Pressures of the bear market are setting in.
Music NFT sales slowed as artists and collectors try and find the balance.
Collectors have vocalized a strained environment due to a lack of secondary sales while artists have vocalized a desire to mitigate all Music NFTs being listed for 0.01 ETH.
While there’s no one right answer - this dynamic is the cornerstone of a maturing market.
What is the “standard” supply and price for a Music NFT?
Should there even be a standard?
Collectors have a finite amount of ETH.
Artists deserve to price their work however they see fit.
Keep a close eye on how the meta evolves in the coming weeks.
Separately - Spotify dipped their toes into web3 by debuting token-gated playlists.
While it’s a long way from a “collect” button - this is a huge win for the space and demonstrates that serious players are figuring out how to get involved.
Lastly - ETH Denver is this week.
Coop Records is partnering with Sound, Spinamp and LNRZ to host a Music NFT Kickback.
With sets from Daniel Allan, Bloody White, Dot, Clear Eyes and Eva Myra May - this is not one you want to miss!
RSVP here and we’ll see you on Saturday night!
Here’s what to watch this week.
Spotify debuts a new feature in partnership with Kingship
NFT Now details it’s forthcoming Now Pass in Paris
Songcamp hosts its 100 consecutive weekly call
SWEETS 2 comes to an end with a full recap
Coop Records announces a Music NFT event at ETH Denver with Sound, Spinamp and LNRZ.
Spinamp adds support for Arpeggi
Angelbaby parnters with Showtime for a presave giveaway for The Otherside
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Disclosure: I am an investor in NFT Now, Songcamp, Arpeggi, Showtime and the Hume Collective. I have also collected most of the songs mentioned in Freshly Minted.