Revolutionize Music Marketing with Digital Collectibles | NFT Use Cases #1
Introduction: Digital Collectibles are harmonizing perfectly into the music world. Music industry players from producers, to artists, music festivals, labels, and more are all jumping on the digital collectibles bandwagon to build communities, engage with fans, and offer exclusive access and offers. This blog post will explore how music producers like Kix Beats, 3LAU, and Snoop Dogg use NFTs as digital collectibles to connect with their fans and provide insights and tips for music producers looking to launch a collection of digital collectibles.
Examples of Music Producers Existing Collectibles:
- Keyspace Studio Use Case #1 | Our imaginary example producer ‘Kix Beats’ (Kix Beats demo video launching Friday), recently launched an NFT collection called “The Kixperience Vol.1,” featuring a series of digital collectibles that fans can purchase to support Kix Beats and access exclusive content, events, and giveaways (example of a exclusive giveaway below)
- 3LAU’s NFT album, “Ultraviolet,” sold for over $11 million, featuring 33 unique NFTs that fans can purchase to own a piece of the album
- Snoop Dogg, who has dropped a few different digital collectibles, doesn’t just create them; he invests in them as he has done with his new investment in a web3 live streaming platform.
Benefits of Using NFTs for Music Producers: As a music producer, using NFTs (non-fungible tokens) as digital collectibles for marketing can provide you with various benefits. These include:
- Building a community of engaged fans who feel invested in your brand
- Offering exclusive access, content, and special offers to holders of your digital collectibles, such as exclusive giveaways (pictured below as an example from Keyspace Studio’s example: ‘Kix Beats’)
- Creating a new revenue stream by selling digital collectibles
- Generating buzz for a new song and revenue through merchandise and gamification of ownership can turn your digital collectibles into building blocks of brand loyalty.
Our previous blog post, “An Open Letter to Marketers,” highlighted these benefits and more. NFTs are a unique way to build trust with your audience and offer something extraordinary to your fans. Additionally, NFTs can provide valuable data and insights into fan behavior and preferences, allowing you to understand better and cater to your audience. Another neat example from the music industry is how the largest hip hop music festival in the world, Rolling Loud, is giving away lifetime VIP tickets to their ‘LoudPunx‘ holder.
How to Use NFT technology to Build Communities and Launch Successful Digital Collectibles: To make a community using NFTs, consider creating digital collectibles that offer exclusive access and offers, hosting events and giveaways for collectibles holders, and offering personalized experiences and merchandise. For example, in the case of ‘Kix Beats, ‘ all Kixperience collectible holders can attend the virtual event, but only ‘Kixperience Platinum Membership Pass holders can enter an exclusive giveaway. Or for Snoop Dogg, if all of his song NFTs sell out, he’s giving away his Snoop-mobile to one lucky holder.
If you’re a music producer looking to launch an digital collectibles, here are some tips to ensure your success:
- Set clear goals and objectives for the collection to achieve a larger purpose beyond just selling NFTs.
- Collaborate with artists and designers to create compelling digital collectible artwork that reflects your brand and vision.
- Collaborate with your brand to involve them in a unique, co-creation collaborative experience that can help drive interest and engagement.
- Leverage social media and influencers to build hype and generate interest in your collection.
Launching digital collectibles can be complex, but following these tips can create a successful NFT collection that engages your fans, builds a community around your brand, and generates new revenue streams.
Conclusion: Music producers are finding new ways to connect with their fans and build communities using NFTs. Keyspace Studio’s ‘Kix Beats’ example, 3LAU, Snoop Dogg, and Rolling Loud are some music industry players who have embraced them.