This week marked the one year anniversary of Coop Records - so naturally we went deep on what that meant and what we learned along the way. Read the article here.
Coop Records Anniversary
Coop Records is officially a year old. Here's everything we've done and learned about running an onchain record label.
In short - the vision for a community-owned record label has never felt more clear.
We've dropped over 300 songs from nearly 100 artists - and managed to rack in more than 250k mints along the way. But let's break down what that really means.
250k mints at an average mint price of 0.000777 ETH (the price of a free mint) is more than $500k of primary sales in our first year. For reference - that's about 135M streams.
In crypto we have a tendency to only regard giant numbers. Billion dollar protocols. Million dollar sales. 1000x tokens.
But what I've realized is that the Coop Records journey is a decade+ endeavor. It's not going to happen over night. Crypto always loves the shiny new thing but what we're building isn't necessarily shiny or new - it's the intersection of two worlds that have never really clicked (crypto + music).
All that goes to say that it really is a brick by brick business - but with a new twist.
This week - all 10 of the top songs on the Sound Viral Charts were Coop Records releases.
There's a lot of ways to interpret it - but this is representative of our next chapter.
We're starting to build out the Coop Records product world to bring our whole catalog home. A place where you can really feel and digest all our music and all of our artists in one place. And be rewarded for doing so.
That's how this works. Create a system where everyone genuinely shares in the upside and success of the label as a whole. It's not about one song, it's not about one artist. It's about the collective as a whole.
And we're doing it IRL too - best represented by our Midnight Diner series in LA.
Coop on Warpcast
Huge shoutout to everyone that came to the Midnight Diner last night. We got 100 people to create a wallet and collect a POAP for the first time. Turns out if you tell them they need a wallet to get free drinks it actually has a very high conversion rate!! Big ups to @coinbase Smart Wallet for making it extremely easy to register with passkey + Face ID - seriously made all the difference. Tomorrow we airdrop all the POAP and Midnight Diner Pass holders an edition of @33below headline set. See you on August 7th for the next one!!
One of our hottest rising acts 33 Below stopped by for a special set alongside Tesh and Moceans - two other Coop Recs artists.
We gated the free drink wristband behind an onboarding flow to download a Base Smart Wallet and collect a Midnight Diner POAP.
Midnight Diner II
85 + 8 ] Jul 3, 2024 | Los Angeles, United States |
Today we airdropped an edition of 33 Below and Tesh's set to everyone who attended - along with all 14k holders of the Midnight Diner Pass.
There's something special brewing - a world where crypto and music are deeply connected and a foundation for a passionate community of people into music to meet passionate people into crypto.
So here's to another year of growth. To exceeding expectations and to smashing through 1M mints.
There's much much more in store!
Just Dropped
wes mills - early days -- COD - So Much In Luv -- jigitz - let me go* -- Aly - DEE BAG [GOODIE BAG VOL. 2] -- NASAYA - WE COULD BE (with MARO) -- Vincent - All Night -- 33 Below - Midnight Diner II -- Moceans - Tip Toe (Ft. Georgiaxx) -- vaarwell - could you not go?
Did you know you can earn OP for collecting? Check out our custom Boost Inbox.
Join the club here.
Featured Drop
Collect a Free Edition here.
COD and Vincent joined the Coop Records family this week.
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You're all caught up! See you next week.
