NFT Aren’t Just for Painters: a Review of DNS.xyz
Last month we talked about generative art, ASCII drawings, and 8-by-8-pixel artwork. Today it's time turn to write about music.
In this post, we discuss how musicians earn money, how the NFT music player DNS.xyz works, and whether it’s worth deleting Spotify.
How Artists Earn From Music
NFT digital art platforms are similar to ArtStation. There, artists share their works that can be downloaded for free for personal use or bought for commercial use, and the creator can be hired for a project. They have direct monetization: you pay and use a specific object.
The music market works differently. Spotify, YouTube Music, Soundcloud, iTunes, Apple Music, and similar services are all tied to listening. Their monetization is indirect: you listen to free music with mixed advertising, or you buy a subscription and listen to anything without advertising.
Artists’ earnings are affected by the type of music streaming service. In on-demand services, the user chooses the tracks to play. In non-interactive services, the user listens to everything in a podcast format. When calculating payments, the platform takes into account the number of listeners of the artist, the number of subscribers, the percentage of subscribers with premium features, how long the song is played, and other parameters.
For example, Spotify pays an average of $0.00348 per listening, which is three dollars per thousand. Artists’ earnings depend on the number of tracks released and the location of listeners. The Dead South, for example, earns $0.19 per listening. According to the analytics service Lound&Clear, the 67,000 most popular artists earned more than $5,000 per month.
You can get an income in three ways:
- become a curator of playlists: form lists of tracks and recruit subscribers;
- to perform tasks: listen to a song, write a review, or. subscribe;
- to publish music.
As for the aesthetic component, users prefer pop music, namely pop rap: on average, there are about 575,580 listeners per artist.
How NFT Players Work
On the home page, DNS offers several categories at once: new artists, DNS selection, recommendations according to your taste, the most liked tracks, and recommended artists.
The interface requires some getting used to. First, you click on the track, then press Play. The lower fast forward/rewind panel becomes active only if you started playback.
From the same panel, you can add a track to a playlist, like it, or go to the platform to buy an NFT. Clicking on three dots opens an additional menu to download the original track and its cover art, as well as to work with the token’s metadata.
Even though DNS didn’t opt for a Spotify-like monetization model, it still has curators and playlists.
Unique Features of DNS.xyz
We studied the platform, listened to the music, and made some conclusions.
First of all, covers are an important part of NFT music. DNS even added a “Created Art” section, where you can look at and buy covers. Even curated playlists are sometimes named after the cover art.
Second, most of the music is hip-hop and chill. Metalheads or classic music enthusiasts will spend a lot of time looking for distorted guitars or strings, but they also could explore new styles.
Third, the service has no restrictions or rules on downloadable content. Sometimes you get white noise or five-second recordings of phrases.
The idea of blockchain music is interesting because it combines several art directions. The visual context merges with the melody and the result is a powerful symbiosis.
While DNS won’t replace Spotify just yet, you’ll be able to find original and enjoyable tracks there. If you write music, with the help of marketplaces and DNS you can find listeners in the Tezos community and, in theory, earn more than on centralized services.
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