Hey. For my birthday Mirror gifted me $WRITE token and now my URL is upgraded to blackdave.mirror.xyz and I couldn’t be more pumped. That’s not what this post is about but I’m pumped and wanted to say something about it. Click the subscribe button top right. Let’s get into this actual post:
I’ve been thinking a lot lately about how more and more platforms, marketplaces and tools are continuing to be built for artists, but very few are being built for fans and collectors in web3. I’m not gonna learn how to build things myself in a timely manner (I already don’t make enough music as is), so looking at what exists in this toolbox, I’m trying to figure out what I can do to provide opportunities for folks participating in my journey in web3. I think the question on my mind these days:
The first thing I try to focus on is what “winning” even looks like for people who collect my NFTs. Is just having the NFT enough? For some people out there, yes. They’re into supporting people who are interesting to them as well as propping up the music NFT ecosystem. Are they looking for a financial return? That could take a while unless I’m selling on the primary market with space for price increase, as the real W happens when my profile grows a lot more than current. Royalties will fall flat because of the combination of how little DSPs pay out and how few streams I get. Are they looking to forge some sort of personal relationship with me? Easy. Hit the DMs.
During NFTNYC, not at it, because who the hell goes to the actual conference, I performed at an event put on by wavWRLD for my token holders. I performed for a small handful of my collectors in what’s called the wavROOM and video NFT marketplace Glass shot the video, to eventually mint the set. The day has finally arrived.
“Oh, great, another NFT to sell us” you mumble quietly to yourself. More opportunities for y’all to give me money while I continue down the path of becoming one of the greatest of all time. Not that appealing, I get it. In the spirit of the title of this post, Can Music NFT Collectors Actually Win, I decided to make my first effort at answering this.
One of the original reasons collectors were excited about getting involved in NFTs as a whole, and even more specifically music NFTs, is to be able to have this sort of involvement in an artists’ career. I have over 150 unique collectors and each of them will be getting a tiny percent of sales. I know for this specific drop, it’s not much financially, but this is the first of many experiments with this in mind. Maybe my idea is completely wrong and it inspires someone to find something closer to what collectors and fans actually desire as music NFT owners. Reveel is the splits protocol I’m using to make this happen.
Here are the things you need to know:
I feel like my personal journey in web3 has been heavily focused on experimentation, and adjacently, trying to inspire others to experiment. I’m going to continue to experiment in different revenue sharing models. As someone who isn’t a fan of giving off-chain royalties to collectors, this makes sense to me. Wish me luck.