What is Muse NFT? – Beginner’s Guide
- Serenade, a music NFT marketplace, collaborated with Warner Records U.K. to introduce a new music format called Digital Pressings, which is chart-eligible.
- Similar to a record, Digital Pressings are complete music NFT packages.
- On August 26, 2022, the English rock band Muse released their newest album, Will of the People, in this format.
What is Muse NFT? In this guide, we take an in-depth look at it.
So Why Does this Matter?
To my surprise, I found out that Napster and Limewire were merely the tip of the iceberg. A lot has changed in the music business in the last 20 years, but it’s still going strong as a digital industry with streams as the main source of income. However, a new album format that can be submitted to charts has finally arrived.
NFT marketplace Serenade and Warner records U.K. collaborated to introduce a new NFT-based music format, the Digital Pressing, in early August 2022. According to Serenade’s official website, each Digital Pressing comes with the album’s audio and artwork, a limited press run in predetermined edition quantities, supplementary material that can be added to the charts, on-chain royalties, and a collector’s module.
The English rock band Muse made headlines on August 26 with the release of their first album, Will of the People, in this innovative format. Within 25 minutes, all of them were gone. The record won’t be able to chart in the United States just yet, but it will have a shot in the United Kingdom and Australia.
— Serenade (@serenade__co) August 26, 2022
Matt Bellamy, lead singer of the band Muse, is no stranger to NFTs. In early July of this year, Bellamy dropped three brand new singles as NFTs, one of which was recorded on one of the late great rock hero Jeff Buckley’s guitars.
Fans of fellow English band Radiohead, who famously bucked tradition by releasing 2007’s In Rainbows as a “pay what you want” digital download, are sure to find this new development interesting as it draws parallels between the two bands.
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The Next Step
Max Shand, founder of Serenade, said in a press release that “Digital Pressings will be a game changer on the worldwide stage” because it gives musicians a chance to “provide their international audiences something truly distinctive and interesting.”
1/ Today we announced Serenade’s newest offering, the Digital Pressing. I thought I’d share what a Digital Pressing is, and our vision for its future 🧵
— Max Shand 🌳,🌴 (@max_shand) August 1, 2022
In a Twitter thread, Shand expanded on his goals for the Digital Pressing format, describing how he hopes it would let musicians all across the world have more control over the album releasing process. Digital pressings offer artists the chance to present their music in a format that is analogous to that of a vinyl release, but without the drawbacks of the latter. To add, these collectibles can be owned transparently and sold on secondary markets because they exist on the blockchain. According to the press statement, artists, copyright holders, and content owners would “accrue correct, eternal royalties” with Digital Pressings.
Digital Pressings may be significantly less harmful to the environment, and they also promise a much shorter turnaround time of two weeks (compared to the six to nine months needed for a vinyl release). The environmental impact of producing one standard 12-inch vinyl is “equal to 197,100 digital pressings,” as stated in a news release by Serenade. The press release is “44,000 times more efficient than a typical NFT release” and has “the low carbon footprint comparable to 1/10th of a Tweet.”
One physical record sale will be credited for each Digital Pressing of Will of the People and any other albums published in the future using this format. Sales information from the United Kingdom and Australia will be used for this test run.
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