In order to gather both qualitative and quantitative insights, supply-side and demand-side stakeholders were interviewed during the primary research process. CEOs, CTOs, VPs of Platform Development, blockchain architects, and heads of business development from record labels, blockchain infrastructure providers, and music NFT markets were examples of supply-side sources. Independent musicians, artists, music producers, talent managers, art collectors, cryptocurrency investors, and procurement leads from streaming services, decentralized autonomous organizations (DAOs), and digital asset investment firms were examples of demand-side sources. In addition to gathering information on user adoption trends, tokenization tactics, royalty distribution systems, and cryptocurrency payment dynamics, primary research verified market segmentation and platform development schedules.
Primary Respondent Breakdown:
By Designation: C-level Primaries (32%), Director Level (31%), Others (37%)
By Region: North America (38%), Europe (25%), Asia-Pacific (28%), Rest of World (9%)
Global market valuation was derived through transaction volume analysis and revenue mapping across NFT types. The methodology included:
Identification of 50+ key platforms across North America, Europe, Asia-Pacific, and Latin America
Product mapping across music album NFTs, single track NFTs, exclusive rights NFTs, digital collectibles, and live performance NFTs
Analysis of reported and modeled gross merchandise value (GMV) and platform fee revenues specific to music NFT portfolios
Coverage of platforms representing 75-80% of global market transaction volume in 2024
Extrapolation using bottom-up (transaction volume × average selling price by platform) and top-down (marketplace revenue validation) approaches to derive segment-specific valuations