The BEST NFT Platform For Music In 2023

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.

Hey what's going on guys it's will Hopefully you're having a great day Today in this video we're going to be Going over the best nft music platform To use in 2023. I'm really excited to Share with you because I think it's Going to get you a lot of value for Offering your music on the blockchain And I also think that when you do this You're going to find that there's a lot Of research that's gone into making this Platform the best and hopefully can Reinforce your decision for using it and Coming up with the best platform I've Come up with five different criteria That each platform had to meet and this Came out to be the best platform based On these five criteria the criteria We're looking for was a great algorithm Flexibility in your offer royalties Whether it's second Market royalties or Sharing the streaming royalties to your Fans the best blockchains and of course The mainstream usability or Accessibility for people to be able to Go and use their credit card or is that Everyday person going to be to go buy These nfts and after going through all Of those things we came up with the best Platform if you guys get any value from This video make sure to subscribe and if I can get around 50 likes on this video That would mean a lot just a friendly Reminder for those of you that would

Like to learn with me one on one the Three keys to music nfts down below is a Great resource for you to get full Access to a Discord the ability to learn With me on a daily basis and five hours Of training videos to help you with your Music nfts if this video gets 50 likes Then anyone that comments down below is Going to be automatically entered in Order to win that program for free so if You'd like to just go comment real quick Then I can send you a message if you've Won or not at the end of this week so The best platform for 2023 when it comes Down to offering your music nfts is Openc now of course we've seen Universal Studios we've seen Warner Bros we've Seen billboard we've seen Grammys every Single day big Music Company become Involved and mint music nfts on openc But I'm going to explain exactly why and Exactly why you might want to check this Platform out for offering your music Nfts number one is algorithm which is One of the most important things when it Comes to having any platform where You're putting out your Creations Personally I wouldn't be on YouTube if I Didn't think there was a good algorithm And I might be able to reach people that Are actually interested in the kinds of Videos that I'm making and with openc They do a great job at doing that for You when you post your music you specify

The genre of your music and that's Really important because the people that Are interested in it will find it the Problem that that solves is just when You put music out you want to not have To work so hard to get it in front of a Bunch of eyeballs and they're doing a Great job of that I found that every Time I posted a music nft that it's Immediately gotten a few likes on it and A few views and ultimately every one That's been posting on a specific genre Has gotten some sort of eyeball traction When it comes to their project if it's Not a good project of course the Algorithm doesn't show it to many people But they've been dialing in it and I Think it's only getting better Technologically that's great for you to Know because if you're not anywhere else And you're only on open C you still have A chance to actually build an audience But where openc really excels is with Its flexibility number two is going to Be the flexibility in the offerings and That might seem a little weird like it's Music flexibility and offerings what's He talking about well guys one thing That you might want to know about nfts Is that first they have unlockable Content and utility meaning that when You put your music out there it's not Like they just go to listen to it they Might get access to concerts they might

Get access to a group chat they might Get access to something like merch or Some digital asset like an unreleased Version of the song and those are all Things that openc allows you to add when You add it in the unlockable content you Can also say things like this Rarity so Let's say you have a song and you have Five different versions of of the song As nfts and those versions each have Their own little characteristic that you Can actually specify and when people go To look at your entity collections for Their song that they like of yours you Know they might see oh this one's kind Of special because you know it has like A little action figure of him or it has You know a nice um unreleased version of The song on this one and you can add Little unique things Um that show up in the description for Them and it's a really cool way to Differentiate your nfts from each other And add a little bit of Rarity which Increases the value for people that are Collecting your nfts I think this solves A massive problem which is that a lot of Artists put their music out there but it Stops at the end of the song and really When it comes to any business and music Is a business you want to take people to Where they're getting experience in the Store but when they leave the store They're getting experience when they

Walk out when they go to tell their Friends and their family they're getting Experience and that's something that you Can provide by having nft music Available because people might like Listening to the song but if they go buy It as an nft and I'm going to get to why That's important the reason that that Might be valuable for them and more of An experience is they might get access To your concerts they might get access To a group chat or they might get Something out of joining and overall They can just get more value from your Music number three is going to be Royalties one of the complexities and One of the problems with royalties is That if I try to go find my royalties For the music I put out on Spotify I'm Gonna go look at BMI ASCAP I'm going to Go look at Sound Exchange I'm gonna have To check my distributor I'm gonna have To see mechanical royalties my mastering I'm gonna have to split it with people Maybe if there's other producers and It's always very tedious to go collect Royalties and any artist that's had any Money made from their music can tell you That wow they might have got some money They probably didn't get it all the Blockchain has an edge here where it can Actually provide more of an umbrella for Artists to make sure that all of those Royalties are kind of dribbling down to

Them first before getting distributed to All these third-party intermediaries What I mean is their smart contracts Written in the blockchain so when you Use openc you can specify that anytime Someone resells your music nft or Anytime someone goes and buys your nft From someone else after they've Purchased it from you you're going to Get a royalty every time it resells so Sometimes people might sell an album and Say an artist you sell an album and You're really excited about it you get It out there it's 15 Later on someone sells it to someone Else for twenty dollars the artist never In the past has ever gotten a cut of That second Market sale but nowadays With nfts and digital tracking from the Blockchain authentication and verifying Who the owners are of the nfts when one Of the pieces of art resells it Automatically gets paid back to the Artist and the original Creator opencs Implemented this and that's one of the Great Parts about royalties but there is One other royalty that's really Interesting when it comes to music nfts We've seen some of the biggest artists Implement this for example Alan Walker Did this a few months ago and what he Did was he created a project that Whenever someone would go and buy the Nft they would hold some of the

Royalties that are generated from the Songs that are on Spotify so something That's been really popular with nft Music that we've been covering on this Channel make sure to subscribe is that When you offer your music in a way that You have your song out on Spotify but Anytime it generates streams up portion Of those streaming royalties go and get Paid out to the nft holders of that song So let's say you have a song going on on Spotify you have five copies of the song So anytime that the song generates a Little bit of Revenue it gets paid out To the holders of the nft song problem Is is that it's not fully automated and A lot of artists are having to send the Royalties manually to the holders but Nevertheless there's been some great Artists that are that are implementing That strategy and also I think the Reward is is that that Gap is slowly Closing and it's going to become more And more automated for people to share Their streaming royalties with their Fans and the reward for artists is that The artist gets people that are invested In their career yeah they're going to Get some money up front from them buying The nft to hold on to some of those Royalties but the fans also get the Opportunity to make some money so They're always going to be wanting to Grow that song and that's going to be

Good for the artist career and that's Going to be good for the people that are Holding on to them friendly reminder if You're an artist on Instagram make sure To check out this video up here if you Click the link it will show you a Three-part series don't have to click it Right now just later on of how to offer Nfts on Instagram so there's a full Breakdown of how to do it how to connect Your wallet directly to Instagram and They just recently added that onto the Platform so it's it's been um quite the Journey and hopefully you get some value From that three-part series number four The best blockchain guys blockchain is The backbone of what makes or breaks a Platform and I really like the Blockchain implementation that we've Seen with openc they started out simply Just ethereum and ethereum is a good Blockchain it is extremely secure it's Never broken down let's say like it's Never just stopped working like some Other blockchains it is extremely secure The biggest challenge with ethereum is That it's kind of expensive to transact And it's also only around 10 to 20 Transactions per second But they have these um that's a layer One you know blockchain but they have These other Um These other platforms that are built

Onto ethereum one of the best tokens That's developed on the ethereum Blockchain is going to be polygon and Polygon is also available on openc Basically operates on the main net of Ethereum but it's its own kind of Transacting so so it verifies and and um Lets the transactions go through by Communicating with ethereum but it has Its own kind of chain and that allows For transactions to go much faster and They are super cheap so it's free for You to mince your music nfts on open C And when you use polygon or ethereum Ethereum is more expensive but polygon Um you know there's virtually no fees The other great blockchain that Personally I really like this is a Blockchain that I've created my own Token on it's called Enzo it's for a Music company here it's a business that We basically help artists offer their Music as nfts and I created a token for It and it's on the Solana blockchain if You want to get for free go check the Link down below uh there's just a free All you enter is your email address and Your Solana wallet and I'll send you it For free I'll send you a couple tokens But basically that token there is on the Solana blockchain Solana is a super fast blockchain it's About 50 000 transactions per second Versus the 10 to 20 transactions per

Second on ethereum but Solana is also free virtually it's less Than a penny per transaction so it's About it costs you about as much as you Get paid per stream so it's it's really Not a lot the difference between Solana And ethereum and why Solana is so much Faster Is because A Solana is based on proof of stake and It's very similar to ethereum in the way That it operates however ethereum is a Proof of work you might have heard of People mining their crypto that's Something people do with ethereum Because it's something that you can mind The proof of work that it's been Discovered that it's been mined and That's fine but the thing is whenever There's a transaction it has to go Through all these little nodes and has To go through all these little things to Basically verify the transaction it Takes a really long time and that's why It's such a hassle for the fees and for The amount of time it takes but Solana Basically because it's proof of stake It can verify extremely fast on the Network and it can transact much quicker Because there is staking that's involved And if there's a stake that basically Allows and authenticates the transaction To go through I don't want to get too Nitty-gritty into it but basically what

You should know is that ethereum is very Secure and it's a great blockchain that Millions of people have used it's just a Little bit archaic it's a little bit Slow and they're going to be coming out With ethereum 2.0 but it's actually not Going to change the transaction speed uh It's not going to change how fast it Transacts it's actually Um kind of unfortunate but that's not Going to happen for a while that might Until it speeds up it's probably going To be you know late 2023 maybe more uh Whereas Solana is already on the proof Of stake in ethereum is trying to Convert to the proof of stake that's all You really need to know is that ethereum Is great it is Um you can't go wrong with ethereum it's Secure Solana is very fast it's very Easy to transact however there has been Some times where the blockchain has gone Down the network has gone down for a few Hours so it's not maybe as sturdy as the Ethereum yet so that's why we still have Ethereum being the main player right but What you know is that you have access to The best blockchains on open C and you Can have someone pay for their openc nft Using their credit card live guys is Going to be that you have mainstream Accessibility you can share the links on Any social platform anyone could just Click on that link and immediately go to

Buy it it's very simple for people to Basically create a wallet and it's very Accessible for people to go and buy nfts Is it easy to listen to the nfts no it's Not that easy that's why I recommend and Encourage a lot of people to offer their Nfts on a streaming platform get the Exposure but also have that nft version Let's say it's called like the wooden Guitar right and you offer this song and You put it out and it's also you know Wooden guitar nft and so people can own The nft of the song that's already on Spotify it doesn't really take away from The value of the entity in my opinion I Think it just increases the value it Makes more exposure for the nft and Creates more of an audience for the People that like that song and I think It's good for that it's easy that's the Only downside of the accessibility but The problem with a lot of new nft Platforms it's hard to buy you like Click on a link you have to go through a Ton of Hoops in order to find the entity Whereas with openc you create your Collection you create your nfts and Anytime you you share them on social It's really easy for people to go and Buy them so that's why I like the Accessibility I think it's going to be The best platform in 2023 at this point But if anything comes out I'm gonna Definitely share it with you guys as I

Always do with new platforms thank you Guys for subscribing and for those of You that are interested in learning About music nfts on a serious basis and You would like to learn with me every Single day then I have my three keys to Music nfts down below basically it goes Into how to plan your project from start To finish how to pick the best platforms And create your music nfts on the Blockchain that you should for the Project that you're creating and then Number three how to Market your project And monetize your music with nfts and we Go into marketing strategies and how you Can provide more value with your And if those things sound good to you There's about five hours of content that You can learn from and also anytime you Have a question you can ask me a Question we do weekly q and A's and 24 7 I'm available to answer any questions That you have in the Discord so again For the three keys to music nfts you're Going to get five hours of training Videos you're going to get a Discord Where you can message me anytime and Message any other members that are in The group whether they are having a lot Of success with their music nfts or They're learning from their mistakes and You can also learn along the way with Them and then we have the weekly live q And A's if you have any questions about

Your project I can help you step by step To get your project out there anything That's going on with your music entities I can help you along the way so just a Friendly reminder you guys know that's There Simply take a look if you're serious About your music nfts then thank you Guys so much for watching I really Appreciate you all and I'll see you in The next video peace out

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