Before you begin
You need a wallet. You need a wallet to buy or sell NFTs on MusicArt. Your wallet’s important. You’ll hold your Bitcoin SV (BSV) currency in it, and you’ll need it to process transactions on the BSV blockchain.
Good news. When you register an account on MusicArt.io, a wallet will automatically be created for you and a unique wallet address will be generated. Keep that wallet address safe. You’ll need it to add Bitcoin SV to your wallet, and you need a wallet to complete your NFT purchases and sales.
MusicArt’s Digital Currency is BSV. MusicArt runs on the Bitcoin SV (BSV) blockchain and currency.
How to buy BSV. You have four options.
Option 1. From within your MusicArt crypto wallet. This is the easiest way to buy BSV. Simply go to your wallet account, click on Buy BSV, and fill out the fields.
The wallets supported by MusicArt include:
HandCash - https://handcash.io
MoneyButton - https://www.moneybutton.com
RelayX - https://relayx.com/wallet
Gravity Wallet - https://www.bitstocks.com/gravity
SimplyCash - https://simply.cash
Volt - https://volt.id
Centbee - https://www.centbee.com
DotWallet - https://www.dotwallet.com/en
ElectrumSV - https://electrumsv.io
AtomicWallet - https://atomicwallet.io
Option 2. Buying BSV with credit card —
You can also buy BSV with your credit card.
BuyBSV - https://buybsv.com
Option 3. Exchanges —
You can also buy BSV in exchange for real life currency on the following exchanges.
BC Bitcoin - https://www.bcbitcoin.co.uk - UK
Bitcoin.de - https://www.bitcoin.de/en - Germany / Europe
Bitvavo - https://bitvavo.com/en/bitcoin-sv - 27 countries supported in Europe
Bittrex - https://global.bittrex.com/home/markets
BTC Markets - https://www.btcmarkets.net - Australia
Changelly - https://changelly.com
CoinEx - https://www.coinex.com
DigiFinex - https://www.digifinex.com/en-ww/ - Canada
KuCoin - https://www.kucoin.com/markets
Switchain - https://www.switchain.com
Zumo - https://www.zumo.money - UK
Option 4. How to buy BSV with Stablecoins —
Buy USDT on Coinbase with USD or Euros
Transfer USDT to Fabriik Exchange: https://fabriik.com/exchange/
Minting an NFT. You can always mint an NFT on MusicArt, pay our setup fee in fiat currency, like US Dollars, Euros or Pounds, or in BSV, and then sell or auction your freshly-minted NFT in exchange for BSV. Read more about minting NFTs below.
Transaction history. The transactions linked to your wallet address can all be found on WhatsOnChain.com.
How tos / How it works
Welcome to MusicArt. We’re here to explain how to register your account, fill your new crypto wallet, and start buying, bidding on, selling, auctioning, and minting NFTs.
How to create a MusicArt account
Signing up. Click “Sign Up“ in the musicart.io header. Alternatively, you can directly click here https://musicart.io/auth/register.
Your MusicArt username
Be sure to choose a name you like, because your MusicArt username will be displayed on our platform every time you mint, buy, or sell an NFT.
Can I change my username? Yes, you can change your username at any time to any new username that’s not yet taken.
Previous mints and transactions. If I change my username, will my previous mints, purchases and sales be shown under my old username or my new one? They will be shown under your new username. But the username of a previous mint which is stored on the blockchain will not be changed.
Verification. After signing up, you’ll get an email asking you to verify your email address. Just click on that link, and you’ll be good to go.
Personalising your account. To personalise your account with a short bio, a profile pic, a background image, or links to your social media accounts, simply click on the “User” menu in the header, then go to “Collector Profile” and click on the “Settings” tab.
How to Mint NFTs. You can mint your own NFT on MusicArt without having any BSV in your wallet, because you can pay our set up fees in fiat currency. You can also pay our set up fees in BSV. However, you will need a sufficient amount of BSV in your wallet to purchase any NFTs you search for and find on MusicArt.
8 Tips for a flawless mint
Tip 1: Prep before you Mint
Whenever you mint an NFT on MusicArt, you’ll have to give the NFT a title, and share a short description of the piece. It helps to think both through in advance, and have them written down somewhere before you mint.
Tip 2: Know about the recording artist
We’ll also ask for the recording artist’s details when you mint. This helps buyers and bidders find NFTs. Before you mint, make sure you know who the recording artist related to the artwork is, because we’ll ask you their name. Have some images ready too, because we’ll also ask you to upload a background image and a profile image of the recording artist as well.
Tip 3: More is more
The remaining field are optional, but it’s always helpful to share more. Interested NFT buyers and bidders typically want to know as much as they can about the recording artist. Therefore, when you mint an NFT, we always recommend sharing links to the artist’s Spotify and Apple Music pages, as well as links to their social profiles, specifically Twitter, Instagram, Facebook, and TikTok.
Tip 4: Think about collections
MusicArt organises your NFTs into collections, so in addition to the title of the artwork, and a short description of it, we’ll also ask you to create, or select, a collection to put it in. If you’re creating a new collection, we’ll also ask you to choose a collection name. If you mint more NFTs later on, you can add them to an existing collection, or you can create a new one. Be specific with your collection names since every collection on MusicArt needs to be a unique one. Generic names like “hip hop art” or “EDM album covers” likely won’t be available for long.
Tip 5: Know what you want to mint: a one off or a limited edition
One of the most important decisions you’ll make is whether to mint a single NFT or a limited edition of, say, 25. When you think about the quantity (25, 100, or 1000 for example), keep scarcity in mind. If you mint too many, the resale market might be soft, as too many copies of the same art will be floating around. However, mint too few, and you could disappoint fans who aren’t able to buy an edition at the time of minting.
Tip 6: Know whether you want to auction or sell
Whenever you mint a new NFT, you’ll be able to choose whether to sell it (“Buy Now”), or auction it. Typically, auctions are best for one-off NFTs, and “Buy Now” is better for limited editions. With auctions, you’ll have to enter the minimum bid you’ll accept, whereas with Buy Now, you’ll have to enter the sale price. If, for whatever reason, you don’t want to start the sale immediately, you can set the status to “inactive” and decide later.
Tip 7: Know the difference between primary markets and secondary markets— and think about your royalties
Mint an NFT on MusicArt, and you’ll receive royalties every time that NFT is resold or re-auctioned, forever. What’s more, you’ll also get to choose your royalty percentage. This can be 10%, 15% or 20%, and you’ll get that percentage of the sales price as a royalty every time your NFT is sold on the secondary market. These are called secondary sales. Bear in mind that the royalties are paid by your seller. Too high, and you might depress the resale value as collectors aim for NFTs with lower royalty percentages.
Tip 8: Prep your files, and make sure you have all your details handy, including an active phone number.
When you mint, we’ll ask you for your name, your address, and your phone number. We’ll also ask you to upload the digital artwork image(s) that will become your NFT. The most common setup is one image (the front cover of an album, for example), but you can also add a second image that represents the back cover, a lyric sheet, or a personal message to fans. You can be as creative as you like with the second image. Each image file has a maximum size of 10MB, per image, and you can upload .jpg, .gif or .png files. If your new NFT is album artwork, you’ll ideally use the standard Spotify format of 3000 x 3000. If you want to mint a video or a sound file, then please contact us. We do this, but only for “Special Drops”.
Mint your NFT—
Once you’ve gone through the tips above, simply sign into MusicArt, click the “Mint” button or the “Mint” menu item, and you will be guided through the minting process.
When you start minting for the first time, you will see a blue notification. Click "Continue" to fill out your personal data and then you go on with minting.
The minting process, step by step.
First step? Enter the MusicArtist’s name. Remember that this is the name of the musician that the art relates to. It’s not the name of the photographer, designer, or artist that created the image, nor is it the name of the rightsowner, if the musician themselves is not the rightsowner.
You can select an existing one or create a new MusicArtist.
Step 2: Describe the details of your new NFT.
Step 3: Choose your royalty percentage. This is the commission of the sale price that you, as the rightsowner and minter, will receive every time the NFT changes hands—forever. Bear in mind that high royalty percentages can chill demand for NFTs.
Step 4: upload the digital artwork.
Step 5: Input the minter’s (your) details.
Step 6: before you check out, accept the Terms of Service for the NFT.
How to pay the minting (aka setup) fee. You can pay the setup fee to mint your NFT via PayPal or a credit card, or you can use Bitcoin SV from your crypto wallet. When you click on Pay, your digital artwork will be forever written on the blockchain, and the NFT will be created! The success popup will then display the transaction ID numbers and a link to the transactions on the block explorer.
How to Buy NFTs on MusicArt—
How do I fill my wallet? Simply buy BSV through your crypto wallet, or on a digital currency exchange (list below), and then send it to your MusicArt wallet’s address, which is a randomly generated set of numbers and letters. When you sell or auction an NFT on the MusicArt platform, your proceeds will automatically be added to your wallet.
How to Browse NFTs. Browse NFTs by going to the “Discover” page, then click on any of them to see more details. If it’s a single NFT, you can buy it directly on the NFT detail page. If it’s a limited edition of more than one NFT, click on the owner’s tab, where you’ll see all of the items in that edition listed there. If you want a special edition number, say #33 out of 100, simply scroll through the list and go to the respective item. If available, you can click directly on the “Buy” button, or if you want more info first, you can click through to the item’s detail page, and buy it there.
How to sell or auction an NFT on MusicArt
Selling info. MusicArt rights owners can either SELL/RESELL or AUCTION/RE-AUCTION their NFTs.
Here's how auctions and re-auctions work:
In a scheduled auction, the rights owner simply decides on three simple details...
The auction start date and time
The auction end date and time
The item’s starting price, in BSV
Starting price is just the minimum amount requested by the seller in order to kick off the bidding process. A bidder can not bid less than the starting price. Therefore, if you have just one bidder, your item will sell.
A scheduled auction may be cancelled prior to the start of the auction, for example, when it is counting down to ‘kick off’. However, once the auction has started, it can not be stopped, cancelled or undone. Be comfortable with your starting price. Rights owners that initiate scheduled auctions must be prepared to sell their works at that starting price, even if just one bid is received.
Timing of Auctions. If a bid is placed within the last 15 minutes of an auction, the auction time will be extended by 15 minutes from the time of the bid in order to accommodate last minute bids. The bid must be increased by at least $1.00 to extend the auction time.
Timed Auction Features May Be Subject to Error. Auction timing can sometimes be inexact on the blockchain. Auction timers only reflect an approximate start or end time in connection with a particular auction. Participants should get their bids in as early as possible to ensure that they are processed before the close of the auction. The system is currently running on 5 minute quantization, meaning the auctions can only end at 5 minute points or intervals, but these points are all clearly displayed to users. Since the function to end the auction can only be executed at 5 minute intervals, the auction ending time should strictly adhere to the time displayed.
MusicArt’s Auction Rules for Sellers and Buyers follow.
Rules for Sellers. As mentioned, the sellers decide on auction parameters such as start time, end time and starting bid price (in BSV). The artwork card then displays a timer counting down to the auction start. No bids can be placed during this ‘lead in’ period.
The auction starts at the scheduled time and the artwork page will also now display a timer counting down to the auction end. Bidding is only allowed for bids that, at least, match the starting bid price is the minimum bid amount. The seller will be notified every time bids are placed. If a bid is placed within the last 15 minutes of an auction, the auction time is extended to 15 minutes after the time of the bid.
When an auction ends, it closes automatically. The net sale payment is sent to the seller, a commission payment is sent to MusicArt, and a royalty payment is sent to the rights owner, if the auction is a resale.
Also, a new record of ownership is written in the blockchain, confirming that the buyer is now the new owner.
Rules for Buyers. When the auction begins, the artwork is open to bids. The buyer’s bid must meet or exceed the starting price. The bidder must pay with BSV.
If the buyer gets outbid, their funds will be returned immediately, however they can always choose to place a higher bid.
If a bid is placed within the last 15 minutes of an auction, the auction time is extended to 15 minutes after the time of the last bid. However, the bid must have, at least, increased by $1.00 to extend the auction time.
At the end of the auction, the auction closes automatically. The net sale payment is sent to the seller, the commission payment is sent to MusicArt and the royalty payment is sent to the artist, if it’s a resale.
Also, a new record of ownership is written in the blockchain, stating that the buyer is now the new owner.
What are crypto wallets? A crypto wallet is essentially a file that holds the codes that allow you store cryptocurrency—including Bitcoin SV, the cryptocurrency MusicArt is built on. The crypto wallet holds your public key, which people use to send you cryptocurrency, and your private key, a 256-bit number that you need in order to receive, store, and transfer your cryptocurrency.
How do crypto wallets differ from exchanges? An exchange is essentially what it sounds like: they are platforms where users can convert “real world” money, also known as fiat currency, like Pounds Sterling, Euros, or US dollars into cryptocurrency. Exchanges can also sometimes provide a wallet, but users don’t necessarily have full control of that wallet, as they would if they used a separate, third party wallet provider.
How do crypto wallets work? In reality, crypto wallets don’t store currency, but rather are a tool of interaction with the blockchain. Your crypto wallet either holds or generates the information needed to receive and send money via blockchain transactions. Crypto wallets come in many shapes and forms.
The three types of crypto wallets. There are three main types of cryptocurrency wallets, paper, hardware, and software wallets. Each wallet type gives the walletholder different features as well as differing levels of security protecting your cryptocurrency and your private keys. Popular software wallet options include Coinbase Wallet and MetaMask. When you sign up for and download a software crypto wallet, you get two sets of 42-character keys, a public key and a private one, as well as a wallet address. If it’s helpful, think of your public key and your wallet address as your bank account info. In real life, people commonly share this info in order to receive money, so you should also feel free to copy and paste your public key or wallet address when people ask for it. However, your private key is more like a PIN number or a password and should remain super private.
What’s the difference between a wallet, an address, and a key? Let’s break them down, one at a time.
Crypto wallets. Crypto wallets have been described as a kind of encrypted virtual keyring. A crypto wallet doesn’t contain actual money, but it does contain all the information needed to access your funds on the blockchain. A wallet contains your address, or addresses, and your public and private digital keys. In its simplest possible form, a wallet is nothing more than a file containing a database. That database can also be stored offline, since it just holds the wallet’s info, and doesn’t need a live connection to an actual blockchain.
Wallet addresses. A wallet address is simply a randomly-generated string of numbers and letters. That’s it. (By way of example, here’s the first Bitcoin address ever: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa). Wallet addresses are often compared to a bank account number. However, you can create multiple wallet addresses that all link back to the same wallet. You can and should feel free to share your wallet address with others. After all, other people will need it in order to send cryptocurrencies to your wallet. (Typically, all anyone needs to send cryptocurrency is the recipient’s public wallet address and the amount.)
Wallet keys. In addition to having (at least) one address, every wallet has two keys: a public key and a private key. Like the wallet address, public keys are also often compared to bank account numbers, in that public keys can be freely shared, and anyone should be able to send cryptocurrency to them. Private keys, on the other hand, should be kept private. Private keys are often compared to PIN numbers. They are linked to your public key, and the private key is what grants people access to the actual funds, which live on the blockchain. Therefore, NEVER, under any circumstances, share your private key with anyone. In fact, most people store their private keys in super secure places, like on a “paper wallet” —literally a piece of paper that has your keys and wallet addresses written or printed on it— or on a hardware wallet, which is sort of like a USB stick that has the wallet’s address and key information saved on it.
Why do I need a wallet to buy and sell NFTs on MusicArt? MusicArt is a tool that lets you interact with and transact on the blockchain. Our role is to provide a user friendly, music-focused platform for peer to peer exchanges of music-related NFTs. We do not hold (or “custody”) your cryptocurrency, nor do we don’t store your NFTs. Both live on the BSV blockchain. And your wallet is what allows you to interact and transact on that blockchain.
Do I need more than one crypto wallet? When you register an account at MusicArt.io a wallet will also be created. However, we recommend that you also install an additional wallet which you can use on your devices. Many People use multiple wallets so that their cryptocurrency holdings aren’t all in one place. Why? Think about a real life wallet. You almost certainly only carry a small portion of all the money you have in the world with you in it every day. Many apply the same principle to a crypto wallets, keeping only a small portion of their cryptocurrency holdings in, say, a mobile phone-based wallet, and leaving a larger amount in a more secure place—just like no one carries their entire life savings in cash stuffed into their physical wallet. You don't technically need an additional, third party wallet, but having and using one would help to mitigate the risk of hacking or theft.
What Crypto Wallets can I use with MusicArt? You can use any crypto wallet that supports Bitcoin SV (link to list at 18.104.22.168). If you’re wondering which crypto wallet to use, the best way to decide is to try several out yourself. There are multiple options available, and they all have different features.
So, to confirm, I should use one (or more) third party crypto wallets to store my BSV, and then a MusicArt wallet too? Yes. It's generally recommended that you store your BSV on multiple wallets, spreading your holdings across them.
What about “mining fees” or “gas fees?” You don’t have to pay any mining fees on BSV. (On Ethereum, these are called Gas fees). All mining fees are covered by MusicArt.