4 Passive Income Ideas for Music NFTs

Curated By Ralph

Ralph Chua is a publisher. He is passionate about NFTs and blockchain technology. This website is curated with content from his favorite source of information. He created this website with the intention to stay up to date with the ever-evolving and groundbreaking NFT industry.

Today I'm excited to talk with you about Four potential music nft ideas to Generate passive income in 2023 but Before I get into it I want to share With you guys a few personal details About my life growing up there was no Shortage of art around me when I was Going to school in California I was in The northern part not really the LA or Southern California type of vibe that You might see And I like to distinguish between the Two because I do think there's a big Difference between this Southern California and the Northern California Environment and if you've ever been to California you've been to both sides you Know what I'm talking about nevertheless The environment that was around me when I was in school was very much a lot of Instruments a lot of Arts we were Painting we were taking nature walks I Was at a school that wasn't really your Traditional public school because Luckily I had some parents with the Awareness to help me think creatively From a young age started making music And producing it when I was in high School and by the age of 17 I was making Songs for a multi-billion dollar company Called Invisalign and a few other Companies and basically giving them These little Chimes and songs that they Could have for their brand it turned out

To be a really good but I also really Wanted to learn about marketing business I've been making music for most of my Life yes but like many of you I'm also Looking for ways to to increase my Streams of income and be able to Monetize using my artistic abilities That's really important so that you can Actually get more out of the artistic Avenues that you pursue and that's Really why I've been exploring the world Of nfts if you get any value out of this Video or you'd like to stay up to date With the music nft space then feel free To subscribe and if you have the Opportunity to hit a like on this video I would love to just continue to be able To make this content for you all in a Way that you can appreciate it so do Comment down below if you have any Suggestions for videos or certain Questions you might have about the Industry I want to share with you some Ideas that I think would be great Sources of passive income here in 2023. The first idea for generating passive Income is offering your music as an Exclusive ticket to an experience you Can offer nft tickets that when people Buy them there's going to be a set Number of tickets you have available and The people that buy these tickets get Access to watch one of your performances I know it might sound crazy that why

Wouldn't you just offer a ticket like a Normal you know website but when it Comes to offering nfts the whole point Is is that you have the ability to give Them something that they can hold on to And you can add more value and break the Ground for what it is that you can offer To them by having them get an nft they Have a collectible in your career Something that maybe they can get more Value out of in the future and they can Resell as your career goes well but at The same time they get access to Virtual Concerts access to digital performances Or live performances that you're able to Share with them when they own your nft So how you would do this is simply go on A platform like openc and if you want to Know why it's open C it's simply because That's one that has very very low fees If not zero fees and it has a access to Many different blockchains and it's one Of the most secure platforms that I Wouldn't share with you guys unless I Personally have found it to be secure Very effective in getting your offer out And also the ability to streamline what It is that you're offering so you can Have unlockable contents you can add Links that they get when they buy the Nfts you can specify how many tickets in This case there will be available of That nft and then when people buy them It's very simple they can either connect

Their wallet there or they can buy with A credit card and it's really Straightforward for them to purchase Them so personally all the nfts I've Invested in and all the ones that I've Offered have been on openc simply look At Coachella Coachella offered nfts for all the People that wanted to be in their Coachella concert and if you wanted to Have an exclusive access to Coachella You could buy an nft they had nfts up to A million dollars for the Uber rich or I Guess the not super rich but people that Have a good amount of money and then They had you know the More affordable tickets that were around 400 bucks to 500 bucks and some of them Got you in and some of them were just Collectibles that you could buy for the Coachella event so that's a simple Experience and that was something that Was exclusively available to them that Was offered through The Coachella experience you can do Something like that as well number two Is going to be limited edition album Covers So if you have a lot of pride in the Artwork that's not just the music but Might be the actual album cover itself What you can do is when you have a song That's available On Spotify or on web 2. I don't want to

Keep saying Spotify because I say in so Many videos but It could be it could be SoundCloud it Could be you know YouTube uh what have You the reason I like Spotify recently Is I was just talking with a friend that Works at Spotify on Instagram in the DMS And he was telling me that they just Recently made it to where Spotify you Can connect your wallet to your Spotify App and get access to certain artists uh Their playlists that are only accessible Unless you connect your crypto wallet And it's an nft that that uh you're Holding and when you have that token That nft you're able to view that Playlist so Spotify is just kind of Innovating and they're kind of pushing It towards so that's why I use them as The example YouTube's trying and they Just recently hired a new CEO that's Going for the nft so I'm really excited About that but Um but that but that's why I keep you Know going down on the spot of my route But let's say you have your music out on On uh Napster and you take your music And you put it also as an nft so you Have an album cover and maybe it's five To seven songs Those songs the album you also want to Offer as an ft so you take that album Artwork you make it exclusive maybe you

Mix it up make it really nice and add Some unreleased songs from the album and Some other things and you put it out Onto open C and you have let's say 10 Copies or 100 copies at 100 bucks each So if someone buys one of them let's say You sell a 100 at 100 each you made ten Thousand dollars for this collection Um you'd be you'd have to hustle it Takes a lot of work and selling nfts Isn't easy but there's lots of resources That you can use in today's world in Order to streamline that process and Make it faster and get more clients or More people that are interested in your Music that much easier by using some of The methods we covered on this channel But I mean literally just go on like Twitter go to music app to radio or Anywhere else and you can just share Your product that's just like if you're Just starting out it's basically like Knocking on doors like that's what you Do you go there and let's say you sell You know ten thousand dollars or Whatever you have available from your Collection At that point you then have your artwork Out there so it's a limited edition Album cover it's a rare nft that has Exclusive content that you're not Offering anywhere else another the other Really good part about that Is that you can also

Um send them something physically if you Wanted to send them physically like an Album cover then you could do that as Well and I would encourage you to Explore the idea of also sending Something physically to the holders of Your nft music because some people still Really appreciate vinyl records I mean Personally I don't have a vinyl record Player right now I have had one in the Past and I actually really like the idea Of having vinyl records if it's a T-shirt or if it's you know glasses a Wash something that they can wear that's Really cool as well if you're a female Artist I know the makeup route is really Effective you know so thinking about the Physical products that you can give to Those those individuals that are getting Your music nfts Um will be based kind of on you know It's Rarity so they'll be excited to get Those products the problem is then you Have to find a third party if you're Doing like wearables go to printify or Someplace where you can print your brand On products and send it to them or you Can actually create manufacture your own Product it's really up to you however You would like to do that personally I Like the vinyl record and I like the Wearables approach and uh if you have Something that you can create that's Awesome just think about your time if

You're selling a lot of nfts How easy is it going to be to actually Make that product every single day for People that are buying if you're doing Your job right if you're promoting every Day and you're actually working and Sitting down and actually doing the work To get your project out there then You're absolutely going to find that Your time is going to be more valuable You're not going to have time to sit Around and and make mugs or something Just to send out so I encourage like Digital product or or something that's Kind of easy to automate Like I remember I was setting up a store One time for a business we were running Back in 2019 and uh it was called stock Mate and basically this was something Where I was setting up a subscription Model For the business where when someone Would buy the product it was a digital Product every time that they bought it They would get a coupon code And that coupon code was linked with Shopify so when they get that coupon Code in their email they can go to Shopify and get a free product from the Shopify when they buy it from Shopify or Get it for free because they have the Code then it notifies printify printify Takes a product they print it on Like it could be the logo onto the

T-shirt or the logo onto the cuff or What have you the type of merch you're Selling and then it would send it from Or Prince if I would package it up white Label send it for your brand to them and Then they would receive it within you Know a week so just from pressing and Roll or buying the product they were Immediately getting things on automation I didn't have to do anything but the Business was bringing more value to them And it really made them inclined to stay Subscribed they wanted to buy more so You know things like that really helped To build the community and if you can Set them up then it absolutely helps to Build your brand so the next one is by Far the most interesting and the most Lucrative and if you can set this up you Can absolutely have passive income the Thing is it's not that hard to do The work but it is you know going to Take a lot of consistency to do it so This is something called royalty nft so If you have let's say your nft that is Could be from the album from a single When people buy that nft they get some Of the royalties from your music so this Is really attractive because every time You release a song on web 2 and I say Web 2 meaning Spotify SoundCloud or Napster That song also has nfts associated with It and each nft is a percentage of

Ownership of the royalties of that song From Spotify Then that money you distribute it to the Holders of those nfts and they get a Percentage so let's say there's a Hundred nfts each one is 100 bucks and Each one is one percent of the royalties Of your new single so if they buy one at A hundred bucks Now every month or every Quarter you're sending them a percentage Of the royalties that you make on the Web too and that's something that will Not only provide them with passive Income and they'll want to buy but That's the whole reason is like they're Getting a lot of value out of it they're Going to want to promote your music and What's going to happen is your music is Going to grow exponentially faster Because all the people that buy to hold On to your royalties now want to promote Your music now they want it to grow and The flywheel really starts to kick in Where It's not just a label one soul-sucking Small entity that holds everything And they get to decide how they promote The music note all your fans own your Music and that's where it becomes much More effective for the growth to take Place on many different channels it also Could be an attractive investment for

The people that are Wanting to believe in you and and they See the potential success in your career That they would love to own a piece of That success and so that's where you Know having your music out in the form Of nfts and the nfts are percentages of The song that those entities are Representing is very powerful for the Long-term success of your brand and also The future earnings of your career You're going to see a lot more Traction for your fans and for you if You're able to offer something like that The systems we've set up have not been Like fully automated But we've definitely been able to Implement some systems that artists have Been able to pay out to the holders of Their nfts and they've worked fairly Well From A business side they're pretty boring And they take some tedious work of going In and taking the royalties that you Made from your streaming and then Sending them out to the holders of the Axes but from A long-term perspective you know they're Huge and could absolutely help your Career grow so I I do think that that's Something that you should do whether It's individually or with other artists Now there's so many different

Technologies that are coming out tonight We'll be covering some of the top Sources that you can find for offering These systems and being able to set them Up to create your passive income and if You would like to see those things do Subscribe if we get a hundred likes on This video let's say 500 likes on this Video then I will go ahead and create This same video but within each idea It's going to share with you exactly Which softwares you can use or exactly What setup you need to implement in Order to make each one of these ideas Work uh I feel like right now you have Enough to run with but I would be Interested in going in detail and maybe Doing a tour with some of the projects That I've done that have implemented These ideas so if you guys do enjoy this Video do comment down below if you have Any questions and don't forget to check Out the three keys to music nfts down Below right now if you enroll in the Three keys to music nfts then you get to Talk with me one on one and 24 access to Our partners and our team to help you With your music nft Project the other thing that you get is Four to five hours of training videos we Got PDFs Excel sheets the best platforms To use there's also quizzes in there to Make sure that what you're learning is Going to

Actually stick in when you go out in the Real world and try and implement it You're not going to fall on your face But you can do it and it's called the Three keys because it goes into how to First plan your project and what tools You can use to Set the airplane I like to say to get The airplane ready to take off and then Actually how to create number two so Actually building the airplane and now You have your flight path and then Number three is some marketing actually Taking off and then you know basically Scaling that up and being able to do Your marketing to make more sales and You already have the project planned out And created now you just have to get People to it and that's in the step Three so for those of you that are Really serious about music nfts I Encourage you to check out the three Keys to music nfts down below thank you Guys so much for watching and I'll see You in the next one peace out

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