Amid the brutality of the ongoing crypto slump, there’s one area of Web3 that’s failed to succumb from such downwards market pressure; music NFTs. The industry is already valued at a whopping $1.2 billion (approximately), where come 2032, it’s estimated to be worth around $4.24 billion (per Market Decipher).
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Although many may assume that long-lasting bear markets (such as this year’s) may be of detriment to such forecast, this may not actually be the case, as per stats from Web3 music platform Sound.xyz, music NFT mints appear to have doubled in each of the last two months, whilst December’s numbers are on track to trump both.
In addition, the past few weeks have played host to a flurry of music-related launches in the Web3, which is what this article will now discuss.
The ‘A Hard Working Man’ NFT Collection
Brought to.you by two-time Grammy winning producers ‘The Avila Brothers,’ Snoop Dogg, and Billy Ray Cyrus, ‘A Hard Working Man’ is a three-tiered NFT collection which focuses on the quintessential livelihoods of American people.
Here, the cartoon PFP NFTs illustrate Snoop and Billy Ray taking on several different ‘traditional’ job roles- whether that be a farmer, mechanic, or construction worker etc.
Along with their detailed and carefully crafted artworks, the NFTs are embedded with an array of music-related utilities based around the two icons, such as tickets to IRL and metaverse concerts, backstage passes, member events, limited-edition wearables, and future allowlist spots.
The collection- whose allowlist is now open- comes courtesy of Animal Concerts, a live events pioneer that's on a mission to revolutionize fan experiences and democratization in the music industry through leveraging Web3 technologies such as NFTs, virtual reality, and crypto.
To date, the platform has already collaborated with a number of big name musicians, such as Busta Rhymes, Alicia Keys, and Future.
Winamp’s World’s-First ‘Standalone NFT Audio Reading Player’
Nine years after its parent company ceased its activity, old-school Windows media player Winamp has announced that the latest update to its modern-day music streaming platform will allow users to play music NFTs.
Here, they will be able to link their MetaMask wallets to Windows 11-compatible browsers, to then play audio NFT files through the platform’s world’s-first ‘standalone NFT audio reading player’.
The feature is compatible with both Ethereum and Polygon NFTs, and is set to be updated further in January through the addition of a cross-platform creator service.
