tl;dr Summary: A new player in the town of generative music NFT, SoundMint, recently announced the launch of Vinyl, a digital access pass in the form of an NFT to its early adopters. But what is SoundMint, and could this be a project that piques your interest? Find out more here.
SoundMint, a generative platform for music NFTs, in a tweet on the 10th of March 2022, announced the launch of a new set of NFTs called SoundMint Vinyls specially created to reward early adopters of WE ARE KLOUD.
But what is SoundMint, and how does it generate music?
What is SoundMint?
SoundMint is a new player in the generative music NFT marketplace that currently includes the likes of EulerBeats and Audioglyphs, amongst others.
According to their website, these music NFTs are “musical compositions derived from stems, with varying acoustic properties, algorithmically combined to create a set of unique 30-second musical art pieces.”
A musician, instead of creating an entire song, creates stems. There is a stem each for bass, lead, drum, percussion, and vocal, which are algorithmically combined and paired with visual elements to produce unique audio-visual tracks.
Apart from this, each stem is also paired with one visual element and so in the end you get a unique audio-visual combination.
What does SoundMint offer?
SoundMint is an on-chain NFT project where the NFTs are stored on the Ethereum blockchain. This makes it much more secure, unlike OpenSea where they are stored in centralized servers.
It allows artists (musicians and visual designers) to spin out multiple unique audiovisual creations and not be limited to one song at a time.
Typically, when you create a song or a musical piece, you’re bound to what you’re releasing because you must stick with one final version. But when you’re creating stems for a generative project, you’re creating variation after variation with a more extensive consideration of the idea of limitless combinations.
— Paris Blohm, SoundMint Founder.
SoundMint intends to bring the artists and collectors together with a set of core offerings:
- A new medium for producing and owning art music.
- A platform to discover and connect with musicians.
- Sovereign ownership rights to production and distribution.
- Easy creation and sale through an inhouse production house.
Like other decentralized projects, SoundMint also plans to launch a DAO (Decentralised Autonomous Organisation) to bring the community together and engage in curating future drops with established and new musicians.
SoundMint’s road map has some interesting new features lined up to take on the big players in the space. These include:
- Launch of the Artist Map portal to collect royalties for artists.
- Create a music NFT marketplace.
- Enable musicians and artists to collaborate.
- Release a token.
- Introduce front-end tooling for creating NFTs.
What is SoundMint Vinyl?
Recently they reached out to their community and announced the launch of SoundMint Vinyl (see road map) to those who owned a WE ARE KLOUD NFT on 13th of March 2022 @ 12:00 PM EST (a.k.a a snapshot).
SoundMint vinyls are digital access passes in the form of an NFT. Owners will be able to use them as an “all-access” pass within the SoundMint ecosystem. Some of the benefits include:
- Exposure to Platform Earnings
- Governance
- Access to Exclusive Partnerships & Merchandise
- Priority Access to SoundMint Shows & Partner Events
According to the SoundMint team, “We chose this approach as it mutually aligns with collectors who value financial benefits as well as music fans who value physical benefits; although both essentially want the same thing.”
These vinyls come in three colors Mint (Common), Gold (Rare), and Onyx (Ultra rare). Eligibility to claim a specific variant depends on the holdings of NFTs accounted for at the snapshot.
SoundMint does seem to have the right idea. A combination of generative audio and visual NFTs brings musicians and artists together. Rewarding early adopters makes way for more traffic, creating a bigger space for creativity to grow and nourish, which benefits everyone.
