Do NFTs sound good? An exploratory study on audio NFTs and possible avenues

Abstract

Crypto, non-fungible tokens (NFTs), and the metaverse have taken a massive place in our daily conversations and are highly valued. Moreover, NFTs range from luxury fashion to art, and sound is no exception, although it still needs to be explored. Could this be a unique opportunity to go digital from creation to distribution? This study looks at sound NFTs and new avenues for digital audio communication. During the pandemic, podcasts have been exhausted, leaving space for new digital media business opportunities. We look at how sound has grown, assuming a prominent role in the new media ecosystem due to podcasts consumption. We explore NFTs and their evolution in different markets over the years, highlighting the space that sound content has gained on these platforms as new possibilities for dissemination, promotion, and sale. We use content analysis on marketplaces that provide sound NFTs to understand what audio content consumers can find and future opportunities.