How do you make an NFT an effective music marketing tool?
by the MusicArt team
Facebook and Instagram are old-school marketing platforms and have recently lost a lot of heat. Neither Facebook nor Instagram will have an easy transition into Web3… And TikTok, although it's all-powerful, is more of a broadcaster than an engagement platform. The future of Web3 music marketing is NFTs... Not exclusively, but they will be an excellent start to the next generation of music marketing.
What is an NFT? In simple terms, an NFT is an immutable record of ownership linked to a digital item. It can make a digital thing rare or limited by "tokenizing" it. This is great for digital art and can make it valuable just by being rare.
However, what we really need for an emerging artist is the utility of an NFT. ...A tradable certificate of ownership… Because an ownership certificate will help turn an ordinary fan into a super fan with privileges. And that's precisely what we, at MusicArt are here to do.
If you're a new and emerging artist, your NFTs will not fetch millions of dollars at auctions, or at least that's highly unlikely for now, but your NFTs will be a killer app for fans.
At MusicArt, we encourage artists to mint their existing artwork, to begin with. Artwork is a great marketing tool, even though it's been losing its importance recently because it's often no more than a tiny thumbnail. However, in reality, it's much more than that. For streaming platforms such as Netflix, the program's artwork is absolutely key, and they even apply AI to show the most effective thumbnail depending on who is watching. As a music artist, you want to make sure that your artwork is congruent with your music. With that in mind, of course, we would encourage artists to think about the creation of their cover art as a very important part of their release strategy.
Once you're ready to release, we advise you to mint your NFTs. Now consider your fanbase. How many people engage with you on Instagram or Tiktok regularly?
If you have a thousand people engaging with you, perhaps mint 100 NFTs of your artwork. Make them available in the marketplace. The price is up to you but don't make it prohibitively expensive. Say for a new and emerging artist, the equivalent of $20 is a good price.
On your Discord Server, assign a private channel for your NFT holders. Only verified NFT holders can join that channel.
Now start marketing your NFTs. If you are still pre-release, offer a give-away or a prize draw amongst those who pre-save your music.
Then, through the life of your campaign, you can use the NFTs by assigning value to them. All MusicArts NFTs are numbered, allowing you to assign "gifts" to individual numbers.
Here are some examples:
Announce on your socials that you're doing a private live stream on Discord for, say, 20 people and announce the "winning" NFT editions on socials. Only the holders of these NFTs can come and watch the stream.
Are you on tour? Announce NFT numbers who can come to the gig free of charge.
Announce a meet and greet for specific numbers. Of course, this may also just be a remote meet and greet via Discord or zoom.
Tell all your NFT holders they can buy tickets to your show first and/or discounted.
Offer your NFT holder exclusive merchandise.
Announce an exclusive free NFT drop just for NFT holders
Have a pre-listening party on Discord, just for NFT holders.
Have chat sessions/Q&A's/AMA with your NFT holders.
As your NFTs sell out, with every new artwork, you mint more NFTs growing your NFT club. Members can, of course, trade the NFTs, and the more popular you become, the higher the value of your NFTs. And you will always earn royalties when a fan moves on and sells their NFT. Why should they buy future releases? Because future NFT releases have their own values and potential gifts attached to them.
Now let your fans market your music and enjoy your Web3 Fanclub!
Published at 2/24/2022, 10:10:51 AM