As the speculative side of the NFT market cools, utility has become a decisive factor in the successful decline of NFTs. In the music industry in particular, where NFTs enable artists to unlock unprecedented opportunities for fan connection and collaboration, utility has never been more important. As explained by Adam Fell, co-founder of OneOf, a green NFT platform, NFTs upend the traditional role of fans as passive listeners and consumers. Now, in place of the typical Web2 fan club is a smaller but more powerful Web3 street team made up of the artist’s most sincere fans who align and inspire each other in the artist’s success. Ultimately, defining the right utility for NFTs is fulfilling those desires by identifying what the artist’s most loyal fans really want, and then going beyond those desires.
push the boundaries
Last year, we saw artists use NFTs to provide various benefits to their listeners. These serve existing fans while also helping to welcome new fans. Web3 early adopter Steve Aoki’s A0k1verse Provide fans with a set of on-chain and physical experiences, including free travel tickets and free mints to AOKI NFT and partner drops. Meanwhile, Masego, FKJ and Voidz have rewarded OneOf’s Tadow Collection holders with personalized videos, signed merchandise, virtual jam sessions and an official RIAA platinum record plaque. OneOf’s VP of Music, Thomas Fiss, now tells nft that the possibilities are endless, but to truly deliver a memorable and rewarding fan experience when developing a practical approach, the initial direction has to come from the artist himself. “Initially, we start with the artist’s vision and build from there,” he said. “But we’re also very aware that we have a responsibility to make sure we’re pushing the boundaries of what’s possible – in balance with our expertise. At this point, creative integrity and authenticity are also critical to any collaboration.” Integrity And authenticity is evident in OneOf’s signature The Notorious BIG: Sky’s the Limit Collection. As one of the most innovative NFT drops to date, it has had an overwhelmingly positive response from the community and still serves as a case study for those looking to replicate its impact.
The Notorious Big: The Sky’s Limit Collection. Source: OneOf “The series sold out in 10 minutes and allowed for community-based decisions on how to use a cappella in derivative works,” Fiss added. “Furthermore, revenue from future usage will go directly back to the community – where they can determine how the funds will be spent. More importantly, this drop serves as the North Star for the artist team to celebrate and conceptualize ways to add depth to their fans and legacy.”
Fresh Fruit from Doja Cat x JBL
OneOf’s latest collaboration is with another breakout star: Doja Cat. Since dropping her studio album in 2018, Doja Cat has quickly risen from TikTok star to global phenomenon, amassing more than a billion streams to date on Spotify. Fresh Fruit by Doja Cat X JBL NFT now has loyal fans around the world and is the perfect way to gradually and truly open up access to her community. Originally released in five installments in August and September, Doja’s Fresh Fruit series bridges the physical and digital worlds, culminating in a chance to participate in the highly anticipated JBL Fest 2022 return. JBL Fest will be headlined by Doja Cat and performances by The Kid LAROI, Bebe Rexha, DJ Tigerlily and world-renowned DJ and producer Martin Garrix from September 27-29 in Las Vegas. The collection includes 3D fruit-themed JBL headphones, cleverly conceived by Doja himself. Like most irreplaceable collections, NFTs are divided into tiers, each with increasing rarity, and are themed around Doja’s favorite fruits: blueberries, lemons, strawberries, oranges, and grapes.
Fresh fruit from Doja Cat X JBL NFT. Source: OneOf Each Fresh Fruit NFT offers tiered access to a range of JBL x Doja Cat events before (and during) the festival, as well as a variety of perks including discounts on JBL products, additional Fresh Fruit NFTs, and Win Holds Travellers and guests of JBL Fest. The giveaway also features two limited-edition eBay-exclusive orange and strawberry tiers, including a phygital card that unlocks special access to the Doja Cat x JBL AR simulation, free products, and guaranteed tickets for holders and JBL Live guests priority access ! 2022. Leveraging the liquidity and dynamics of NFTs, OneOf has exercised the ability to edit NFT metadata and develop the utility of the token over time, further pushing the boundaries of what is possible. The launch of JBL x Doja Fresh Fruit offers Planet Doja Genesis holders a new token utility, nearly a year after Doja’s first Planet Doja Genesis NFT went down. Now, they can fuse three Planet Doja Genesis NFTs in exchange for one of 77 variants of 2,500 Grape Fresh Fruit JBL NFTs. In addition to the unique Grape Doja Cat x JBL NFT, all holders will receive guaranteed access to JBL Live!, exclusive access to JBL events, phygital cards to unlock Doja Cat x JBL VR simulations, and to win diamonds Opportunity NFT. Holders also get early access and select discounts on iconic JBL products. All tiers are now available exclusively through the OneOf website and eBay, with prices ranging from free to $1,250. As part of OneOf’s mission to get more people on board with NFTs, all Fresh Fruit NFTs are minted on the Tezos blockchain and can be purchased with all major credit cards.
The future of utilities
As leaders like Doja continue to push the boundaries of innovation, artists across the industry are watching and finding new ways to use NFTs to supercharge their fans. While many recognize the power of NFTs as tools to connect with the community, few know where to start. The secret, says Fiss, is simplicity. “Simple. Simple. Simple. NFT projects should be simple, innovative, inclusive and affordable,” he shared. “More specifically, physical + digital is gaining a lot of traction. Specifically, exchange tokens can be traded or redeemed for physical items. Also, NFCOAs (non-fungible certificates of authenticity) that bind physical and digital are gaining a lot of traction. Big appeal. Specifically, exchange tokens that can be traded or redeemed for verified physical objects.” In the case of Fiss, we’ve seen how artists structure their work today compared to a year ago. different. As the hype surrounding NFTs begins to die down, artists and their teams are now prioritizing the long-term vision for their respective collections, ensuring that the initial drop is well-received, and that there is demand and community engagement for years to come. As for the future of OneOf, Fiss hinted at a greater emphasis on using NFTs as a small part of solving real-world problems. “I realize this is a bit of a mystery, but we believe the next chapter in the success story will ensure that NFTs provide problem-solving functionality while enhancing the fan experience.”