The best chain to create your music NFTs?

If you made it here, you may have wanted to learn about the best blockchain for musicians. Maybe you’re into low fees, maybe into community, or maybe you just don’t have much clue about where to start.

In this post, we’ll discuss:

• The current situation of most newcomer web3 musicians
• How unscalable it is for music teams to upskill to benefit from web3
• Share a new standard that will make it easier for everyone & for the long term.

“This chain is the best. No, this is the best. No, this one…”

Confusion and too much choice.

Most of the conversations we have with label execs, artist managers & music makers always include an element of them still researching what the best option is.

For early adopters, it’s only natural to shout to the world how great their own choices are. It feels like more than educational content, most web3 users are force-feeding information to those who are overwhelmed about the space.

The reality of music teams

Business admin, PR & marketing, tour management, accounting, and now, also developers?

Musicians and their teams have many roles. Throughout the years, more musicians are less music makers and more business leaders. We’re not criticising the transformation, though. As a creator in a money-making culture, running a music project as a business can be the most sustainable way for longevity. But that’s another topic.

There are around 18k developers building in web3. Comparing that number with the 8M artists (stats from May ’22) on Spotify, the choice looks quite limited.

Taking into consideration the limited resources & funds the majority of music teams have, the psychological barrier is obvious: who out of the 18k developers to trust?, is there really an actual “expert” that can offer an unbiased opinion?, what platform is legit and which one is trying to take advantage?

A music standard

Choosing a blockchain can be overwhelming for first-time NFT creators. For those creating music NFTs, you’ll hear of many startups creating a blockchain or protocol that will be the “music blockchain”, or the “home for music NFTs”.

However, there are ways we can support artists for the long term and offer open source tech that can help them exploit music in web3 regardless of the blockchain they choose.

For that reason, we’ve created a music metadata standard that will be available to anyone making music NFTs. The concept is to ensure music usage in web3 is traced and reported to the original IP creator.

With this piece of tech, we aim to support musicians that want a standard for all their songs even if they’re selling in different blockchains. And for those who are first-time NFT creators, to offer reassurance that their IP is protected.

Where to get this code?

The standard is ready and is being implemented by partners. We’re receiving feedback about the documentation as well as how easy/difficult it is to implement.

The official release date will be 1st week of November and will be made available to everyone. For free. With no restrictions. Always.

Where can you get the best of us?

Twitter: For regular updates
https://twitter.com/soundpickr

Reddit: In-depth discussions, music conversations
https://www.reddit.com/user/soundpickr

Blog: General music industry analysis & music NFT insights
https://blog.soundpickr.com/blog/

Medium: Regular & detailed updates about Soundpickr
https://soundpickr.medium.com/

Discord: For community and support queries
https://discord.gg/4ByPgFeEYw