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One way to look at the creator economy is to look at artists, musicians, and DJs. In the past, artists only make money from selling albums, earning royalties from streaming, and live performances. Web3, cryptos, and NFTs entered the music scene and rewrote the narrative of economic opportunities for music lovers.

Whether you’re a listener, a recording artist, or a music creator like my(previous)self who released songs on record labels & performed live, we all share the benefits of the future of Web3 music.

Just ask your favorite artists. Snoop Dogg released the latest album on blockchain and made $44M in 5 days. DJ 3LAU made $11.6M of NFTs by tokenizing his debut album. Steve Aoki reported he made more money in one NFT drop than from his 10 years of music advances.

Today, fans collect audio NFTs to showcase their fandom, earn passive income through song investment, and get paid in cryptos for listening to music. Artists can tokenize their songs into NFTs, create multiple income streams through social tokens and receive funding through DAOs (decentralized autonomous organizations).

In this piece, we will examine top startups that are redefining the future of music, consumer audio & social apps. We will also cover untapped market opportunities, and how to build the next big things in music 3.0!

Below is a preview of the full report. 🔥 Join my Pro Membership to unlock 24+ reports & 1,726+ company databases covering Internet trends like these:

• 👓 Metaverse & the Web3 Tools that Empower Creator Economy
• 💪 Creator Economy of Fitness, Peloton for “X” and Future of Fitness
• 📣 Audio-Based Content Economy

Section 1: Key Market Trends

(1) Audio files are being tokenized:

• In the past, people collect vinyl and CDs to show their support for their favorite artists. Today, fans can own NFTs as collectibles in the form of playable music, visual artwork, licenses, and gated “access pass” to content, communities, or interactions.
• New platforms exist to provide tools for artists to convert sounds into music NFTs, release music in a new format (NFTs), and offer a distribution platform for audio collectibles.
• Enjin allows you to tokenize every aspect of the music content such as album art, music videos, and concert tickets.
• Sound help artist release new singles in NFTs, host listening parties, and allow fans to collect their favorite songs.
• NFT Tone is where artists turn their songs and performance into limited NFTs. Fans can discover, invest and own these NFTs through the marketplace.

(2) NFT record labels put artists on the blockchain:

• Artists want to become household names. Record labels exist to bring more fans to the artists by providing distribution, marketing, expertise, and partnership to help artists grow.