How To Make NFTs For Music | $11.7 Million Album Release
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- Опубликовано: 1 мар 2021
- FREE GUIDE: 61 Ways To Get More Exposure For Your Music jammob.com/61ways
What are NFTs? How can you use them to make more money next time you release music? Are NFTs the future of the music industry?
A producer that goes by the moniker of 3LAU just made $11.7 Million releasing an album in the form of digital tokens called NFTs.
NFT stands for "Non-Fungible Token"
They're unique digital tokens that use blockchain technology that prevents them from being replicated. Blockchain is the technology behind cryptocurrencies like Bitcoin and Ethereum.
In this video, I'll explain why these NFTs can (sometimes) be so valuable and how to create your own NFT with your music.
I also cover a "low-tech" alternative.
Resources Mentioned:
61 Ways To Get More Exposure For Your Music (free guide):
www.jammob.com/61ways/
One Groove Vinyl
www.onegroovevinyl.com/
Pinata
pinata.cloud/
Rarible
app.rarible.com/
How To Mint An Audio NFT (article):
/ how-to-mint-an-audio-n...
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Let's connect :-)
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Twitter: @JamMobSocial
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Website: jammob.com 
Хобби
Grab your totally free copy of "61 Ways To Get More Exposure For Your Music" www.jammob.com/61ways/ 👈
Have a look at houseofnft. They helped me mint my first NFT. And I'm from Zimbabwe.
For anyone wondering, the actual video starts at 9:20 🤘🤘
Thank you for the help
The real win with NFT in music is the ability for artists and producers to build community. We gotta stop focusing on money. There is not a 11mil payday for everyone. Focus on building community with your fans. This will create positive feedback loops. NFTs are the beginning of a new music ecosystem outside the traditional. We have AR, VR, and the metaverse coming. Those who focus on tying it altogether will crush those looking for a quick buck.
absolutely! building a community will have the best payoff in the longrun
All facts
I love your thinking here. Do you have any thoughts or resources on how one builds a community in or around the NFT world? What does that even look like? Or even mean? Thanks!
Actually you can't build a community with NFTs themselves, that's the opposite. You gotta already have a community to get your NFTs sold
Unless you're incredibly active in the NFT market
@@JoJoboiWav regardless of having the community already or not, the nft is a great tool for building one or fortifying one. and you do not need a community in order to sell an nft. anyone can put one up to be bought by anyone. no need to be active in the nft world.
Great video brother! Stay prosperous!
Man, your videos are extremely useful ❤️! I also love your videos because you're not speaking "an hour" about different thing than the original topic of the video!
Thanks for this help nfo.. I hit the button also.. 👍🏾👍🏾👍🏾🙏🏾
short and on-point explanation. Thank you buddy!
So many gems and valuable information in this video!
Great vid. Thanks for expanding understanding of blockchain into non fungible tokens
Thankx Gang Its was Very helpful
Now i finally understand the hype. Very interesting! Thanks for this!
I’m really excited for this! 💪🏼💪🏼💪🏼
Thanks for the heads up. I am definitely looking forward to releasing my next video with supporting NFT links.
Love it
Thank you for creating this video. Quite informative!
Glad you enjoyed it! Thanks for watching
Great video, Thanks for the info!!!
liked and subscribed. Thanks you kind sir!
Big Tnx !!! You work is very important
Thanks bruh. I was entirely unaware about this stuff.
Awesome info. Thanks✌🏾
You bet! Thanks for watching and supporting the channel
Awesome explanation! Thanks so much. I'm a student of crypto and just learned about NFTs. Had a hard time wrapping my head around the concept, buy your video broke it down perfectly and now I "get it"! Can't thank you enough!
Glad it was helpful!
Hey I’m trying to drop my music on nft can you help me
great video, very clear, thanks
Glad it was helpful!
Great articulation of how music artists can dive into NFTs. And all the research you did is so well delivered. So funny! That part when you say •what a douchebag” that was so funny! 5:49 Thanks for the info!
Glad you found it helpful!
Very helpful, thanks mate!
Glad it helped! Thanks for watching
Great Video!!!!
Thanks great video
I am subcribe to you bro the video was help ful
Exciting stuff!!
Thanks for sharing this !
That's awesome 👌
Thanks buddy
Glad you liked it! Thanks for watching
Very informative, thank you
I'm subscribing 💯
🙏🙏🙏
This e future of music! This can be extended to music licensing ect also! Great video!
too stupid to be funny
Right.. kind of the same thing.
Thank you so much I've been looking for this EDM to use my new CD will be out soon Albert J Anderson from the seed group podcast I already subscribed lighted and rang the bell
Dope thanks
Thank you bro!
great vid! thank you
Glad you liked it! Thanks for watching
It was very helpful! Thank you 🤍
Great video!!!! Thank you!
Glad you liked it!
Very interesting. Thanks for the content
Glad you enjoyed it!
awsome thank you
Awesome!
Amazing thank you!
You're very welcome!
Thanks bro💪🏾
Thanks for watching!
in the upload file section I uploaded my music video do I have to mute the audio or just keep as it is originally ???
After u mint the token and paid the fees is that NFT just 1 singular token for 1 purchase or is that NFT able to be duplicated since it’s your specific NFT u created?
Good info
this is soooo coool !!!!!!!!!
Glad you like it! Thanks for watching
One thing I can see going wrong with NFT's is the price. I understand a painting or one-off piece of art could go up in value but the only time you want to make music with NFT's is if it is a collectable album as he describes. This would be no good for multiple releases. If you want to get your music out there in bulk to as many people as possible then it will either cost you a fortune in NFT creating or it will no longer be rare and lose value.
But that is not the worst of it. Unless you are the Beatles or something then it is not likely your music will go up in value. Even a one off will have a price ceiling. Your product has 2 forces affecting the price. The first is the song. So if you get famous or even better, if you get famous and die, that will raise the price. The other thing is the NFT itself because people are buying them hoping for a rise in price.
The first thing I already talked about, if you are not famous or about to die then the song will not be desirable even if it is good. They could go online and finds it on your Spotify or SoundCloud or wherever you have it to listen to for free.
The second thing is the price of the NFT. Some people are saying it is a scam and will mean nothing soon (Remember Bitcoin and how many times it has been called a scam?) But the second thing is the way in which you buy the NFT. As far as I can tell it is with Etherium. Now if Etherium goes up you might think this is awesome my NFT is now worth say $10k instead of $1k. But now you have to be able to sell it. Remember it is not Etherium you are selling, you are only using Etherium for the transaction. So the buyer will be like "Wait, I paid $10k to get this Eth there is no way I'm going to give you that for a song." Remember the NFT represents the song not the Etherium you used to buy it.
Am I wrong? Did I not understand it? He even said it depends on the price of Etherium on the day as to whether it makes it worth while to even create the NFT for a song or picture if you don't think you can sell it for that much.
Just my thoughts
Thank u
I like the way you broke this down. Very informative. Thanks for sharing
to muccccch get to it
Great video! My nickname was Jam in high school playing basketball!
Love it :-)
How do you promote audio or visual NFTs - Do you show snippets/teasers of it? Or would that work against the exclusivity?? Cant believe that this is so new that i actually have to ask this question lol
Aye brotha, a man who learns to ask. Has the entire world of knowledge at his hands. 🧠🔋
I don’t think it would matter it’s like collecting records the owner owns the original copy.
Man ever since i heard bout nfts i started thinking how i could make music into one Especially when i seen how little pixelated pictures were worth so much n still don't fully understand nfts but for music I think it would be cool to make it where artists on come up could give fans who believe early a chance to invest into a song n not just own it and sell it like a trading card once value rises but a chance to own a piece of a song they believe will perform well and they own a small percent like a .5 share of w.e the artist willing give up each song say they willing to give 30% of the song in .5 increments at 1k each or w.e they feel it worth of w.e crypto or money and essentially u would have fans really looking for gems knowing picking the right song cud change the buyers life as well if the artist blows up crazy.
So I partially understand the NFT's related to the "personalized pictures of people/animals" but... that's one thing that's often misinterpreted, not personalized, they're randomly generated. Of the communities with NFT projects I've seen, they all hold 10k uniquely randomized NFT's. However the shared attributes % distinguishes their rarity and thus worth. So if you have the only NFT with an octopus hat and a middle finger poised. Then out of the other 10k NFT'S, you'll find more worth later on in it.
All NFT's are not "winners" though so do some research to find out if they have any community support(not bot support) you gotta be careful. Mother fuckers out here will scam their grandma nowadays. Snakey ass bitches. Back to the point. My points are done. Fuck snakey people, and pussies. 🎤⬇️
The same way u promote a CD. It is the same actually, just digital. If a MP3 can be duplicated and sent for free, this can not be duplicated or faked. Its simply a material thing in a virtual world. U decide on the amount u mint and how scarce u want it to be. They are different ways of minting it and the way to promote it has limitless possibilities, depends on your strategy and way of view. You can auction it u can sell it via QR code and so many more options. Check out how Tarantino auctions an unreleased scene from Pulp Fiction.
What is a wallet and what is it used for? THANKS
Just wondering and thinking out loud but couldn't we use NFTs as a way of just sharing music. Instead of using streaming sites just buy/swap/download/stream the NFT of the album/single?
my computer isnt showing it the same way as you are showing and explaining it. please help!
This was very helpful. I'll f/u in the comments once I mint my first NFT. As promised, I subscribed. :) Peace!
what about where to mint music lyrics nft
Very thoroughly explained video! My only question would be is it possible to mint an entire album as an nft? And if so how different is the process?
I followed the instructions in the video and created the NFT - but in rarible it seems to catgorise it as "art" rather than music - I don't see any way to change it....
Interesting
is there any where that this will be elaborated on? Im not sure I understand everything. What does minting the coin do? That coin represents an exclusive item that you created and sell? As usual bro you are awesome thanks for all this I love it. Just got into crypto
I'm far from a cyrpto expert here, but essentially "minting" an NFT is the process of creating the token and connecting it to the blockchain.
Like you would"mint" a metal coin in the physical world, so the metal becomes something value; "minting" a digital token connects a digital file to the blockchain, so it becomes something unique that can't be replicated.
As far as the technical process of how that actually works is beyond me unfortunately lol. Here's an article that might help a bit help.foundation.app/en/articles/4742869-a-complete-guide-to-minting-an-nft
@@JamMob Thanks man so that coin that is minted in the blockchain world is directly connected to say an unreleased track and it can only be accessed by the owner of that digital coin? So we are creating unique digital properties and if they are say one of a kind items the fans have a way to access them and buy them?
Yep. That's the gist of it
See Ya Labels n Fables 👋🏿! NFT Bound!
there are two payments.. the second one for minting the NFT is USD45. What do you guys think?
Can’t wait to hear beethovens 9th sympathy
LOL
Painting the tape is very important.
What if I wanna use a different nft platform
If I post music as an NFT where can it be accessed?
Can you upload multiple tracks at once I.e an entire album?
That’s what I want to know
Where can an artist record an album sell it as a 10ft but still put it out how does that work whoever bought the nft gets to make profits from the album
do nfts also store video files?
NFTs don’t usually store anything, they just point to other things. Think of an NFT as like a serial-numbered slipcover or frame you could put a picture or album in. It’s not interesting on its own aside from the uniqueness of its serial number.
So can an artist record a song sell it as an nft but still put it out and whoever bought the nft gets to make profits from it I'm very confused
How about the Arabian Camels NFT items?
MVerse is a groundbreaking new platform that uses blockchain technology to transform the music industry. I can't wait to see what the future holds for this platform.
The future is not coming we are swimming in it as we speak. Wow!
That was great, thanks! I finally understand how the whole NFT thing works :) However, what I don't understand is what keeps an NFT valuable (and hence makes it valuable in the first place)... what would stop you sharing you track publicly after doing all this? Thanks! :)
Can you create more than one NFT with one song? For example, I wanted to release 3 NFTs for one song. 3 different cover graphics, same audio file. Is there anything stopping me from doing this?
You can release a million NFTs for 1 song if you want to
@@JamMob On the one hand that is great news! On the other hand I'm not seeing where the scarcity comes in at that point?
Correct. Don't make a million
Is it possible to do this with a cardano nft?
Not an expert on crypto or NFTs, but yes... I believe it would be the same basic principle.
NFTs are the same on all blockchains. Eventually all will be interoperable.
Wouldn’t be cool that this tool opens the opportunity of fragmented ownership on licensing, think stocks on songs that pays dividends to NFT holders every time the song is used. Do you foresee this type of application for music and even movies?
It's certainly possible
wow that's creative
Firereeeeee
Fact
OpenSea allows minting through the polygon network with zero etherium gas fees.
Great video on NFTs for the Music Industry. 👍 Do you have any NFTs of your own?
Wouldn't it be easier to do it on opensea ?
Did you sell anyNFTthing yet? 😎🎸👌
ok but you only showed how to upload a single song, how do you do a whole album
Don't get me wrong, I don't know anything and I don't want to come across like I know anything better. I just had an idea that maybe you attract more attention if you work with different color lights. Maybe the AI recognizes colors as salient and starts recommending the videos to a younger and audience that's generally into art. Just an idea. No idea if it would help. Your videos need to be seen! You deserve it
Feel free to share the videos with friends. That will help the most 🙂
So the big problem with current NFTs is the extreme electricity usage to mine/mint them. Maybe a month’s worth of electricity for a household to mint just one NFT, due to the “Proof of Work” model they are based on (as are most of the popular cryptocurrencies, like Bitcoin and Ethereum). There are some that do not have this huge electricity expenditure, based on other models like “Proof of Stake”. Flow is one such. The problem is the PoS models are much less mature and not as commonly used compared to the PoW ones. (Flow does have a lot of major backers behind its development, such as NBA, Samsung, UFC, Warner Music, and Ubisoft, but it doesn’t seem as ready for user-friendly usage by small independent creators just yet.)
The cost of minting NFTs will quickly come down to pennies soon. Either being minted on other cheaper cryptocurrency chains or Ethereum itself when it changes to proof of work to proof of stake. Just be patient and do some homework on different chains like XRP or XLM that have mentioned being able to create NFTs on for just a few pennies.
Yes this is important. Proof of Work is EXTREMELY energy-intensive, on purpose. If you care about not spilling as much greenhouse gasses as a typical household in a month just to mint one NFT, wait for Proof of Stake or similar approaches to be more mature and widespread. (Flow, for instance.)
you are the combination of the rock and nicolas cage...!😊
I’m confused tho, why would people want to buy an NFT for the 3lau album if it’s already been released and is available on iTunes and Spotify
Collectibles
It's unique. The same reason why a superfan will buy a deluxe limited edition version of an album that they could stream for free on Spotify.
@@JamMob same reason why fans buy Vinyls when they can stream for free
@@JamMob how different is the NFT of say the 3lau album than a digital download of the album? Is there a difference?
Limited edition.
Do fans gain any monetary benefit from nft’s or is just a platform for artists to grow their incomes only?
if you buy the art. you can sell it at higher rate. the artist will make a percentage off of your sale depending on the contract you agreed to when purchasing. the art you buy is now an asset to you
They can be traded like any other collectible. So if they appreciate in value, yes, the collector can profit from selling it later.
NFTs appears no different than a URL market place; basically its "digital underwriting."
Lmao dude, go look up unforgeable costliness
Same concept.
hmm...you can just sell the wav file in an online shop and limit the stock to 1. why the whole blockchain etc?
cause in an aonline shop people can just copy it and paste and sell after they buy it, the blockchain allows a unique piece of something to be provable as one of a kind by tokenizing it.
look at nft as a digital fingerprint. nobody has your print right?
And you get a royalty everytime somebody sales your art
Yes, if you choose. That's something you set when you create your token.
@@JamMob If someone has the NFT of a song cant' they just record it to another program and then leak it as an mp3 or wave file? Is there anything that stops someone from doing that? Or is that just part of life.
No, I didn’t understand how he actually did that because you didn’t tell us that. How exactly did he do it: 33 songs? 33 different versions of the same album? 33 identical versions of it? Did he sell it them at once? And how did he get to set such a high price? I still don’t understand anything and that’s why I haven’t yet subscribed. I’ll stick around though because I like you. 💪
All you really need to understand is that he was able to do it because he has a huge fan base already.
Smaller number of NFTs = more rare = more value
IF you have fans willing to pay for them.
So .... an NFT is a limited edition replication of music ?
No buddy ur lost
Can't the buyer immediately make copies of MP3s that are sold as NFT?
Correct me if I'm wrong.
They can't be one-of-a-kind if there can be copies
The Mona Lisa is one of a kind but there are many copies. Only one original.
@@uptimemusic3627 yes, but it would be next to impossible to paint a copy of the Mona Lisa. It would be a print only.
Digital files can be copied exactly
@@swensonmusic1165 sure, I get you - I'm just learning about all this tbh. Perhaps it has something to do with a unique 'barcode'?
And then you have to pay another $40-50 to accept a sale right?
Something like that to "mint" the token, but that will vary from one second to the next. The cost is based on the value of Ethereum, which is extremely volatile
@@JamMob my point is that you pay it twice - first to mint the token and second to accept a purchase or bid
@@JamMob is it possible to see all the gas fees before you upload your art?
I don’t get what’s hard about the NFT. It seems pretty easy and worth it :) I’m gonna try it on my next song.
One small question arises - how can a person listen to a track BEFORE buying, or does he receive a surprise or a pig in a poke?
I can hear it before buying
@@tierb6364 How? The file is available via the link, and the link opens only after purchase
@@valb8422 ahh okay sorry. I was on another arrist and there u can hear.
But i saw the link version too. :/
@@tierb6364 It is possible for listening to it is reasonable to expose mp3, and in the link wav or flac, for example
The us dollar... you lost me at that part as an example of "finite" resources. Them boys print money out of thin air 😅 it ain't a secret xd
Starts at 7:49
Thanks for the help 🙏
What happens with copyright and own the right to the music? As a creator it would be extremely concerning
You would still own the copyright. Just like any other time you sell a recording of your music you retain ownership of the copyright
@@JamMob unless of course, your work is a derivative of someone else’s and/or contains audio samples of other copyright work
NFTs have no influence on copyright whatsoever. They are just fancy serial numbers pointing to an ordinary digital file. (Serial numbers that take an incredible amount of electricity to generate, mind you, in most current implementations.)