Best Music NFTs : What Are We Talking About?

You might be wondering what an NFT is, and more specifically  what is a Music NFTs  . If you had asked us a year ago, chances are none of us would have had a clue. Looking now into 2021, we’ve seen musical Music NFTs change the lives of artists in multiple ways.

Artists have started to see their financial independence by selling even a single Music NFTs, and in the current state of the Music NFTs industry, that  ‘s definitely  something; yet there is more. Web3 enthusiasts have seen a new wave of musicians and artists finally able to connect directly to their world, and then receive support at the most direct level possible.

So if that’s the case, why isn’t everyone involved? Why are so many musicians still not convinced by web3?

The Basics : What is Blockchain? And what is an NFT?

The blockchain is exactly what it sounds like: a chain of blocks. Each block contains several transactions and has a security protocol that makes it almost impossible, if not completely impossible, to cheat, break or hack the system. Transactions are continuously validated through computers that work to reach consensus to move from block to block, and this is how the blockchain does its own job.

A cryptocurrency is a digital currency in which transactions are verified and records are kept by a decentralized system using cryptography. Put simply, cryptocurrency transactions go through the blockchain, being validated in blocks.

Music NFTs

NFTs  are  units of data  stored on the blockchain. NFT stands for “non-fungible token”: a non-fungible token is not interchangeable like other cryptocurrencies (Ethereum, Bitcoin, Solana, etc.). Where a cryptocurrency derives its value from other coins and the US dollar, an NFT derives its value directly and solely from buyers.

Minting  an NFT  , which is the process of permanently imprinting data on the blockchain, provides a certificate of authenticity and proof of ownership: it all works through the same blockchain technology. We can interact with the blockchain by transacting through a  crypto wallet  , and different types of wallets interact with different blockchains. (i.e. Meta Mask interacts with the Ethereum network, Phantom interacts with the Solana network, etc.)

The last term we need to define is  web3  . While web2 refers to the traditional use of the internet, web3 refers to the intersection of the internet and blockchain.

But what is a musical NFT?

  • Musical NFTs: an artist’s approach – The problem – The solution – The role of the artist
  • Answering the questions: “I want to hit an NFT but I think I’m hurting the planet”, “But copyright… and publishing…”, “Okay, I want to hit an NFT music. Where do I start? », « I sold my first NFT: what do I do now? »,
  • All That Glitters…: “  How did you make all that money? Lol, that looks easy! » . No. _ It is not easy.
  • Conclusion

We emphasize the importance of getting detailed information on these issues before making any decision to use this new approach.