Music NFTs are changing the dynamic between fans and artists, giving both parties new ways to engage online. The new dynamic is made possible by music NFT companies, who are fueling the transition with innovative new types of tokens that can be bought, sold, and traded online. Music NFTs allow fans to own portions of a song’s royalties, iconic memorabilia, or even access to digital concerts. Here are the companies making the biggest impact.

In 2021, just a few years since anyone had first heard of them, the market of music NFTs was valued at $1.24 billion — and it’s forecasted to grow to $42 billion by 2032. Blockchain technology has granted musicians a new way to monetize their craft, and this guide will show you how to be part of it. You’ll learn what NFTs for musicians are, why your business goals should include NFTs, and how you can grow new revenue streams with digital assets.

Web3 presents an exciting new opportunity for musicians to expand their reach beyond conventional channels and take control of their revenue. By minting NFTs on the blockchain, bands and performers can create unique digital items for collectors to own or sell, earning revenue with each transaction.

The NFT market is already on track to reach $80 billion by 2025, making it a valuable opportunity for musicians to connect with fans and sell albums, merchandise, and more. Read on to learn more about what music NFTs are, where to sell music NFTs, and which artists have already taken the plunge.

The same modern streaming platforms that make digital distribution possible also pay fractions of a penny with each play. Thankfully, artists are finding new ways to engage directly with fans by selling exclusive tracks, assets, and collectibles. There’s just one problem — understanding how to tokenize music without falling into the same pitfalls that plagued the old ways of digital distribution (or discovering all-new ones). Thankfully, the process is far less complicated than even the biggest names in music might realize.

As the music industry completes its migration toward digital services and streaming, one question continues to arise: How do artists get paid?

When users stream music over Spotify or other streaming apps, the artists make only fractions of a penny per play, making it difficult for many artists to survive on streaming alone. Finding out  how to mint music NFTs offers a solution to this problem by giving music lovers an exciting new choice in how to support music artists.

As an artist, minting music NFTs allows you to better control how your music is released, how it is consumed — both digitally and physically — and how you get paid. You can even add extras or add-ons that will increase the value of your NFT, as well as increase the likelihood a customer might buy one.

Music NFTs are opening a whole new world of monetization for businesses and brands. Non-fungible tokens (NFTs) allow music creators and collectible sellers complete control over the sale of their music and assets, offering higher returns and better security than traditional methods.

Music plays an important role in life, underscoring our highest highs and lowest lows. The personal connections that fans create with their favorite music may even form the basis of their cultural identity — and now that connection can go deeper. Bands and other music businesses can offer their own NFTs to connect with their fans, leveraging digital marketplaces to create recurring revenue streams. No matter how an organization chooses to make its foray into the NFT music world, it all starts with finding the best NFT marketplace for music to fit its needs.