So the MozikNFT Web platform is live now, you have visited its platform, used its wallet, and have explored its vast library of tools and capabilities — eventually arriving at the thought of creating your very own music NFT.
NFTs are a work of wonder, but even in such cases doing the right thing for the wrong reasons can produce less-than-desired results. There are a series of thought processes that go into the production and sales of NFTs, and in this article, we’ll be covering the most important questions artists need to ask themselves before minting their music NFTs.
While most people have heard of them, few truly understand what they are or how they work. NFTs stand for non-fungible tokens; they are unique, irreplaceable tokens on a blockchain that represent data. Due to this nature, they are perfect for certification, as they cannot be copied or tampered with.
When minting NFTs, artists should define why they’re using them, and how to communicate that intent with their audience. Music NFTs can be utilized to create scarcity for example or to guarantee the authenticity of goods. While they can be used to provide copyrights, they’re hardly used for that purpose on a public and commercial level, but the matter should be disclosed nonetheless.
Thus, the use case must be conveyed with the audience to prevent any post-sales misunderstandings, and most importantly, to protect one’s intellectual property.
Upon understanding what an NFT is, an artist should determine their objectives for minting one — as their flexible nature prevents successful affairs that lack clear vision. As such, an artist should always ask themselves “why do I want to produce an NFT?”
During the era of traditional musical media such as vinyl records, cassettes and CDs, it was rather easy to produce works in limited quantities; such products carried serial numbers and some sort of anti-piracy measure that made original products easy to identify.
Enter the digital age and copying digital goods is as easy as ever, and producing limited edition digital goods, impossible. NFTs are lifesavers; they can be used to sell authentic goods, limited edition albums, personalized packages, signed artwork… the possibilities are endless.
The use cases of NFTs are limited only to the creativity and limits of the human imagination, and knowing how you’ll be using them can go a long way.
Choosing a Platform
With the rise in popularity of music NFTs — and consequently music NFT platforms — picking the right platform is crucial to the performance of an artist’s NFT career. The success of MozikNFT spawned numerous copies and imitations that lack originality or the full set of strengths that MozikNFT possesses.
It is important to pick a platform that is safe, decentralized, fair, and one that possesses an audience wide enough to interact with music NFTs of various genres. With over 10,000,000 users, MozikNFT provides the ideal platform for artists of all genres to mint and sell their music NFTs, take fair earnings, and maintain solid protection over their works.
As is common with most releases, promotions raise levels of awareness, and increase the likelihood of a successful launch. Whether an artist chooses traditional means of advertising, or more modern routes such as influencers, guerilla marketing or their very own social media accounts… efforts to inform an otherwise uninformed target audience can bear profitable fruits.
One thing to bear in mind is to also communicate all of the above points via the promotions as to not mislead the target audience. Fans should have a clear understanding of what the product does, how it performs and what its ownership implies.
A great deal of this article can be summarized with one word: understanding. It starts with the artist understanding their objectives, intent, the platform and the underlying technology in order to communicate their ideas to their audience in a clear manner, and to deliver a working product in a seamless fashion.
Mozik is a decentralized music NFT platform aiming to build a healthier and fairer music ecosystem. Through the decentralized NFT platform, Mozik adopts blockchain technology to register earnings through music copyright, super-star IP, and IP derivatives on-chain. All the participants in the music ecosystem, including creators, publishers, customers, and fans can fairly participate. Through Mozik’s platform, artists will be incentivized to create more and better quality music. With lowered publishing costs and higher engagement from music fans, all participants can share in the rewards, and create a healthier and fairer music ecosystem.