One of most promising things to come from Crypto, NFTs or the Metaverse is the potential to shake up the music industry. For too long it’s been stale. Since the introduction of music streaming services such as Spotify, a band can no longer count on record sales, because the likes of Spotify pay such a tiny percentage. But that’s the way it’s been, unquestioned until now.
As technology progresses, the way people enjoy music is totally changing. NFTs have provided the perfect opportunity for event organizers and musicians to distribute their music in novel ways.
The technology helps to streamline the process of organizing events and making sure that tickets can be authenticated easily. As a result, a handful of projects have already started implementing NFT technology into their events and platforms.
These pioneers are using collectibles to lead the NFT music industry in a totally new direction. Owning one of their collectible assets provides exclusive rights and benefits to all holders.
Here are 5 NFT music collectibles that are ready to lead the industry.
5 Collectible Music NFTs Ready to Lead the Industry
- Cocky – An NFT lifestyle club providing holders access to world-class music events.
- Audius – A web-3 streaming platform built for musicians
- RefractionDAO – A decentralized global creative community of artists, creators, and fans
- Circus Maximus – A Festival in Croatia created by a DAO
- Centaurify – A platform to streamline tickets, albums, and collectible NFTs
A Closer Look at the 5 Collectible Music NFTs Ready to Lead the Industry
Cocky is an exclusive NFT lifestyle club ready to lead the industry forward in NFT music. Their NFT collection was created by the Parasol Group, with the main mission to totally change the definition of utility in the industry by providing all its members with access to real-world experiences.
The entire ethos of the project is to provide once-in-a-lifetime experiences to holders that money cannot buy – only ownership of their NFTs can.
All of the events surrounding Cocky will have a particular focus on electronic music, and they will be hosted in prestigious locations to provide an immersive, second-to-none experience for holders. They intend to host two in-person events annually, alongside regular virtual events in the form of live streams.
You will need to own one of the collectible NFTs from the Cocky Can NFT collection to have a chance to gain access to the events. The NFT collection consists of 10,000 Cocky Can NFTs with 51 different skin variations randomly assigned on minting.
Furthermore, each NFT will have a different colored lid, Silver, Gold, or Black, to distinguish the various tiers of benefits to the holders, which include:
- Subsidized transport to and from the event.
- Accommodation for the duration of the event.
- Additional invites to bring along guests.
- Bar tabs to enjoy the experience.
- Exclusive merchandise.
There will also be one lucky holder of the “Cocky Black Can,” which will provide VIP benefits to the holder at all Cocky events in perpetuity.
One of the great features of the Cocky Can NFTs is their ability to display Mutations. These Mutations take the form of a stamp, similar to what you would receive in your passport when traveling, each time an NFT holder attends one of the Cocky events or participates in the ecosystem. Over time, this totally novel feature will make every Cocky Can NFT entirely unique, with those displaying the most mutations becoming the most desirable.
As Cocky events are held in unconventional locations, the ticket volume will depend entirely on the venue’s capacity. Each event will pay particular attention to the location’s history, landscape, and culture – making the experience special and unique. Due to the limited capacity, Cocky holders must quickly register their interest in attending the events.
If a holder receives a ticket and cannot attend, they have the option to sell it on the platform’s custom-built secondary market. To add further utility for NFT holders, only those with a Cocky token will be able to purchase tickets on the secondary marketplace.
Cocky has the vision to expand its ecosystem and community by throwing bigger and better events as time goes on. Their end goal is to grow the popularity of their events to a level where they can eventually open up their ticket sales to the general public. However, the VVVIP benefits will still only ever be reserved for Cocky Can holders.
Overall, Cocky has created a fantastic ecosystem to help lead the NFT music industry in a direction that will allow it to thrive. By providing exclusive access to world-class music events, Cocky will become one of the pioneers in the NFT music sector. The NFTs are set to be minted at some point in Q4 this year, so keep an eye out for the announcement on their social media handles.
Audius – A web-3 streaming platform built for musicians
Audius is a web-3 streaming platform that is built for all musicians. It allows artists to create a fanbase by sharing and publishing completed tracks for the world to hear.
The entire platform is a decentralized version of Spotify or Tidal, and it removes the middleman between artists and fans – allowing for a direct connection between them both.
Artists can upload their NFT collectibles as merchandise on the platform for their fans to buy.
One of the platform’s great features is that fans can earn money by becoming a node that shares the music on the network. The platform is powered by its native token, AUDIO, distributed to artists and node operators. 90% of all the revenue is given directly to the artists and 10 is then distributed to the nodes in the network.
The project was founded in 2018 after raising over $5 million in funding from venture capitalists such as General Catalyst, Lightspeed, Binance Labs, and Pantera Capital. Furthermore, it has already managed to gain the attention of some top-tier celebrities such as;
- Katy Perry
- Jason Derulo
- Steve Aoki
To keep the platform competitive, the artists can upload their music in the highest quality available in 320kps audio files – rivaling the likes of Tidal.
Furthermore, artists actively participating in the ecosystem are paid more on the network. For example, artists that interact with the fans and have a higher engagement will receive more AUDIO tokens.
In addition, artists earn more rewards if they make it to the top of any of the following leaderboards;
- Top 5 Weekly Trending Tracks
- Top 5 Weekly Trending Playlists
- Top 10 Monthly API App
The platform is available as a web app or can be downloaded on iOS and Android devices so fans can listen to the music on the go.
RefractionDAO – A decentralized global creative community of artists, creators, and fans.
RefractionDAO is a decentralized global creative community of artists, creators, and fans that aims to revolutionize the underground music scene by putting the decisions in the hands of the users.
The DAO will change how music events are organized in real life and in the open metaverse. Collectively, the DAO will organize the following:
- Produce festivals and ongoing events
- Release NFT projects
- Create written, visual, and audio content around art, culture, and music.
The entire principle of the RefractionDAO is to responsibly redistribute the upside revenue back to the musicians and creators while allowing for collective ownership between fans and artists.
One of the great things about RefractionDAO is that they mandate charitable participation as a requirement for every event. This means that the DAO will ensure that philanthropic efforts are a part of everything they do.
The cornerstone of the project is the Refraction Festival, a month-long project that features musical performances and art installations across the globe. The Festival is on-chain, and the events occur in over ten cities across five continents through the open metaverse. There are also performances in real life in the same locations.
The first Refraction Festival occurred in 2020, and they saw over 500,000 virtual attendees. Unfortunately, this was during a time when most of the world was in lockdown, preventing them from hosting any in-person events.
The Festival isn’t the only event that RefractionDAO hosts. Many events are lined up in New York, Berlin, Sao Paulo, and Vancouver.
All DAO members receive the following benefits;
- Admission to Refraction events around the globe
- Greenlist access to NFT drops
- Community access to private groups
- The ability to receive $REFRACT tokens.
Overall, RefractionDAO is one of the NFT projects ready to lead the industry forward with a new type of organization.
Circus Maximus – A Festival in Croatia created by a DAO
Circus Maximus is the first-ever DAO-based electronic dance music festival hosted in Croatia. The project has been hosting regular festivals in Croatia but recently moved into an NFT DAO-based organization structure to allow NFT holders to have a say in the event’s organization.
Their festivals are held at the Noa Beach Club in the Croatian resort of Novalja every August. This year, the festival witnessed performances from Steve Aoki, Vize, and Matroda.
A DAO is a decentralized autonomous organization not run by one sole entity. Instead, all the members of the DAO have the opportunity to cast their vote on proposals made by the community.
The team behind Circus Maximus is ready to grow with technology and let the participants of the festival have a say in the events they attend.
Members of the DAO have access to vote on proposals on how to spend the festival’s budget.
The DAO will have the ability to make decisions such as:
- The venue location and dates
- The performers lined up to entertain
- How the budget is distributed for the event
- The ticket prices and volume for the festival
To become a part of the DAO, members had to purchase one of the tickets to the festival, which came in the form of an NFT. The tickets were issued using the ERC-1155 standard on the xDai blockchain. Interestingly, the team managed to introduce a feature that introduces dynamic pricing for the tickets by utilizing a Bezier bonding curve in the code.
Overall, Circus Maximus is certainly leading the industry by allowing anybody to create their own festivals through a DAO-based membership system.
Centaurify – A platform to streamline tickets, albums, and collectible NFTs
Centaurify is all about empowering musicians. The platform aims to create a better experience for live concert goers while, at the same time, helping artists keep their freedom and unleash their creativity.
The platform is designed for artists to be able to issue tickets, release albums, and sell exclusive merchandise to their fans.
Their NFTs are called AAA NFTs, and they provide access to what Cetaurify calls the most exclusive web3 music community and social club.
The entire idea of the project is to allow event organizers to create concerts for artists and issue tickets on the blockchain in the form of NFTs. The technology will help organizers streamline the process of creating the event and distributing tickets to the fans of the artists.
Because the tickets are issued on the blockchain, it will totally remove counterfeiting from the equation, and NFT holders can be sure their tickets are authentic.
Furthermore, the platform offers an entire marketplace for music lovers to purchase the exclusive NFTs released by their favorite artists. Users can re-sell their tickets on the marketplace and also purchase authenticated merchandise.
The project was founded by Martin Bjerke and David Rootwelt-Norsberg and launched on the Cardano blockchain to streamline the music industry by providing an all-in-one platform for artists to release their music and sell their own tickets.
Overall, Centaurify has created a complete ecosystem where up-and-coming artists can release their music, tickets, and merchandise without giving away a large percentage of their revenues to third parties.
Overall, the NFTs for these five projects are ready to lead the industry forward and help organize events alongside advanced technology.
In our opinion, Cocky is an outstanding project that will use NFT collectibles to push the boundaries of how holders experience events. Their events will bring electronic music lovers to prestigious locations, and their collectibles will become highly desirable as the ecosystem matures. This pioneer is certainly ready to lead the industry forward.
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