Here Are the Biggest Music NFTs in October: Probably A Label, Mike Shinoda & Alan Walker
Written by djfrosty on November 1, 2022
Mainstream buzz around NFTs is fading, but the Web3 music space is quietly gaining momentum. Sales volume across the top 10 projects in October rose sharply for the second month running, largely driven by a high-profile drop from Warner Records’ new Web3 label and a new project featuring Linkin Park‘s Mike Shinoda.
Independent artists are also building strength, with primary sales doubling in October on Sound.xyz — the leading platform for independent drops — to a total of $200,000 according to Token Terminal. Meanwhile, last month saw a music project on the Solana blockchain enter the top 10 for the first time.
Total volume across the top 10 climbed 50% in October to reach 2,164 ETH. In dollar terms, the volume climbed 73%, hitting $3.38 million helped by the rising price of crypto. Based on analysis of sales data from 19 different NFT platforms, independent releases and secondary sales volume on OpenSea, here are the 10 biggest-selling music NFTs and collections in October 2022.
1/ Probably A Label
Monthly trading volume: 1,196.95 ETH ($1,873,226 at month-end conversion rate)
Primary sales (Oct.): 499.95 ETH
Secondary sales: 697 ETH
Drop date: Oct. 6
Probably A Label is the new Web3 imprint from Warner Music UK. It sold 5,555 NFT access passes at the start of October, minting out in seven minutes through an exclusive drop page on OpenSea. NFT holders will shape how the label is run, collaborate on the development of a virtual artist and even share IP rights in some future projects. “This is a vehicle for us to explore new ways of working as a label,” Sebastian Simone, vp of audience and strategy at Warner, tells Billboard. “We believe Web3 allows artists to create with more freedom and connect with fans on a much deeper level.”
The label is a joint venture with Probably Nothing, an established Web3 brand founded by former restaurateur Jeremy Fall. The team is now preparing the first airdrop for holders — a free music NFT featuring production from Diddy.
View the collection on OpenSea.
2/ SAN Origin
Monthly volume traded: 502 ETH ($785,630)
Primary sales (Oct.): N/A
Secondary sales: 502 ETH
Drop date: Sept. 16
SAN Sound is a project that aims to launch a Web3 music streaming service, using a “listen-to-earn” model where holders earn crypto tokens while streaming. It exploded to the top spot in September and remained strong in October through secondary sales.
Over the last month the project has encouraged holders to ‘soulbind’ their NFT — which ties it permanently to their wallet — allowing fans to access the streaming platform. Those that bind their NFT will also be eligible for a free airdrop of governance tokens enabling them to vote on how the platform develops.
View the collection on OpenSea.
3/ Secret Garden – “Wind Chime ft. Mike Shinoda”
Monthly volume traded: 153 ETH ($239,445)
Primary sales (Oct.): 114 ETH
Secondary sales: 39 ETH
Drop date: Oct. 12
Secret Garden is a unique beat making tool built on the Ethereum blockchain. Fans can interact with it by choosing which stems (drums, bass, synths) to activate until they find a beat they like. The project had some early success through collaborations with electronic producers Robotaki and Smle, but Secret Garden launched its biggest mint yet in October with Mike Shinoda.
Shinoda joined the project as an advisor and created the music stems for the latest Wind Chime collection. It sold 2,000 NFT players and went on to generate 39 ETH in secondary sales. Secret Garden is under the umbrella of the Capsule House NFT project which is among the most successful anime profile picture (PFP) projects founded by renowned digital artist Seerlight.
View the collection on OpenSea.
4/ KINGSHIP – “Keycards”
Monthly volume traded: 85 ETH ($133,025)
Primary sales (Oct.): N/A
Secondary sales: 85 ETH
Drop date: July 15
The Bored Ape Yacht Club band remains in the top 10 for the fourth month running due to strong secondary sales on OpenSea. In October, the project teased an upcoming airdrop where holders will get a free NFT or item sent to their wallet. Producers Hitboy and James Fauntleroy are still busy in the studio preparing music for the project.
View the collection on OpenSea.
5/ Blocktones
Monthly volume traded: 49 ETH ($76,685)
Primary sales (Oct.): N/A
Secondary sales: 49 ETH
Drop date: Sept. 16
Founded by Grammy-winning producer Gino the Ghost, Blocktones is a collection of 2,500 generative music NFTs. Each one was created using a random combination of music stems. One of the collection’s rarest NFTs, with production by Timbaland, sold for 5 ETH ($7,825) this month. The team also ran an experiment where holders could sign a non-exclusive license using their wallet to allow Blocktones to stream their NFTs on a YouTube radio channel. Holders were sent $10 back as a royalty straight to their wallet.
View the collection on OpenSea.
6/ Alan Walker & Ava Max – “Alone Pt. II”
Monthly volume traded: 46.6 ETH ($72,929)
Primary sales (Oct.): 35 ETH
Secondary sales: ~11.6 ETH
Drop date: Oct. 20
“Alone Pt. II” is among the biggest dance tracks in the world with almost 500 million streams on Spotify. Now, fans can own a small piece of the future streaming royalties. This is the third drop launched on rising platform Anotherblock.
The company typically partners with a songwriter or producer to unlock a small percentage of a song’s streaming rights. In this case, the ownership share comes from The Very Good — the publishing company behind many of Sweden’s biggest songwriters. “The Alone Pt. II” drop offered 500 editions, each granting 0.001% of future streaming royalties.
View the collection on OpenSea.
7/ Daniel Allan – “Glass House Remixes”
Monthly volume traded: 35.02 ETH ($54,806)
Primary sales (Oct.): 9.9 ETH
Secondary sales: 25.12 ETH
Drop date: Oct. 20
Independent artist Daniel Allan first appeared on this list back in July with his landmark Glass House collection. Now he returns with the remix package. Allan dropped four remixes from the Glass House EP via Sound.xyz’s new protocol — allowing him to host the drop on his own website and Sound.xyz simultaneously — making almost 10 ETH in primary sales. He also generated a flurry of secondary sales on this collection and his back catalog through October.
View the collection on OpenSea.
8/ Oshi – “U&I” and “Fight For This”
Monthly volume traded: 27.84 ETH ($43,569)
Primary sales (Oct.): 10.54 ETH
Secondary sales: 17.3 ETH
Drop date: Oct. 6
Independent artist Oshi has been at the heart of the Web3 music scene since 2020. He was also the first artist to release an NFT on Sound.xyz when it launched in 2021. In October, he dropped two new tracks, generating more than 10 ETH in primary sales. Secondary activity also picked up with around 17 ETH traded on OpenSea and Sound.xyz’s newly-launched marketplace.
View the collection on OpenSea.
9/ Kids of the Apocalypse – Noise Genesis
Monthly volume traded: 1,283 SOL ($41,825)
Primary sales (Oct.): Free mint
Secondary sales: 1,283 SOL
Drop date: Sept. 30
Kids of the Apocalypse (KOTA) is the first music project on the Solana (SOL) blockchain to make the monthly top 10. It’s an ambitious music project with a dystopian graphic-novel storyline which has been in development for several years, before Web3 was a popular concept. The 666 genesis NFTs grant holders access to the KOTA community and will act as a key for all future music drops.
The project was founded by Stefan Storm, a Swedish producer whose credits include Lady Gaga and Tiesto, and Derek Davies — the founder of Neon Gold Records. The NOISE Genesis project was free to mint but quickly generated more than 1,000 Sol in secondary trading volume.
View the collection on OpenSea.
10/ Chillrx
Monthly volume traded: 21 ETH ($32,865)
Primary sales (Oct.): N/A
Secondary sales: 21 ETH
Drop date: Sept. 16
Founded by Grammy-nominated producer Sidney Swift, Chillrx is a community record label where holders of the 10,000 NFTs get to participate in label decisions. The big goal, according to Swift, is to “win a mf-ing Grammy” as a community, via the label’s virtual artist called ChillPill. In October, Chillrx launched a new ‘staking’ feature. Holders can lock up their NFT (so that it cannot be sold). In exchange, they receive a loyalty token $CHILL which they can use to buy exclusive songs and eventually get access to other NFTs. The Chillrx floor price doubled after staking went live and more than a quarter of all NFTs are currently staked.
View the collection on OpenSea.
Methodology: The chart was compiled using data from primary music NFT sales across 19 different NFT platforms, independent releases and secondary volume data from OpenSea. Data was captured between October 1 – October 31, 2022. Conversion rates from crypto to US dollars were calculated on September 30.