Are you thinking about selling music NFTs? 

NFTs are a great way to identify, strengthen, and connect with existing fans while also gaining new ones.

Before choosing a platform for your music release, I would look for a few things like:

• High sales percentages for artists.
• Low minting fees. (Low upload costs)
• Decentralized.
• Active community.

What is a music NFT?

A music NFT is a digital token that represents an asset in the music industry. A NFT holder can use it to access media and/or an experience, as well as trade it on secondary markets.

Why sell music NFTs?

Artists can use music NFTs as a new way to distribute their music and to generate additional revenue. Music NFTs can be used to create a unique fan experience and to build a closer connection with fans. They can also be used to promote and sell experiences like tickets and merchandise. 

What can artists sell as music NFTs?

Artists can sell illustrations, photos, sounds, songs, albums, videos, and music videos. It can be sold just as a collectible, or it can be sold with utility like song rights, and exclusive access like event tickets, merch or meet and greets. 

We've put together a list of platforms to help you decide which one to use for your next NFT project.

BEST MUSIC NFT PLATFORMS

1. OPENSEA

OpenSea is the first and largest NFT Marketplace available. With over 600,000 users, it is currently the most popular destination for artists looking to sell their NFTs. On OpenSea established artists have used their platform for their own projects like The Weeknd, Snoop Dogg, & Gramatik.

Minting Fee / Upload Fee: Users must pay gas fees on the first two transactions to set up their account. After initial payment, transactions are free on the polygon network.

Primary Sale Percentage: 97.5%

Secondary Sale Percentage: Up to 10%

Onboarding: Instant.

Networks: Ethereum, Polygon, & Klatyn.

2. RARIBLE

Rarible is an NFT Marketplace founded in the year 2020. Rarible is unique in that it has decentralized governance, which means that the community of users who use the platform has a say in Rarible's direction.

Minting Fee / Upload Fee: No Fees.

Primary Sale Percentage: 97.5%

Secondary Sale Percentage: Up to 50%

Onboarding Time: Instant.

Networks: Flow, Tezos and Ethereum, Polygon (Beta stage).

3. MINTABLE

Mintable is a Singapore based NFT Marketplace built on top of Ethereum. They allow their users to create, buy and sell digital items for cryptocurrencies on their platform. 

Minting Fee / Upload Fee: No Fees.

Primary Sale Percentage: 90% - 97.5%

Secondary Sale Percentage: Artists Choice.

Onboarding Time: Instant.

Networks: Ethereum, Immutable X and Zilliqa.

4. PIANITY

Pianity is an environmentally friendly music NFT marketplace powered by Arweave. Users can create, sell, buy, and collect songs on the platform. Pianity is privately held and headquartered in Paris, France.

Minting Fee / Upload Fee: No Fees.

Primary Sale Percentage: 80%

Secondary Sale Percentage: 8%

Onboarding Time: Slow. One artist is chosen by the community every day.

Networks:  Arweave.

5. CATALOG

Catalog is a music NFT marketplace built on Ethereum, their vision is building a place, "where making money from music isn’t a miracle". On Catalog artists can only sell one-of-one digital records.

Minting Fee / Upload Fee: Ethereum Gas Fees.

Primary Sale Percentage: 100%

Secondary Sale Percentage: Artists Choice.

Onboarding Time: Slow. Submission and Invite Only. 

Networks: Ethereum

6. SOUND.XYZ

SOUND.XYZ is an NFT marketplace that turns your music release into a virtual listening party event. SOUND.XYZ is dedicated to increasing the value of artists' music. Their goal is to assist artists in making a full-time living solely from their music. Sound released a Snoop Dogg project

Minting Fee / Upload Fee: Ethereum Gas Fees.

Primary Sale Percentage: 100%

Secondary Sale Percentage: 10%

Onboarding Time: Slow. Invite Only. 

Networks: Ethereum

Wrap Up

In conclusion, there are a few things to keep in mind when selling music as NFTs. It’s important to choose the right platform in order to ensure the widest reach and easiest access for buyers.

We have to remember that NFTs are still in their early stages, so it may take some time, effort and experimentation to launch a successful project. 

It's an exciting time to be an artist; hopefully, the dream of a transparent, fair, and fruitful music industry will come true with these music NFT platforms leading the way.