Monetise music beyond NFTs
For the first time, music as NFTs can generate royalties for every play in web3 games & the Metaverse
NFT royalties are more than just a commission
Most music NFTs are sold for personal use (unless otherwise specified by creators). This is an essential factor to remember if you’re selling (or planning on selling) your songs as NFTs.
Why does this matter? It’s more important than you might think. Let us explain it with an example.
Picture this: Sandbox buys your music NFT ($100 for this example) and decides to play that song in one of their mini-games. This would give your song potential exposure to hundreds of thousands (if not millions) of listeners.
In exchange, all you get is $100 and “exposure”.
In reality, NFT buyers do not have permission to broadcast these songs into virtual worlds. And if they do, there must be a way for creators to be compensated for that usage.
Why you should care
Are your music NFTs played in a web3 app or Metaverse? Or are you a musician/label wanting exposure to web3 users but cannot sell NFTs?
If you answered “yes” to the above questions, then you’re not alone.
Many musicians struggle to sell NFTs and the revenue generated from secondary market trading is not sustainable for the long term.
EMEA rightsholders can now earn from every song played in web3. We’re now able to pay publishing royalties and if you own or represent the masters, we’ll collect and pay master royalties straight in your wallet.
This will ensure you’re compensated for the use of your music even if your NFTs are not traded.
What if I’m a musician outside the EMEA region
At this stage, we only have the option to collect and pay royalties to rightsholders in EMEA. We’re in the clearing stages for other territories and we’re aiming to service artists around the world.
I haven’t sold any NFTs, can I still generate royalties in web3?
We’ve created a music uploader that tokenises songs for free. This allows us to track web3 listens as well as broadcast these songs across our network of gaming partners and the metaverse.
How often do I get my payouts?
We aim to pay master royalties instantly if you choose to get paid in crypto. Monthly payments for those that prefer receiving their royalties in their bank account.
Publishing royalties are paid to your PRO and they’ll process the payments according to their statement cycles.
What if my songs are not registered with a PRO?
We highly recommend you do this sooner rather than later.
While we’d love to pay web3 publishing royalties directly to artists, we have to work with PROs around the world to ensure these payouts are included with the rest of your publishing. Not registering your songs with a PRO would mean you’re missing out on a large portion of your royalties (radio plays, streaming, TV…).