Despite headlines about big sales and big possibilities for artists’ futures in Web3, a close examination of fan onboarding tactics suggest there will be numerous hurdles before this possibility becomes a reality.
The shape of music/Web3 tooling is more exciting and diverse than ever before. New platforms are launching weekly to help artists leverage NFTs, social tokens and DAO infrastructure to create new economic models around creativity and fan engagement.
Music NFT headlines this year have focused on astronomical sales… but what is actually being sold?
2021 has seen a flurry of new generative music NFT project launches, but they have yet to see the same consumer demand or financial upside as their immensely popular visual counterparts.