Dequency 101: How to Price Your Licenses
Since we last spoke we’ve taught you all how to create your profiles and upload your music. Upon request, we’ve returned to clear up some confusion around how you should price your music for licensing on Dequency!
Let’s start with the licenses
On Dequency we currently offer licenses for NFT and Metaverse use cases. What does that mean, you ask? — It means that all music on Dequency is available to be licensed for use in an audiovisual NFT or Metaverse project. Most license activity through the marketplace is for one-off projects from emerging artists, so the price range for NFT and Metaverse licenses should ideally reflect those conditions in order to “meet the market”. However, we’ve considered putting a minimum price point in place so that all artists on Dequency receive what they deserve vs. the marketplace becoming a race to the bottom. Know your worth! .
So what price point do we suggest?
Currently emerging musicians are pricing their NFTs between $1 up to $500 dollars to create an affordable marketplace for smaller artists. We’ve had licenses successfully purchased between this price range, and it seems to work the best for those looking to add music to their projects.
Ultimately it’s up to you… but some things to consider:
- Your personal reach/streaming numbers — if you command more ears, you have some leverage here.
2. How aggressive you are about finding sync placements — if you’re prioritizing volume, feel free to choose a more accessible price so more visual artists can purchase a license from you.
3. Your willingness to co-promote — if you’re able to work with visual artists to amplify the art they create with your music, you might be able to add value that way and increase your price accordingly.
How you decide to price your license is completely up to you. This is a part of the control we promised to give back to independent artists throughout the licensing process. Our recommendation only exists to help bring in more opportunities to musicians in the current state of the Deqeuncy marketplace. If you have any questions please feel free to reach out to us at email@example.com!