Beginner's Guide to Music NFT
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November 19th, 2022

Basic conditions

First, you need to own an Ethereum wallet. Typically, we use MetaMask to create wallet. You can install the MetaMask plug-in in Chrome and follow the prompts to create a decentralized wallet. This is your key to web3.

Second, convert your currency into ETH, which is used as the generic equivalent in the Ethereum network in exchange for the NFT or other tokens you want.

Now, if you have plenty of ETH in your wallet, you've met the basic requirements.

Start collecting Music NFT

In this article, I use sound.xyz as an example.

Log- in

When you log in to sound.xyz, you will see "connect wallet" in the upper right corner, which will pop up when you click on it.

Select MetaMask login and confirm the login with your signature.

In the upper right corner, you'll find a randomly generated default profile picture that you can replace with the one you want and give a name. You can also authenticate with Twitter. Once verified by Twitter, a sound sales bot (@soundxyz_bot) will alert you when you buy a song you like on the secondary market.

Get Release Information

You can see upcoming drops in the "Upcoming Drops" section.

You can also follow your Twitter account below to get alerts for new music drops.

Free Mint

As a newbie, you can definitely start experimenting with the music NFT collection from Free Mint. When you find a Free Mint song, you will find that you are not eligible for Free Mint.

How do you qualify for presale? It depends on the artist, and different artists have different rules for distributing whitelists. Typically, the pre-sale whitelist is sound.xyz holding the artist's previous Music NFT. When a song drops, a snapshot is taken of the holders, who are whitelisted.

However, the public sale price of Edwin's song is also free, you only need to come to this interface at the time of release and join the music party, when the music ends, you can snap up this Music NFT. However, it is difficult to get a Music NFT for public sale, as sound.xyz already has more than 5,000 users registered. So you'd better get a pre-sale.

Obtain Pre-sale Qualification

The pre-sale price is usually lower than the public sale price. In the case of the sold-out LNRZ song, the pre-sale price is 0.02ETH while the public sale price is 0.03ETH. Also, I have participated in the public sale of LNRZ, and I have never been successful in the public sale. So to be whitelisted, that's a big deal. You need to get an LNRZ Music NFT before LNRZ drops new music.

Now the question is, how do you get LNRZ's sold-out music NFT?

The answer, of course, is to buy on the secondary market, but not on Opensea.

sound.xyz has built its secondary market, where the platform does not charge a 2.5% platform fee. As the seller, you will receive 90% of the proceeds and 10% will go to the musician. So more people are listed on the Sound Market. Click the "Buy on Sound Market" button and you can jump to market.sound.xyz.

You can get the floor price. When you own one, you'll be whitelisted for the next LNRZ release. Of course, depending on the musician or label's decision, it may be possible to change the condition of holding one NFT to two, or other conditions, over time.

Get Secondary Market Listing Information

You can follow @sound_listings to get the latest music NFTs listed in the secondary market.

Collect

You need to enter the collection screen at the time of release, and you have one song to decide whether to collect or not. When the song ends, the public sale begins.

When the public sale starts, you will see this interface. The price of each NFT is 0.03 ETH and the maximum purchase is 3.

When you click "collect", the MetaMask in the upper right corner will pop up the payment screen. You can see two parts of the money, one part is 0.03ETH, the other part is gas fees. The gas fees depends on how crowded the Ethereum network is. When the network is crowded, the gas fees is higher, and when the network is free, the gas fees is cheaper. So the money in your wallet includes not only the cost of the Music NFT itself, but also the gas fees.

Golden Egg

When a song is sold out, a random NFT is selected by the blockchain to generate a Golden Egg. This is a special cover of Music NFT.

Sometimes, the Golden Egg holder has an additional bonus, depending on the artist.

Annika Rose, for example, the Golden Egg winner will be airdropped a "Listening Room Curation Token" allowing them to curate four unique items included in my virtual experience listening room launching in January 2023.

Rewards for Holders

  1. You can get a pre-sale whitelist of the artist's later drops.

  2. You can access artist Discord and Telegram groups through guild.xyz.

  3. Other awards (depending on the artist)

In the case of Annika Rose, if you hold one of the following NFTs, you can go to Discord or Telegram groups and communicate directly with artist!The sale

Finally

After mastering this, you have the ability to collect Music NFT!

After that, I will share my experience and problems with me as an advanced guide! You can subscribe to my Mirror!

If you liked this post, you can collect it! After collecting, you can get a NFT of this article!

Collecting involves switching to the Optimism network. You can use a cross-chain Bridges to transfer ETH from one chain to another.

Guild Links for Some Artists

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