15 best NFT marketplaces for music
Did you know that the volume of NFT trading reached an unprecedented $44.2 billion in 2021? And the tendency clearly continues to grow. NFT marketplaces let creators sell different kinds of NFTs, ranging from artworks to even tickets. This list of the best NFT music marketplaces may not be specialized for music NFTs, but they are the best places to buy or sell them compared to other platforms.
NFT is changing the landscape of many art spheres – music included. This is a revolutionary way to digitally operate all sorts of music-related assets – from songs and EPs to cover art and exclusive drops. And if you want to be solid in regards to the ownership of your work and the profits it can provide, getting familiar with NFT music marketplaces is a great place to start.
Before we dive into our comprehensive list, here are our top 3 choices of the best NFT marketplaces for music:
What is the best NFT platform for music?
This huge decentralized marketplace allows you to trade your music (and a myriad of other digital items) in a secure environment where the platform itself does not hold ownership of your assets at any point of trading.
OpenSea has all you look for in an NFT music platform. It features an open, intuitive interface. OpenSea is an ideal marketplace to learn how to sell your music NFTs and reach more collectors. You can trade in more than 150 cryptocurrencies and through more than a dozen wallets.
Website link: https://opensea.io/.
2. Nifty Gateway
This NFT marketplace for music has a reputation for a more exclusive community – it is known for hosting rare releases and unique items. At the same time, it has wide functionality and is supported by the Gemini exchange.
An extra perk for those based in the USA: you can trade music NFTs with your credit or debit card – no hassle. You can enjoy a 0% marketplace fee discount when buying and selling NFTs from the platform’s partner projects.
Website link: https://niftygateway.com/
This NFT platform for music actually used to be a popular online community for musicians – so you’re sure to find people who share your passion here.
The platform offers an impressive content collection for potential investors and if you want to start selling your music, TuneGO is a great place to start reaching out to new audiences. Besides, the platform provides quality educational materials for NFT beginners.
Website link: https://www.tunego.com/
Before we go further, let’s take a little step back and clarify a couple of key points about music as NFT.
Can Music be Sold as an NFT?
In fact, this is perhaps the most thrilling and engaging way for a musician to profit from their art. When you sell your music as an NFT, the compensation you receive is not direct, and you secure the ownership of every musical piece you’ve created to avoid potential copyright issues. Besides, music NFTs are an amazing contribution to your visibility as an aspiring creator.
What are Music NFTs and How Do They Work?
NFT stands for “non-fungible token” – but you already know that, right? In simpler terms, NFT is a digital certificate that secures the ownership of an item or asset – in our case, this is music: a track, a score, an EP, etc.
This token can be traded between different parties, and the owner of the music NFT has the ability to control how their work is used upon being sold. Besides, the trading process is more direct, impartial, and secure thanks to blockchain technology.
A musician doesn’t risk giving up their ownership of the music NFTs of their authorship at any stage of trading.
More from our NFT marketplace series:
- Top 7 best NFT real estate marketplace websites/apps
- 6 best NFT marketplaces/platforms for Photographers
15 Best NFT Marketplaces for Music
List of the best NFT marketplaces for music:
- Open Sea
- Nifty Gateway
- NFT Tone
- NFT Showroom
- Illust Space
Now that you’re equipped with all the basic knowledge, let’s move on with our list of the best NFT marketplaces for music.
“Christie meets Instagram” – that’s how this NTF marketplace defines itself. Supported by major investors, this platform is now an exclusive community where musicians can effectively monetize their work by setting high prices for their assets.
Website link: https://superrare.com/
- A 10% royalty received by the musician for every secondary sale;
- The Offer feature: users can make an offer on an asset even if it is not currently being sold;
- Convenient Auction interface.
- High commissions;
- Only Ethereum is accepted as a payment method.
If you’re looking for (or offering) smaller, unique music NFT collections, Rarible is the place to be. The platform’s unique characteristic is the ability to receive RARI tokens for every purchase made. These tokens grant users shared governance rights in the marketplace.
Website link: https://rarible.com/.
- You can change the price of an already created asset for free at any point;
- Payments with debit and credit cards are available;
- A solid member community.
- The lengthy and complicated procedure of creating a wallet;
- Both sellers and buyers are charged a 2.5% fee for every transaction.
This NFT marketplace is designed specifically for music: you can buy and sell audio tracks and scores and easily establish ownership of your work as an artist through the platform interface.
Website link: https://nfttone.io/.
- Low minting fees;
- Artists can establish communities within the platform.
- Visual assets accompanying music (e.g. album covers) are not traded – only audio files.
This music NFT marketplace is home to many renowned musicians, although you can find rare pieces from less well-known artists and creators here as well.
Website link: https://makersplace.com/.
- PayPal is an available payment method;
- Great territory to connect with exclusive creators.
- A high transaction fee of $15.
Foundation is a fresh NFT marketplace that is known for its tight community and vibrant internal economy shaped by its members. Its exclusivity allows for higher prices and more effective monetization of your music.
Website link: https://foundation.app/.
- Active and popular auctions accessible to all users;
- 10% royalties on every secondary NFT purchase.
- You can only access the platform through an invitation from a current member.
Based on Hive Blockchain, this NFT marketplace for music and other types of digital art is easy to navigate and a great place for a musician to showcase rare pieces and unreleased songs.
Website link: https://nftshowroom.com/.
- Low transaction fees;
- Fast and simple accessibility to NFT trading for beginners.
- A relatively small selection of available assets.
Unique to its core, Decentraland is an NFT marketplace that focuses on creating an augmented reality that allows sellers and buyers to interact in the unified metaverse and exchange music and other NFTs in an engaging way.
Website link: https://decentraland.org/.
- An intricate and detailed digital reality interface;
- A separate section for music NFTs (MusicHub) within the platform.
- Music NFT trading is not as popular as other types of digital assets.
While it used to be an exclusive NFT marketplace similar to Foundation, Zora is now an open platform that empowers digital music creators. It is famous for its numerous auctions as well as its user-friendly interface.
Website link: https://zora.co/.
- Bidding is available in multiple cryptocurrencies;
- Physical items on sale along with digital assets;
- Users report confusing fee policies.
This platform has been running for more than four years, focusing specifically on empowering digital creators, music artists included. Flexible minting opportunities allow creators to keep the fees at bay, which benefits every marketplace member.
Website link: https://blockparty.co/.
- Provides the exclusive option of customizable drops;
- Multi-chain minting.
- The platform reserves the right to charge buyers additional fees (transaction fees, commission, etc).
This NFT marketplace is popular thanks to its wide variety of available assets for trade, including a great selection of music pieces. It offers various types of auctions for its vibrant user community.
Website link: https://mintable.app/.
- Gas-free minting;
- Swift customer support and useful guidelines.
- Users report some trading payments taking a long time to process.
A stylish gallery-like NFT marketplace for music and so much more. It has a large collection of various assets open for everyone to sell and buy. KnownOrigin also boasts an active growing community of creators eager to connect with fans and potential buyers.
Website link: https://knownorigin.io/.
- Offers top-quality assets;
- Creators receive 10% royalties on secondary sales.
- High 15% commission;
- ETH is the only available cryptocurrency for trading.
15. Illust Space
This augmented reality-based NFT marketplace is a unique platform that attracts innovative artists and buyers from multiple spheres, including experimental musicians.
Website link: https://www.illust.space/.
- Active auctions with multiple bidders;
- Easy wallet setup procedure.
- Users report a confusing, unintuitive platform interface.
Now that you have a comprehensive list of great NFT marketplaces for music, let’s run through some practical points.
How Do I Buy NFT Music?
First, find the platform that suits you and your music taste best. Pay attention to its accessibility: opt for open platforms to be able to choose from a wide variety of tracks and records.
Get a crypto wallet that supports NFT – there is a wide variety to choose from.
Exchange your fiat currency for the crypto of your choice.
Start buying NFTs!
How Do I Sell My Song on NFT?
As with buying music NFTs, choose the NFT platform that appeals to you first.
Get your crypto wallet capable of holding NFT.
Then list your song(s) and shape it into an NFT through the process of minting. Once it’s done, upload your NFT on the platform.
Voila! Start selling your music.
What is Music Industry NFT?
When it comes to the music industry, you can consider NFTs as unique collectibles musicians create and be parts of NFT record label to be able to monetize their work digitally. Unlike making profits from streaming platforms that often disregard less popular artists, selling your music as NFTs is an opportunity to level the playing field. Music NFT marketplaces allow both young aspiring creators and renowned music industry giants to participate in NFT trading across various platforms.