Metadata Intro
The music NFT space is disconnected from the music industry. Metadata in NFTs only accounts for the tradeability of the assets, and does not incorporate any data about how the IP is exploited in virtual environments.
In order to create future-proof NFTs, this metadata standard will support any music project to identify use, transfer rights, split revenue (whether to holders or to other rights holders), and offer a level of flexibilty that any IP holder will need in order to connect their web3 activity to the existing music industry processes.
Metadata structure
Music NFT metadata is divided in 2 connected layers: minimum standards for the creation of a single media NFT, and a secondary layer split in 3 key parts: tradeability, web2 song metadata, web3 metadata.
| Basics | Description |
|---|---|
| Minimum requirements | Basic and mandatory details for the creation of image based NFTs. |
| Attachments & Creators | Adding music files to the NFT & crediting each rightsholder/creator |
| Music NFTs | Description |
|---|---|
| Song metadata | Information required to link existing web2 information to web3. |
| Rightsholders | Data required for the exploitation of songs in any web3 environment (ie royalty collection, usage report...). |
| Licenses | Additional info to future-proof song NFTs. |
This standard covers every aspect needed to ensure rightsholder protection while giving flexibility to meet NFT community standards. Incomplete metadata will mean a step back in your efforts to future-proof your music.