Non-fungible tokens rapidly shape the music industry and change how artists interact with fans, producers, labels, and other associated businesses in the Web3 community. Music NFTs are now among the most popular tokens in the market used to certify ownership of a piece of audio or video. However, you need to choose the right NFT marketplace for music to trade these digital assets.
If you don’t know where to get started, check out our top picks of the most popular NFT marketplaces for artists to sell their music.
Best NFT Marketplaces for Music – Our Top 5 Picks
1. Nifty Gateway
Nifty Gateway is one of the oldest players in the NFT music industry, catering to some of the top musicians in the industry. The Ethereum blockchain-based marketplace is the go-to choice for high-caliber artists and celebrities. Hence, it’s among the most challenging platforms to get accepted on.
The marketplace offers an auction-style interface where you can display your creations and allow members to bid on them. The platform will collect 5% of your earnings and around 30 cents on every secondary sale. Moreover, you can get paid in $ETH or fiat currencies.
Audius is one of the most popular music-only NFT marketplaces in the Web3 industry, with over 400,000 monthly users. It was launched in 2019 and built on the Solana and Ethereum blockchains. The platform offers a Spotify-like interface. Hence, you can stream and share music just as you would on any streaming platform.
Audius also allows you to sell your music NFT and generate revenue in $AUDIO, the platform’s native token, which can be exchanged on multiple Solana/Ethereum crypto exchanges.
OpenSea is one of the largest NFT marketplaces worldwide, offering a wide range of collectibles and tokens, including artwork, music, game avatars, domain names, and more. It’s also one of the few platforms designed specifically for creators on a budget since it doesn’t charge gas fees to users.
This Ethereum-based marketplace is an excellent place for aspiring artists and musicians looking to customize their music assets in a way they can earn royalties from secondary platforms. You can also find several big names on the platform, including Snoop Dogg and The Weeknd.
Opulous is a music NFT platform created by Lee Parsons, founder of Ditto Music, one of the market’s leading online music distribution companies. The marketplace offers a unique business model that allows both creators and their fanbases to earn $OPUL on the Algorand blockchain.
As a result, it’s one of the go-to options for musicians starting out looking to capitalize on the unique direct stake concept.
PlayTreks is a one-of-kind AI-driven NFT marketplace founded in 2021. Apart from offering a platform where users can create and sell music NFTs, it also provides extensive data related to licensing control, music distribution, and airplay analytics.
Moreover, the Polygon-based blockchain platform also provides actionable insights from popular streaming platforms and music pages/groups on social media for improved or accelerated decision-making related to new releases.
Eric Dalius is The Executive Chairman of MuzicSwipe, a music and content discovery platform designed to maximize artist discovery and optimize fan relationships. As the host of the weekly podcast “FULLSPEED,” Eric chats with pioneering entrepreneurs from diverse sectors. Through the “Eric Dalius Foundation,” he offers four scholarships to US students. Stay updated with Eric on Twitter, YouTube, Facebook, LinkedIn, Instagram, and Entrepreneur.com.