In a private alpha stage, Vault's Fantasy Music game lets players assemble a team of five artists from the Solana-based NFT music platform. Players earn points when their chosen artists gain Spotify monthly listeners. To add artists to their roster, players need to own the artists' limited-edition NFT drops on Vault.
Vault releases five new drops weekly, including the Cassette Culture 3.0, most of which are for the Fantasy Music game. Older NFT editions sell out quickly.
In a recent private alpha, 50 players joined with $500 in prizes given. Vault's CEO, Nigel Eccles, aims to grow the prize pool. A refined beta will launch in four weeks.
Eccles, FanDuel's co-founder, once struggled to gauge musician popularity but found insight tracking Spotify stats of Vault's lesser-known artists. Vault promotes artists with under 50,000 monthly Spotify listeners. Eccles stated, "We focus on emerging artists. Instead of featuring stars like Taylor Swift, can you discover the next big artist?"
The game uses Spotify data, emphasizing monthly listeners for artist discovery. Initially a marketing tactic, the game has evolved. Players now seek more artist information, and some actively promote their selected artists on social media out of genuine love for the music.
Image: Vault
Eccles believes that the game's exposure may be more valuable to artists in the long run than NFT sales through Vault. New bands struggle to gain exposure due to the oversaturation of music. He envisions people embarking on a musical journey with this product, benefiting both players and artists.
Hachi Mugen, a rising lo-fi musician, gained popularity with two Vault music drops. Through Drip, a Solana-based NFT service, they connected with Vault. Mugen believes NFTs like Vault can enhance the bond between artists and fans, preventing their effort in music and art from going unnoticed. Their visibility has improved with the Fantasy Music game.
Mugen mentioned, "NFTs offer unique ways to highlight our music, aiding artists to shine."
In the Fantasy Music game, strategies involve supporting smaller artists. While they might not skyrocket in popularity, they maintain their fans. Players invest in Vaults, anticipating future artist popularity, and there's a community vibe among users. Eccles aims to enhance player interaction and add genre-focused games.
Drawing from FanDuel's growth, Eccles said, "Like how FanDuel adapted to player needs, we'll do the same here." He compared initial skepticism towards fantasy sports potentially harming sports but saw it boosted fan engagement.
Eccles believes Vault will positively influence the music industry by supporting artists and enhancing fan experiences. He emphasized Vault's intent to value music beyond statistics and prioritize artist success, saying, "Our goal is to uplift artists, ensuring music isn't just commodified."
