Snoop Dogg, Pussy Riot, Grimes, Shawn Mendes, Kings of Leon, Steve Aoki, 3lau. We know them, we listen to them, we love them. These are the ‘big fish’. These are the fish in the big blue ocean that any project would love to hook. Unfortunately, we are currently in a paddle boat on the Mississippi River. And it’s okay. There are still plenty of smaller fish to catch. There is plenty of time to catch them.
I would like to present a story over the past month of a small, independent artist (~8K followers on Twitter) that launched a MusicNFT collection in a bear market and sold out the public mint in 24 hours.
within 24 hours of public mint. 308 owners. floor price 0.1 ETH. OpenSea
First, Daniel Allan enlisted the help of Henry Chatfield and mirror.xyz to crowdfund a ‘songwriting’ camp for musicians. This ‘camp’ would ultimately create the ‘Glass House’ project. The crowdfund raised 9.30 ETH in a little less than a month and was used for artist expenses (flight, travel, food), an airbnb that doubled as a studio and housing, and stipends for the co-authors.
The crowdfund was a success. Also, I think this is a wonderful of example of why you should not build in the dark. Daniel used a multitude of partnerships, both personal and business, to build hype and shed light on the project. So, what do those that bought the crowdfund NFT get in return?
All perks are fairly straightforward and novel. In fact, I would argue that these perks should be standard with any type of fundraise NFT specific to an artist’s music.
Now that the funds have been raised to help initiate the project and gather the team, it’s time to build. Most musicians are minting their work on the traditional marketplaces like OpenSea (Ethereum and Solana). However, there are specialized music NFT marketplaces like Royal (Ethereum and Polygon) that allow artists to mint their music. Royal also does a good job for an intuitive fan experience. Allowing credit and debit purchases, as well as crypto. Royal also allows users to create a new wallet on their platform.
All that aside, Daniel decided to create his own platform soliciting the help of bonfire and rampp to build his drop independently.
The path that Daniel took can be expensive and not feasible for other smaller artists looking to mint their work. It’s an interesting take on the process, though. Maybe there’s a platform that creates an artists own marketplace 🤔
Token-gate everything. Exclusive access to Telegram channels and discord servers using tools like guild.xyz and hosting, co-hosting, and partnering with several Music NFT-centric Twitter spaces, and podcasts, helped Daniel create hype and exclusivity. Hype and exclusivity. Cornerstones of the NFT market, currently.
Launch. . .
Continue. . .use 0xSplits to distribute pay to artists
Case Study #2 -