A Collectors View of Music NFTs
0x10a3
November 12th, 2022

A Collectors View of Music NFTs

Hi, I'm Hamburglar.

I have a great collection of Music NFTs on sound.xyz and I'd like to share my stories as a collector.

Foreword

I started paying attention to Chinese indie music in 2018, when the scene was doing pretty well, and I was completely immersed in the live scene of rock and rap. I would go to shows every week.

When the show was over, the lead singer would stay and sign records after, so I was always the first in line to buy a record after the show, and have the band members sign it.

It was the first time I felt a connection between musicians and the audience. The good feeling continued into the summer of 2019. A rock 'n' roll TV show exploded all over the country, and many of my favorite indie bands got a lot bigger, as the rising ticket prices and difficulty of getting a ticket made it impossible for me to watch their performances.

This was the moment when my previous enthusiasm faded and I had a desire to prove that I was an early fan of a certain band, so I came up with the idea of signing records.

I'd sell my old album collection on a second-hand market for double the price. I'd wake up the next day and someone had snapped it up and I needed to ship it. I realized then that a signed record was an important way to prove that I was a supporter of the early bands. And that fan credentials can be turned into revenue. The feeling is subtle, a bit like investing in stocks, and as the band's popularity rises, the price of their signature records goes up.

Music as NFTs

As time goes on, problems arose.

I had several encounters of damaged or lost records caused by express transportation. At the same time, I started to see an emergence of pirated records and fake autographs.

I was beginning to lose hope until one day in March 2022, I saw Snoop Dogg post his first Music NFT on sound.xyz. Collecting on sound.xyz gives collectors access to a limited edition of a song by an artist. Interestingly, a 1/1 special version of that song - called the Golden Egg - is randomly generated by the blockchain when it sells out.

This fits perfectly with a limited edition record. When you like a musician, you buy his records. But if his records are released in unlimited quantities, there is no value to be collected and the records become consumer goods.
I view collectibles and consumer goods as two completely different things.

I believe that only limited quantity goods have collectible value, which makes me feel that I am more of a real fan, while the value of consumer goods largely lies in the joy you get when you buy (and listen) to it.

Music NFTs solve two basic problems.

  1. They can't be broken or damaged in transport

  2. They can't be bought as a fake.

The solution comes from the unique properties of NFTs.

NFT as Music

In the Music NFT collection, you can access the works of outstanding artists from all over the world, not limited to the mainstream music software recommendations.

In the music field of web3, I found a lot of good music.

Grady, Mija, Reo Cragun and Daniel Allan to name a few.

For me, whenever I listen to Grady's music, it reminds me of the joy I had when I went minting at 3 a.m. More importantly, it helps me remember some of the events of the last two months.

Music has emotions, and everyone has different emotions to the same music. I think this is the biggest advantage music has over other PFP projects.

Music NFT Operating Flow

Current Music NFT Market

The current Music NFT market has a strong community atmosphere in a bear market. The connection between artists and collectors has reached a new turning point with low gas fees.

First of all, musicians don't rug. A musician's job is to create music for people to collect.

Secondly, music itself is valuable. On the one hand, it has artistic value. On the other hand, the collector's value and sentimental value is real, not invented.

Third, musicians can use Music NFTs as tickets which are reasonable and desirable to collectors.

These three points are enough to surpass most PFP projects.

Recently, Mija led a wave of early-morning sales on the West Coast. This is very friendly to Asian users (including Australia by FIFA standards).

During this time of day, gas fees are generally the lowest. If you're in Asia or Australia, I hope you can follow sound.xyz on Twitter and Discord for the latest news.

With web3, the concept of national boundaries became blurred. The whole market is open 24/7 creating an endless operation. The same goes for Music NFTs.

I hope more Asian and Australian musicians will join us. You can try to become a collector first, to experience this wonderful collection experience. After that, go release some Music NFTs in your time zone and find true fans.

While this article was purely from the perspective of a collector, I will release a future article explaining the advantages for musicians themselves.

Digression

Yesterday afternoon (UTC+8), Mija dropped an incredible song called "I'm With Hamburglar" on sound.xyz.

After I sent Mija a voice message and a selfie of myself the morning before yesterday, Mija created the song and posted it on sound.xyz. Although impromptu, this is the first Chinese-language track released on sound.xyz. Here, I would like to express my heartfelt thanks to Mija!

If you would like to collect one, I would be very happy and grateful to you. The link is below.

In addition, I also want to express my special thanks to Cooper and David for their help!

Get Involved

Thank you for reading, and if there are any Chinese musicians or collectors out there who would like to talk to me, please feel free to contact me on Telegram @Hamburglar_official!

Follow me on Twitter @0xHamburglar to stay up with my journey!

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