Incentivizing onboarders can be a powerful strategy for communities looking to onboard new creators and drive adoption of web3 technology. One such example is makintsMind, an creator who currently onboards a variety of musicians and has them set up a split where they receive 15% of sales.
It’s important to note this was an organic relationship. MakintsMind is has no official relationship with Decent. Market conditions, as well as MakintsMind’s natural attraction to web3 music, have created a fertile ecosystem for this new organism “Onboarder” to evolve.
This approach is particularly interesting because it allows the community to not only bring new creators into web3, but also directly benefit from the success of those artists through the sales split. In this article, we will explore the benefits of incentivizing onboarders and how communities can effectively implement this strategy.
Challenge: Onboarding Musicians
Onboarding new creators into the world of music non-fungible tokens (NFTs) can be a challenging process for both the creators and the communities that are bringing them onboard. One of the main challenges is the technical aspect of using wallets like MetaMask and understanding how to navigate the various platforms available for creating and selling NFTs. Additionally, creators must also consider how to protect their musical rights on the blockchain, which can be a complex and unfamiliar process for those who are new to the technology. These challenges can make it difficult for new creators to get started in the world of NFTs and can discourage them from pursuing this exciting new opportunity. It is important for communities to provide the necessary support and resources to help creators overcome these challenges and succeed in this rapidly growing market.
Onboarders reduce the friction for new creators to ship their first music nft.
The Drop Breakdown
Here’s an example drop I saw from makintsMind onboarding a musician
85% - artist - provides music & cover art.
15% - onboarder - creates music nft, handles distribution & sales.
Onboarding Fee
When considering the 15% onboarding cut that makintsMind currently implements for new artists, it is important to consider both the time and effort required to set up a new musician's drop in web3 and the potential rewards of this approach. On one hand, 15% may seem like a significant cut for the onboarding process, especially if it requires a significant amount of time and effort to set up the drop. On the other hand, it is possible that this cut is sufficient to compensate onboarders for their time and effort, especially if the artist's drop is successful and generates significant sales.
Ultimately, whether or not 15% is an appropriate cut will depend on a variety of factors, including the specific needs and expectations of the onboarder and the artist, as well as the potential rewards of the drop. It may be helpful to assess these factors carefully and consider the potential risks and benefits of this approach before deciding whether it is the right fit for your next drop.
What do you think about “Onboarders"?”
Now that we have explored the challenges and benefits of incentivizing onboarders in the world of music NFTs, I want to hear from the community. How do you feel about this strategy for onboarding new creators? Do you think it is a fair and effective way to bring new talent onboard, or do you have concerns about the potential risks and drawbacks of this approach? I welcome your thoughts and insights on this topic, and encourage you to share your opinions and experiences with me on Twitter or Lens. By engaging in this open and honest dialogue, we can work together to find the best solutions for onboarding new creators and supporting their success in the world of NFTs.
