NFT Drop 101: The Music Fund

Over the last few days, I’ve traded emails with “Dre” aka Andrew, the head of business development for Music Fund, a new NFT venture on the verge of launching. Below is our interview, edited for clarity. This article does not constitute an endorsement of their project and an encouragement to mint the NFT, but it does seem interesting and worth following. I have not personally decided yet if I will buy in, and was not compensated for this coverage.

Can you tell me a bit about The Music Fund NFT project?

MusicFund is an NFT community with a mission to support up-and-coming artists. Our goal is to build a sustainable community fund that helps empower a new generation of artists to create without the constraints of traditional funding models.

Owning a MusicFund NFT allows you to participate in exclusive events and vote on who the community fund supports. We provide artists with ETH grants to support their careers however they need, no strings attached.

We’ve seeded the initial fund, and proceeds from NFT sales will be reinvested into the community.

We have a lot of exciting plans in the works for the MusicFund community, from private concerts featuring artists supported by the community fund, to meet and greets, crowdsourced awards, and even exclusive metaverse experiences.

Music and NFTs seem like a natural pairing, and we’ve seen a few other music-based NFT projects popping up recently with Record Shop and Tools of Rock. What’s unique about The Music Fund’s approach to NFTs?

We’re most excited about two things: using our fund as a means to support some talented rising artists and creating a music-focused community in the web3 space.

As a team of musicians, designers, and creatives alike, we believe in a world where everyone is able to pursue their creative endeavors, and we see MusicFund as an opportunity to tackle some of the challenges new artists face navigating the music industry.

And, we’re super excited to be doing this as a community effort. We’re a bit biased, but we see immense potential for web3 and NFTs to change the music industry, and we want to build a place where music and a new internet can come together.

Disrupting the music business and supporting up-and-coming artists in new ways is an ambitious mission. What makes you and your team qualified to take it in? What’s your background?

We’re a team of designers, engineers, and musicians who are passionate about the intersection of NFTs and music. We’ve spent years working in the creator economy at startups and big tech companies (like YouTube) and are keenly aware of the challenges that come with the space.

We’re excited about the potential for NFTs to change how art is funded and have ambitious plans to build web3 tools for artists and their communities — MusicFund is just the beginning.

Are there any musicians you’ve already connected with and onboarded? How do you pitch it to them?

Yes! We’ve got our inaugural lineup squared away and we just announced our first MusicFund artist, KOAD, who we’re super excited to have as a part of our community.

He’s an insanely talented artist/producer/writer from LA who exudes creativity and moxy and we think it’s only a matter of when he blows up at this point.

It’s also worth mentioning we’re in discussions with a few blogs about curating lineups together, so we’re looking forward to developing those partnerships as well.

As for the pitch, it’s super straightforward — really just “hey we love your music and would love to support you with our community fund if you’ve got any interest.”

From there all we ask for is a bit of information to share with our community and then the rest is up to the people to decide.

As things develop, we see joining MusicFund as a great opportunity for artists to both support themselves and tap into an engaged community of thousands of potential fans. Conversely, we want it to be a place fans come to engage with and support the music they love in true web3 fashion.

What are a few big goals you and the team have for the first months, and year, of this project? Beyond that? Festivals? Grammys? What does winning look like?

In the immediate future with our upcoming mint, we’re beginning to cultivate a space where web3 music lovers can engage with each other and support some talented artists. Ideally, as that develops we can really put gas on the fire with offerings for MusicFund members and artists alike.

As we move forward, we’ve got a few big plans on the roadmap including metaverse events, a private in-person concert hosted for MusicFund members, industry panels, support systems for artists, and tons more.

In the long term, though, this is all about community for us.

It’ll be a win in our eyes if MusicFund isn’t seen as an “NFT project” but rather a place where we can all go to love music together. I remember back in high school when I used to surf blogs for hours to find some crazy unreleased bootleg remix of a song just so I could show it to friends at school the next day, and that meant a lot to me.

I think that energy has gotten a little lost over the years recently and it’s my most sincere hope that we can help bring it back a bit with MusicFund.

What are your five favorite bands ever, and your five favorite concerts ever?

So my taste is definitely a bit modern and mainstream, so music heads take it easy on me here. Like I promise you I know this is a super vanilla “all-time” list.

Favorite acts:
Kendrick Lamar
Justin Bieber
Travis Scott
J. Cole
Lido

Favorite Concerts:
Bruno Mars
Lido
Jay Z & Kanye — Watch The Throne Tour
Greta Van Fleet
Post Malone

When can people mint this and what will it cost?

Presale for our Backstage Pass holders is next week and general mint is going to be on Monday, October 4th, 2021. All minting will cost .05 ETH.

Website — https://musicfundnft.com/

Twitter — https://twitter.com/MusicFundNFT

Discord — discord.gg/AJn9qRQfHD

Thanks for reading! For more coverage of NFTs and NBA Top Shot, visit the Packrip Media homepage.

Packrip Media

Articles and podcasts from the NBA Top Shot and NFT community