NFTs are set to change not just the art and music industries, but every other industry too. That's a bold statement, but once you understand the power of NFTs, you'll soon see why they've been creating so much buzz. So, let's focus on today topic "NFT Guide: How a Small Artist Can Benefit from NFTs And How To NFT My Music?"
How a Small Artist Can Benefit from NFTs
Emerging and independent performers have not always benefited from the trends that have prevailed in the music industry. Remember how they were pushed out of the industry during the record label boom of the 1990s and 2000s? With the rise of music streaming, the storey has repeated itself, with many independent and unknown musicians requiring thousands of listens to make minimum wage.
But this is not in the NFT space, you can earn through subsequent sales in the NFT secondary market. For example, after the original artist/owner first sells the NFT, the buyer/investor may then sell the NFT to another buyer/investor in the secondary market. This is when the royalties are paid to the original artist/owner. (NFT royalties give artists a percentage of the sale price each time their artwork is resold.)
How to NFT my music?
The minting process begins with having created an original piece of art. It may be an audio file (for example your latest electronic track) - but it can also be a video (for example if your pair it with visuals. Other types of content include 3D animations, gifs, and images - for instance, you can always sell the artwork for your track as an NFT. The possibilities are pretty much endless - as long as it can be saved as this kind of file.
Next, you're going to need something called an “Ethereum wallet”. The most popular wallet - and one that is easily linked with Opensea is called Metamask. It can be accessed directly from the Opensea platform. You have to download a special “Metamask” Google Chrome extension and create your account.
Bear in mind that in order to mint an NFT, you will need funds on your Ethereum wallet in order to pay something called a “gas fee”. It's a one-time payment necessary for each transaction on Opensea.
After you've done it, all you need to do is create an Opensea account. There, you're able to create a “Collection”, inside of which you can place your NFTs. You're going to need to pay your gas fee to start the listing, and your work of art should be up for sale.
Now I hope this topic "NFT Guide: How a Small Artist Can Benefit from NFTs And How To NFT My Music?" can help the artists to earn more with NFTs.
