RELICSxyz was born out of the idea that music is a foundational component of your identity, be it virtual or IRL. This is the fifth in a short series of hot takes on how we see music and the Metaverse 🤝.

Check out our other essays on the transition of music from Web2 to Web3:

• Part One: How artists to earn a living wage through royalties

• Part Two: Why your musical identity in the Metaverse matters

• Part Three: How music will improve your experience in the Metaverse

• Part Four: The future of playing music & what it means for your Metaverse experience

Stay tuned for the next editions of our essays coming soon. Keep updated by subscribing via the button below.

In an era where technology reshapes the way we experience the world, a new frontier of possibilities has emerged, shaking up industries from entertainment to education: the Metaverse. A technology we here at RELICSxyz are all too familiar with, we believe we’re at the forefront of this evolution.

The Metaverse, often tied to the concept of Web3 - a decentralized virtual environment powered by blockchain technology, has indeed been a game-changer in digital spaces. However, it's essential to remember that the Metaverse isn't exclusive to the realms of Web3. The rise of user-centered platforms like Roblox and Fortnite has shown that Web2 - the current version of the World Wide Web, which emphasizes user-generated content, usability, and interoperability - is also a potent playground for the Metaverse's expansion.

Web2 platforms have been pivotal in popularizing the concept of shared, persistent virtual spaces that coexist alongside our physical world. These digital arenas provide an immersive experience, blurring the boundaries between the virtual and real, laying the groundwork for the Metaverse.

Moreover, these platforms demonstrate how the Metaverse can function in the present web infrastructure, providing a glimpse into the potential of a fully realized Metaverse in the future - a shared, digital space that is continuously alive and evolving, transcending the boundaries of Web2 and Web3.

In 2021, Roblox, a global platform bringing millions of people together through play, reported an astonishing 199 million monthly active users. The Roblox universe, composed of a myriad of user-created experiences, has been elevated by music's integral role. An engaging soundtrack can turn an ordinary in-game journey into an epic adventure, deeply influencing the user's overall experience.

Fortnite, an equally popular platform with 350 million registered users by 2020, uses music to set the mood and pace of gameplay, often employing celebrity collaborations for live virtual concerts. These statistics underline the potential for growth and opportunity within these gaming platforms.

https://twitter.com/RELICSxyz/status/1674078212106883072

To underscore the importance of music in these digital spaces, we can look at data from Roblox’s most notable live concert event, the Lil Nas X Concert Experience, which took place in 2020. With a total of over 30 million unique users participating live, the immense popularity of the event across multiple showings attests to the significant role music plays in these virtual environments

https://twitter.com/RELICSxyz/status/1676665891017363456

This further illustrates the potential music holds in engaging and attracting audiences in the Metaverse. Through technology like our music playing IDOLS, our aim at RELICSxyz is to create similarly compelling audio experiences for web2 virtual gaming environments that enhance player immersion, fostering a stronger connection between the user and the digital universe they are exploring. Stay tuned for interesting news as we develop into these spaces!

The intersection of music and gaming in the Metaverse is more than just an emerging trend; it's the next frontier of digital entertainment. With platforms like Roblox and Fortnite at the helm, we're seeing an unprecedented opportunity to redefine how we understand and interact with music. At RELICSxyz, we're excited to be leading the charge in this dynamic, ever-evolving landscape, creating unique, adaptive audio experiences that not only enhance gameplay but also define the very essence of the Metaverse.

Today, we’re thrilled to introduce the newest member of our ever-growing team, -wizard. -wizard is joining our team as the Head of Engineering at RELICSxyz. As a pioneer in the Web3 music space, we pride ourselves on staying at the cutting edge of technology, and there's no better person to help us do that than him. As you will learn, -wizard is one of the best developers in Web3 with a long pedigree of innovation. 

This week we sat down with -wizard to gain a deeper understanding of his background and learn a little bit more about his drive to advance Web3 music. Keep reading to dive deeper into all things -wizard, and don’t forget to pop into our Discord after to give him a warm welcome!

Can you please tell us a little about your background and how you discovered your passion for Web3?

My background spans across various industries, including higher education, insurance, wholesale banking, and healthcare, all with a focus on big data analytics. My passion for Web3 emerged upon realizing that a blockchain is fundamentally a decentralized database. As I started experimenting with Ethereum, I recognized the technology’s potential to revolutionize industries and establish genuine ownership.

My first experiment in web3 was an on-chain token swap platform, a precursor to Uniswap, which was later acquired by Dragonchain. There, I continued to develop additional experiments using their permissioned blockchain technology.

As the DeFi summer drew to a close, I co-founded Don’t Buy MEME, a project that blended NFTs, DeFi, and on-chain loyalty. We pioneered the idea of an on-chain loyalty system and that value could extend beyond fruit tokens, with NFTs serving as rewards for loyalty. MEME’s success had me dedicating hours to preparing new drops, leading me to realize the need for a scalable platform so that we could continue innovating with new mechanics. This realization coincided with Nifty’s acquisition of our technology, where I took on the role of CTO. At Nifty’s, I had the unique opportunity to collaborate with major players like Warner Brothers, Sony, Discovery, and HBO, helping them navigate their Web3 goals and crafting enterprise-grade systems to meet their needs

At my core, I am a builder and an experience seeker. Web3 has allowed me to merge these passions and build new experiences. Recently, I’ve been exploring the convergence of Web2 and Web3, taking Web2 concepts and augmenting them to unlock the true potential of NFTs.

How does your skillset contribute to your role at RELICSxyz, and what unique perspectives do you bring to the team?

Now that the distribution of NFTs has become commoditized, it’s time to focus on delivering what many projects have promised: utility and integration. I am passionate about turning the vision of a Web3 music player into a reality, and my experience building high-use systems will be invaluable in making that happen. My background in developing various NFT projects at the intersection of Web2 and Web3 will allow me to bring unique perspectives and ideas to the team at RELICSxyz. It’s time for us to build upon the innovation of NFTs as a technology and create products that enhance the way we interact with and use them.

If you could create the ultimate Metaverse music experience (with an unlimited budget), what would that entail?

It should go beyond simply recreating real-world events. Instead, we need to build an experience that immerses fans in the heart of the action and allows them to interact with music and artists in new and exciting ways. Millennials and Gen Z are driven by a desire for unique and memorable experiences, and they want to be entertained in innovative ways. To attract people to the Metaverse, we must provide experiences that surpass what can be found in the real world, rather than merely replicating it. The ultimate Metaverse music experience should enable fans to connect with their favorite artists and engage with music like never before.

How do you see the Metaverse redefining live music experiences and fan engagement in the era of Web3?

I envision the Metaverse as an integral part of the overall music experience, not limited to a virtual world experienced within a confined physical space. With the rapid evolution of AR and VR technologies, the possibilities are expanding. Imagine attending a music festival, wearing a lightweight headset, and being transported into the Metaverse. You would see those around you in their Web3 form and the festival coming alive—immersing you in the center of the action. Two-dimensional displays would instantly transform into 3D, allowing you to interact with the art around you and truly experience music. Your NFTs would act as keys, unlocking exclusive experiences throughout the festival and granting unprecedented access. I believe this future is closer than we might think, and it has the potential to redefine live music experiences and fan engagement in the era of Web3.

What initially attracted you to RELICSxyz, and how do you believe it’s revolutionizing the music industry and Web3?

Their innovative approach to revolutionizing the music industry through Web3 technology. As someone with a deep appreciation for music and a background in audio engineering, I am excited to contribute to a project that blends my passion for music with my expertise in the Web3 space. RELICSxyz’s focus on creating unique fan experiences and integrating NFTs into utility applications aligns with my own vision of the future of music and Web3.

If you could pick any musician from history (dead or alive) to collaborate on a RELICSxyz IDOL or RELIC, who would it be and why?

Definitely Freddie Mercury from Queen. He was an extraordinary performer with a unique ability to captivate audiences. His charisma, stage presence, and music continue to be loved by all generations. I would want to create a unique IDOL for Freddie Mercury with RELICS of Queen’s greatest hits. This collaboration would not only pay homage to his legacy but also introduce his timeless artistry to new generations through in new innovative mediums.

RELICSxyz was born out of the idea that music is a foundational component of your identity, be it virtual or IRL. This is the fourth in a short series of hot takes on how we see music and the Metaverse 🤝.

Check out our other essays on the transition of music from Web2 to Web3:

• Part One: How artists to earn a living wage through royalties

• Part Two: Why your musical identity in the Metaverse matters

• Part Three: How music will improve your experience in the Metaverse

Stay tuned for the next editions of our essays coming soon. Keep updated by subscribing via the button below.

It was Spring 2020. The entire world had gone into lockdown, and music festivals and public gatherings were a thing of the past. Artists tours were suddenly canceled without warning, and getting together with our friends IRL felt like a distant memory.

We turned to the internet.

Online platforms like Twitch and Discord exploded overnight, and parties were now being hosted online. It was peak Web2. We gathered with our friends on Zoom, and musicians who had previously been touring and selling merchandise suddenly had to seek out alternative forms of income.

This was familiar territory for Monstercat Co-Founder and CEO Mike Darlington; finding alternative sources of income for artists. Monstercat spent the previous 9-years bridging the gap between technology and music, by providing soundtracks for games like Fortnite and Rocket League. When the pandemic shift happened, Mike saw an opportunity to launch music NFTs. Indie artists suddenly had another income opportunity, that wasn’t just streaming their pandemic tracks.

Enter, RELICSxyz.

https://twitter.com/RELICSxyz/status/1457831489450565639

After two years of work RELICSxyz was launched in January 2022, and with it, its two core products; RELICS (fully-licensed music, more on this in a future post) and IDOLS.

Just like the Discman was to the CD, and iPods were to mp3’s, IDOLS are your music players for the Metaverse. When paired with RELICS, IDOLS provide the soundtrack for your Metaverse life, a feature that is becoming increasingly more important within virtual worlds.

We argue that the future of listening to music in the Metaverse doesn’t just need music NFTs, but also needs a whole new music-playing product. The Metaverse needs a sound system.

As virtual worlds continue to increase in popularity, it has become apparent that just like video games, the Metaverse is missing music, yes. But just like video games, the Metaverse is also missing a way to easily interact with that music. The Metaverse needs sound systems that give the player choice, control and creative expression.

In 2022 there were over 400 million Metaverse users monthly, with speculation that by 2026, 25% of people will spend an hour or more in the Metaverse each day.

At present most Metaverses utilize a looping track set by the builder that fits the vibe of the visuals, or just no music at all. That’s a lot of dead air.

Video games like Rocket League and Fortnite made the leap to full-length songs and playlists through the use of Monstercat’s diverse catalog of music, and gave the user unique ways to interact, control and customize that music. We envision the same future for the Metaverse, taken one step further, through our music-playing IDOLS.

Consider hosting a party in the Metaverse with your closest friends.

It may seem out there now, but we also never saw parties as a use case for Zoom and here we are…

When you host a party IRL you set the tone for your “environment” (aka your house or apartment) with your music. Most have a favorite streaming playlist or radio they put on their sound system, or some audiophiles even have a collection of records they like to play on their record players. The music that's played sets the mood for the entire gathering. While the sound system is usually something beautifully designed, a showpiece of our environment we flex to attending guests.

https://twitter.com/RELICSxyz/status/1619904484343439360

It is our vision that IDOLS become your Metaverse sound system for your virtual environments. And when not in use or “on mode”? They act as a unique piece of art designed by some of the most celebrated artists in Web3.

Currently IDOLS have the ability to be dragged and dropped into Metaverses like Decentraland, with more exciting integrations to be announced in the coming year.

Sitting around for hours on Twitch, “just hanging” with friends seemed like a far-fetched idea before the pandemic. Now? Standard cultural experience.

The leap into the Metaverse for most music-lovers isn’t that far away. We firmly believe that together, RELICS and IDOLS provide a solution for that growing demand for real-world quality music experiences.

Come experience your Metaverse sound system.

RELICSxyz was born out of the idea that music is a foundational component of your identity, be it virtual or IRL. This is the third in a short series of hot takes on how we see music and the Metaverse 🤝.

Check out our other essays on the transition of music from Web2 to Web3:

• Part One: How artists to earn a living wage through royalties

• Part Two: Why your musical identity in the Metaverse matters

Stay tuned for the next editions of our essays coming soon. Keep updated by subscribing via the button below.

For as long as there has been sound, there has been music. For as long as humans have inhabited this globe (or at least 3400 years), music has played an integral role in our history. It’s a powerful force. It can set the tone in any environment, and connect people on a deeper level.

Music can instantly transport us to a time or place, invoking powerful emotions, and dominate a story or our mood. When we think of stories and gatherings, music is perhaps the most significant element for setting the stage and energy for a moment in time.

Music is a boundless tool that can be used to create a peaceful and calming atmosphere, or to bring exciting and energetic vibes.

We believe this significant element must be emphasized for the Metaverse to truly reach its full potential. Utilizing music to create beautiful and unique spaces is perhaps the most important detail as it provides a vehicle for a user to feel connected, to explore and discover and to enjoy the fully realized experience of virtual worlds.

Music has the power to alter the atmosphere of a virtual space dramatically.

Research has proven that various types of music can drastically transform environments, similarly to how different pieces of art evoke different emotions. This makes it possible for users to create their own unique and tailor-made virtual spaces, based on the type of music they’d like to incorporate and how they want to affect the overall feel of the space.

We’ve already seen this with Metaverses like MONA’s Andromeda Arena and Fvckrender’s LVCIDIA. Both utilize ethereal type music to set a dream-like tone to their space. Other examples include Voxel’s Weed Bags of New York, where they feature a virtual art gallery that pairs music and visuals to create an immersive and interactive experience. By combining art and music, these virtual worlds can create an even more unique and engaging journey for users.

If you’re building a space in the Metaverse, you’re going to want music as a part of the experience.

https://twitter.com/tommoore515/status/1617752425196290048

Music can create a sense of community and togetherness in a virtual space.

Popular games like Beat Saber have been able to create a more interactive and immersive experience for players by adding music to their games. Players are able to signal coming events and actions through the use of certain songs and sound cues. This helps to further foster a sense of community identity within the Metaverse, and allows users to engage with one another in a more natural and fluid way (looking at you Rocket League).

If you’re bringing people together in your virtual environment, music should be the first thing you think about.

Music adds an extra layer of emotion to storytelling, something that the Metaverse will require.

It gives life to stories and creates an atmosphere of excitement and drama, making it possible for the audience to become fully immersed in the narrative. Music is essential for storytelling, as it brings out the emotions from within the story and helps to create a more engaging experience. We see this in games from our childhood like Super Mario Bros, The Legend of Zelda, and even Tetris. The same can be applied to virtual worlds today, and we believe our Metaverse-ready, music playing IDOLS are the solution to the lack of background melody in the Metaverse.

If you’re building a digital story, the soundtrack to that story should be where you begin.

https://twitter.com/wonspacemagic/status/1494174569627742208

Music has the power to alter mood and influence people’s emotions in a profound way.

Consider the type of music you listen to when cooking dinner, or when you’re feeling particularly melancholy. Music has the ability to evoke different emotional responses in a person. It can increase endorphins to create a happier and more relaxed state of mind, or even bring about negative feelings such as sadness and frustration. This becomes increasingly more important in virtual worlds where other senses beyond sound are no longer utilized.

The role of music in the Metaverse is essential.

Music can transform a virtual space, foster a sense of community, enhance the atmosphere of storytelling and edit your mood.

If we want to take full advantage of the potential of the Metaverse, focusing strongly on the influence of music is pivotal. Through the use of music NFT’s like our RELICS paired with our Metaverse-ready music playing IDOLS, the Metaverse will continue to become an even more immersive experience, allowing us to enjoy brand new virtual experiences we only once dreamed about.

Music is the future of the Metaverse.

RELICSxyz was born out of the idea that music is a foundational component of your identity, be it virtual or IRL. This is the second in a short series of hot takes on how we see music and the Metaverse 🤝.

Check out our first post on how we're tackling the transition of music from Web2 to Web3, all while providing a space for artists to earn a living wage through royalties here.

In the coming articles we’ll dive into the future of music in the Metaverse, the inevitable issues with music master and publishing rights (aka “copyright”) on the blockchain, relationships between artists & fans, and more.

Stay up to date on all of our blog posts by subscribing via the button below.

How do you express your identity? Do you dress a certain way? Have a secret handshake with friends? Hang out with certain people? Listen to certain bands? For many of us, music is one of the main ways we express our identity. It's a way to show others what we're into, what we believe in, and who we are. 

For some, music is a way to express themselves and share their stories. It can be a way to connect with others who share their love for a certain type of music, a collective type of dance, or simply, to symbolize with those who have experienced similar things. 

For others, music is a way to find themselves. To explore different parts of their identity that they may not have been able to explore in other areas of their life. And for some, music is a way to connect with their heritage and their culture.

When we think about music and identity, we often think about how music reflects our personal tastes and styles. This is certainly true regarding the music we listen to in our everyday lives. The songs we choose to listen to say something about who we are and what we're interested in.

https://twitter.com/NBCNewsTHINK/status/1597705460345364481

No matter why we love music, it’s always been a part of who we are. It is a foundational building block of culture and shared belief. And in a world where we are increasingly connected online through avenues like the Metaverse, music can help us find and connect with others who share our interests and values. It allows for a deeper level of personalization and immersion, and acts as a powerful tool for self-expression and connection within the digital realm.

When compared to our physical world, music will be even more powerful inside the Metaverse. It will to shape our identities significantly. Let us explain why.

Your Personal Identity and Music

Music plays a role in shaping our identity on a subconscious level. Studies have shown that the type of music we listen to can affect our mood and emotions. Upbeat, happy music can make us feel more positive and optimistic, while slower, sadder tunes can make us feel reflective and introspective, and loud music can make us purchase and move more quickly. Think about how important this mood setter will be in the Metaverse.

A soundtrack in the Metaverse is needed.

Similar to video games in the 90’s, virtual worlds are currently made up of simple looped background tracks. The ability to listen to music requires lowering the game audio which can impact your experience. What is Super Mario without the hop and slam soundbites? Eventually video games soundtracks made the leap from background tunes to iconic sounds of our childhood. We believe this is an inevitable future for the Metaverse as well.

It is needed to shape our virtual identities.

Music can be a powerful tool for shaping our virtual identities, as it allows us to express ourselves and connect with others in a unique and personal way. The music we listen to can reflect our personality, interests, and values, and can help others understand who we are and what we stand for.

Early use in games like Roblox and Fortnite have shown that users are willing to experiment with their avatar identity in extremely unique ways, and music has played a big part in that.

https://twitter.com/ign/status/1521444772547895298?lang=en

In a virtual setting, where our avatars don’t have the benefit of showing emotional or physical interactions, the music we choose to share can help us create a distinct identity. Beyond this, the act of sharing music with others can help to build and strengthen social connections, and can provide a sense of belonging and community within a virtual environment.

Profile picture NFTs (PFPs, or Picture for Proof) were the last darling of Web3, and we think music is next.

With some PFP collections like Bored Ape Yacht Club and Crypto Punks generating over 100 million dollars, the revenue is ripe for picking, it’s just who breaks in first that matters. But just like PFPs, we also believe that music NFTs are going to be much more fun when used inside your Metaverse life. Think about how bland your virtual worlds will be without music…

People collect PFPs as a way to represent themselves on the internet. Collectors use their PFP (i.e. Doodles) as their profile photo for Twitter, Discord, OpenSea, and more. PFPs have grown to even be used in the Metaverse.

By creating a unique musical identity in conjunction with their virtual avatars, users can stand out from the crowd and express themselves in ways that are not possible in the physical world.

At RELICSxyz, we believe that every avatar needs to find their Metaverse theme song.

Collective Identity and Music

There is no more powerful force in shaping a community than music. In virtual worlds, music takes on an even more important role in shaping our identities. It can play a central role in fostering a sense of community, and help to define the identity of those who inhabit the virtual spaces.

In massively multiplayer online games (MMOGs), players form guilds or clans that they play with regularly. These groups often have their own theme songs or anthems that help to bring the members together and foster a sense of camaraderie. We believe this can be applied to the Metaverse as well.

https://twitter.com/RLEsports/status/1554150291775406085

When we share our music with others, we are sharing a part of ourselves. Our taste in music says something about who we are and what we value. Musical taste is one of the many ways we signal our identity to the world. It’s a way of saying “this is who I am” without having to say it directly. Most importantly, the music we listen to with others forms bonds based on “this is who WE are”.

We are determined to create shareable music moments in the Metaverse. Our Metaverse-ready, music-playing IDOLS are our way to help you build virtual worlds, in stereo.

Experiencing music on a collective level can be a truly powerful and memorable experience. When a group of people come together to listen to and enjoy music, a shared sense of connection and community can be formed.

https://twitter.com/RELICSxyz/status/1525226484998164480

This can be especially evident at live concerts, where the energy of the crowd and the emotions of the music can combine to create an unforgettable atmosphere.

The same can be said for experiencing Metaverse performances. The music industry has embraced the Metaverse as a way to create unique and engaging experiences for fans, without the limitations of physical space. Artists are now using virtual worlds to host concerts, release new music, and even create interactive experiences for their fans.

Take for example Marshmello’s virtual concert in Fortnite. Millions of people from around the world were able to join in and experience the show directly from their homes.

https://twitter.com/MylesParrish/status/1424107461837918212

In these moments (even the virtual ones), music can transcend its individual components and become something greater than the sum of its parts, creating a shared experience that can bring people together and foster a sense of belonging and unity. This is also known as collective effervescence.

Music has proven to be an important part of identity in both the physical and virtual worlds. On a personal level, music is an important means of expressing oneself, allowing for a connection between individuals and the outside world. On a collective level, music is used to bond people together, to create a sense of community and shared experiences.

On a more general level, music is a unifying force that helps to bring people together and create a sense of shared identity.

With its vast array of virtual spaces, the Metaverse presents the perfect platform to further explore the connection between music and identity on all levels.

Come find your Metaverse theme song.

RELICSxyz was born out of the idea that music is a foundational component of your identity, be it virtual or IRL. Our core belief is that future musical identity will be most powerful within the Metaverse. This is the first in a short series of hot takes on how we see music and the Metaverse 🤝.

In the coming articles we’ll dive into the future of music in the Metaverse, the inevitable issues with music master and publishing rights (aka “copyright”) on the blockchain, music as an identity, relationships between artists and fans, and more.

Stay up to date on all of our blog posts by subscribing via the button below.

Music labels are currently making more money than ever from streaming. However, this money is very top heavy, favoring larger, mainstream pop culture artists. After heart-and-soul effort, smaller artists play a dangerous gambit, trying desperately to breakthrough into the top-tier of stream counts and playlists. While this may be beneficial for high volume artists, this isn’t a good fit for everyone.

Enter, music NFTs.

Music NFTs (which are a part of the larger Web3 ecosystem) offer small artists the chance to live off the support of a small loyal fanbase. Instead of needing 100,000 fans generating 1 cent each, artists can have 100 fans generating $10 dollars each. It isn’t just about income though. It is also about the artist’s ability to grow their fanbase.

https://twitter.com/Cooopahtroopa/status/1575189773777481728

Music NFTs also give artists direct access to their fans (in the form of a wallet address), more predictable income (meaning the artist can invest into their project with less risk), and allows the artist to earn enough income to avoid signing their master and publishing rights away (if they chose to stay independent).

Our project, RELICSxyz, is one of the companies tackling the transition of music from Web2 to Web3, specifically providing what we deem as “Metaverse-ready music and music players” (more on this in a future post).

Take this transition case study as an example:

RELICSxyz Season 1 artist, Glacier’s song Warriors did 200,000 Spotify streams in 2022 with 40,000 unique Spotify listeners and generated ~$750 in total streaming revenue. That same song as a RELIC generated ~$4,975 in primary sales revenue with 25 unique fans. Even better, the RELICS income didn’t harm or cannibalize Glacier’s Spotify streams. Better yet, some of his RELICS buyers discovered Glacier through RELICSxyz, purchased his RELIC, and now also listen to him on Spotify.

https://twitter.com/RELICSxyz/status/1590095008581185536

Here’s Half an Orange on how RELICSxyz drives new fans and new income streams:

“We discovered about 50% of our buyers off RELICSxyz were not Half an Orange fans until after acquiring a Half an Orange RELIC. Originally, we thought most of our RELIC buyers would be die-hard Half an Orange fans but were pleasantly surprised when RELICSxyz ended up being a driver of new fans to our music.” - Half an Orange, RELICSxyz Season 1 Artist

One of the benefits of streaming services in Web2 are the recurring passive royalties they payout to musicians. Because RELICS pay secondary royalties, Glacier receives passive income each time his RELICS are re-sold and traded by collectors. This allows the NFT revenue to be a long term revenue stream and not just a one-time payday.

“The initial payouts from the RELICS primary sales to artists are very exciting. However, secondary royalties are how musicians really build a sustainable income for the long term. It seems small at first, only receiving a small percentage of each secondary sale, but as they bring over their entire catalog to the blockchain it can quickly add up. I believe as an ecosystem we must protect this royalty system for artists.” - Mike Darlington, CEO of RELICSxyz

A lot of Web3 music narratives seemed to focus on removing streaming services like Spotify, Apple, and Tidal. Even in this article we are comparing Web3 vs Web2 music companies. However, based on our sales, we think there is a healthy market for both.

Users both want to collect music as NFTs, while also enjoying the convenience of an all-in-one streaming service like Spotify.

In fact, we found that the RELICS with the highest Spotify streams ended up selling for the highest amount on the secondary market as NFTs, showing a lot of marketing value (and of course, income) can be created for the musician by allowing them to have their music in Web3 and Web2.

This isn’t to suggest that companies like Spotify and Apple can’t integrate Web3 technologies and methodologies into their current products, but that musicians and fans win with options.

We see similar trends in the vinyl space, where many collectors of vinyls still enjoy the option of both playing their vinyl record or streaming it digitally.

https://twitter.com/DjakeNFT/status/1585073357586042881

So, how do artists benefit directly from the Metaverse?

The writing is on the wall, and the current NFT craze will shift almost exclusively to the Metaverse. We’re already seeing this with the most popular NFT collections, promising not only utility in the Metaverse, but actually building their own Metaverse’s too (cc: AkuCribs & Otherside). Hint: These both happen to be PFP projects.

Profile picture NFTs (PFPs) were the last darling of Web3, and we think music is next (more on this soon). PFPs are used as a way to represent yourself on the internet, primarily in Metaverses. We see a future combination of PFPs and Music NFTs used as your virtual identity as the magic potion. But also, when avatars gather, what will play in the background? Think how boring virtual worlds are going to be without music.

Use of music in the Metaverse will accelerate the requirement to own a Music NFT by your favorite artist, and perhaps discovering new ones along the way.

Let’s tally up a few facts about Music NFTs and Metaverse-ready music:

First, music NFTs treat artists more equitably than traditional streaming platforms, especially those with small, loyal audiences. Check.

Second, when polled about their interest in the Metaverse, the majority of Millennials and Zoomers put music experiences at the top of their list. Check.

Third, the Metaverse is being built to allow users to plug-and-play music NFTs? Check.

And finally, music lovers and fans have a long commercial history with collecting memorabilia (i.e. vinyls) and paying for songs in various traditional formats from their favorite acts, so long as those collectibles deliver a true music fan experience.

By connecting the dots on these various ideas listed above, one can see how the Metaverse is more than likely to increase the popularity of music NFTs, in turn, providing artists a greater opportunity to earn a living wage.

A couple quick examples on how we see this playing out:

• Metaverse Performances: In the near future, an artist can token-gate a small Metaverse performance, requiring each attendee to own a music NFT from their collection to attend. A combination of primary sales and secondary royalties may earn that artist $3,000 for their virtual performance for a single night, without the hassles of travel, and with only an audience of 100 or so fans.

• Metaverse Mixes: Music is a building block of a good gathering and great adventures. This will be no different in the Metaverse. Because music will be played in a large number of new ways, such as mixes emanating from a music player, played within a favorite gaming experience or as a passionate emote from our avatars, artists will have the opportunity to reward their biggest listeners in new ways. Did someone say music collectibles rewards?

• Free Mints: What if an up-and-coming artist offered 100 free music NFT mints of their new song to their best fans, rewarding each uniquely for their loyalty? Or instead, provided those free music NFTs to a range of eager and awaiting new fans, treating them to an exclusive virtual performance. That artist has now reached a wider audience, with a higher degree of fandom ownership than likely possible by releasing their song on a streaming platform.

https://twitter.com/DCLBlogger/status/1582250140038897666

Artists today make a majority of their income from in-person performances (repaying massive advances to music labels in the process, a story for another day). By performing in the Metaverse instead of going on tour, the artist relieves themselves from a vast amount of the financial risk, not to mention the well-documented physical and mental harm associated with it.

Plus, as a music fan, it’s a more fulfilling experience actually owning music from an artist you love. Ask anyone who grew up in the ‘90s, and they will tell you how important sniping a fresh CD from the music store was on release day.

https://twitter.com/AbelowRob/status/1585995202174783488

In the end, the combination of growing Metaverse adoption and integrated music NFTs will benefit the well-being and economic prosperity for a greater number of creators.

If streaming requires musicians to have massive audiences, music NFTs unlock a much smaller audience with a higher loyalty factor required - aka their 1000 (or 100 in this case) true fans. The Metaverse will only amplify this flywheel of fandom, providing the biggest music retail store ever imagined.

So, how does RELICSxyz support this next step in the world of Web3? The best way we know how - by amplifying the next wave of the music NFT movement. The next phase of RELICSxyz will see a wider range of musicians and visual artists than ever before, with the likes of Raf Grassetti (Art Director of Sony’s God of War franchise), and few other yet-to-be-released names.

We’re still a long way from mimicking the feeling of finding your favorite artist's album at a record shop, or hearing the first guitar string over stadium speakers, but we’re closer than we’ve ever been. And while we adventure into the future of music in the Metaverse, at least you can be sure artists are benefiting more than ever.

We collected a group of investors who all believe in the future of licensed music in the metaverse.

Co-led by Coop Records and Palm Tree Crew Crypto, the round saw participation from, LongHash Ventures, Noise DAO, DegenDaVinci, DAO Jones, 2 Punks Capital, Mark Manginelli and a handful of prominent collectors and angel investors.

But this story includes more than just an investment announcement. It is the beginning of an ecosystem of music.

Here’s what you need to know.

RELICSxyz origins

RELICSxyz was born out of the desire to support art and culture…

The story begins inside Monstercat, a label renowned for its electronic catalog and innovative musician-first model. In mid-2021, as the cultural hype of NFTs began to bubble, Monstercat began releasing audiovisual NFTs on Nifty Gateway.

https://twitter.com/niftygateway/status/1352709167312732169

These collections included the first-ever Metaverse-ready music player, and a season of fully-licensed RELICS. Over the course of the past eighteen months, this Monstercat experiment included:

• 4300 NFTs

• 39 Collections

• $1M+ in Primary Sales

• $1.3M+ in Secondary Sales

Quickly, it was apparent the project required special focus and attention, and RELICSxyz was born in March of 2022.

The Metaverse music thesis

We believe that a musical atmosphere is needed in the Metaverse. While there are many companies and collections focused on releasing new music and redesigning music releases, there are very few tackling the problem of providing copyright-licensed music and music players for Metaverse worlds.

The RELICSxyz company focus is a simple, two-tiered strategy. RELICSxyz enables audiences to represent themselves with a theme song, and fill virtual spaces with song mixes. We do this with the release of two unique product types: RELICS and IDOLS.

What are RELICS and IDOLS?

RELICS are our music NFTs, playable visual music records.

RELICS upgrade over time using a dynamic property that represents a song’s performance - the equivalent of a “Platinum record” in Web3.

RELICS Season 1 was released in February 2022 with 50 unique RELICS, each with 30 total editions. 1,500 RELICS were sold at 0.08 ETH per NFT. View the collection here.

IDOLS are virtual record players.

RELICS play on IDOLS. This is similar to a song being played on a virtual iPod.

RELICS can also be played on their own, but for the full experience - we hope they will be experienced through an IDOL.

IDOLS are 3D virtual hardware.

264 GENESIS IDOLS were sold for $199 USD each, with some of the most renowned collectors in the space holding this utility token. View the collection here.

The next edition of the IDOL has yet to be released, and was designed by celebrated digital artist Raf Grassetti.

https://twitter.com/RELICSxyz/status/1533841903770226688

Where we’re headed

The $1.1M pre-seed round is our way of making RELICSxyz fully independent and further developing the ecosystem and world around it.

This financing will contribute to:

• The expansion of the RELICSxyz team up to a total of 7 full-time employees, expanding the core developer team.

• Redeveloping the RELICSxyz brand.

• Further developing the dynamic rarity system for music NFTs.

• Building a deeper catalog of full licensed music and art for use in Web3.

As it stands RELICSxyz is currently one of the only Music NFT brands that has an entirely fully licensed ecosystem, covering both the artwork and music. This is what allows RELICS to integrate so seamlessly into Metaverses that already exist.

The next phases of RELICSxyz will include additional (already confirmed) Seasons featuring some of the biggest names in Web3, along with special 1/1 mixes. These artists will bring a fresh feel to the brand, and will help diversify the genres that are already prominent within the RELICSxyz ecosystem.

We’ve also developed a pricing structure to make RELICS more accessible. It’s our hope that this will allow music NFTs to be collected by those who are not currently in the space.

Finally, RELICSxyz will officially be spinning out into its own independent company, breaking away from Monstercat.

RELICSxyz was founded within the innovation program at Monstercat, and will continue to be overseen by its co-founders Mike Darlington & Ari Paunonen.

To get involved with RELICxyz, follow us on Twitter or join the Discord.

We’ll soon be sharing more around Season 2, and look forward to getting feedback from all our holders.

Get to know our public investors

We are honoured to welcome a number of high profile Web3 investors to growing RELICSxyz including but not limited to:

Coop Records (@cooprecordsxyz) - Coop Records is an early-stage fund investing in the next generation of music. It’s led by Cooper Turley (aka Coopahtroopa) - a leading Music NFT collector, operator and investor. RELICS is the first formal investment made by Coop Records.

Palm Tree Crew (@PalmTreeCrypto) - PTC Crypto is an early stage venture fund managed by BlockchainBrett - a leading Music NFT and Crypto Art collector. The fund was launched in collaboration with Kygo and invests in the Creator Economy. PTC Crypto bridges crypto native relationships and thought leadership with mainstream cultural icons.

Noise DAO (@NoiseDao) - Noise DAO is a collective of artists, music industry vets, and investors with a shared belief that web3 can be used as a force to positively impact the future of music.  The group invests in music NFTs, innovation projects, and supporting infrastructure companies started by creative founders + artists

LongHash Ventures (@LongHashVC) - LongHash Ventures is Asia’s leading Web3 investment fund and accelerator collaborating with founders to build their Web3 model and tap into the vast potential of Asia.

2 Punks Capital (@2PunksCapital) - 2 Punks Capital is a seed stage venture firm managed by Stephen Sullivan & Jacob Martin, focused on the companies building the next generation of blockchain technologies and applications.

DAO Jones (@TheRealDAOJones) - A collection of DJs and degens who invest in companies, protocols and projects that unlock new frontiers in finance, Web3 and creator economy.

AB (@ABBBBBB_NFT) - AB is an NFT Collector, with focus on Epic, beautiful, historical, blue and utility/gaming.

Mark Manginelli (@MarkyMetaverse) - Mark is a Co-Founder of Ready Player DAO, North America's largest and most reputable Web3/Blockchain Gaming DAO in the space. He is also the Head of Growth at LandVault, the largest builder and developer of the Metaverse where they work with brands, companies and all Intellectual Property to create immersive businesses and experiences in Sandbox, Decentraland, Somnium Space, Cryptovoxels etc.

DegenDaVinci (@DegenDaVinci) - Web3 Angel Investor. Long-Term Games with Long-Term People.

Arben Kane (@Arben) - An arbiter in the world of technology and a relentless challenger against the limitations of the human condition. A serial founder and experienced entrepreneur with over 20 years of experience in technology & venture.

Andre Benz (@Benz) - CEO / Co-Founder of SoundMint, builder of Trap Nation & Lowly.

Brandon Kang (@BrandonKangFilms) - NFT Collector and event/travel videographer.

James Basnett (@jamesbasnett) - CEO of Shape Immersive, a metaverse studio that was acquired in 2022. Shape is an award-winning group that has worked with web3 leaders RTFKT (acquired by Nike), Star Atlas, Red Bull, and the Olympics. James is a co-founder of the Metaverse Museum and has been building metaverse technology since 2016.

Narcissus Ventures - Narcissus Ventures is a blockchain venture investment firm, focusing on the broad Web3 sector with a particular focus on infrastructure, interoperability, NFT and DAO.

Naveen Jain (@sparkart) - Founder and CEO of SparkArt. Y Combinator alumnus. Recently launched a Web3 company (y.at) and is an established leader in cryptocurrency and blockchain technology.

Sven (@sven_nft) - Sven is an avid NFT collector and investor, as well as being both a project founder and advisor. He is also a founding member of The Mad Pups along with other art-focused DAOs.

We’re excited to bring on a new wave of partners and look forward to sharing more on Season 2 shortly.

Here’s to Metaverse music!

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