◨

@fractalvisions.eth

Music 🎶 should not be free. What the fuck are you smoking today @coopahtroopa.eth ???

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My nft for sale https://opensea.io/assets/base/0xcfe4613f563c087dc580861415349d4b217c0e62/7

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