In 2021, the music industry was rocked by a revolution. The NFT market exploded from a few $million/month to over $3 billion per month between January and December, with just over 1 million users. There is a proven demand for owning digital art of every kind.
Music videos is by far the most popular category of video on YouTube, which serves over 2 billion users per year. That’s 1/3rd of the entire online population in the world. Many of the world’s top songs have over 1 billion streams.
Meanwhile, metaverse concerts raked in millions of dollars in 2021 and created a whole new avenue of opportunity and creative expression for musicians to explore.
Combine the world’s thirst for music with an exploding market for everything digital, and you have the conditions for an explosion. The music metaverse market is set to explode in value from hundreds of $millions in 2021 to hundreds of $billions over the next decade.
Many artists have asked us lately if this is a game that only established artists and rich people can enter. Absolutely not. Over 60% of the money made in music NFTs in 2021 went to independent artists. And with the latest tech, it’s possible to involve fans at every price range, from free limited editions to priceless 1/1 pieces.
So as a musician hoping to explore these new worlds, where do you start? How do you reach your fans in the metaverse?
The best way to sell something is to build a community of fans who love your music and want to support you. That hasn’t changed just because new technology has come along.
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