1 Introduction
This document defines Part 1 of the Web3 standard for Simple Music Non-Fungible Tokens (NFTs) and was developed by the member organisations of the Digital Data Exchange, LLC (DDEX). Any organisation wishing to implement this (or any other DDEX standard) is required to apply for an Implementation Licence. The terms of the licence and an application form can be found here and here.
This part of the Web3 standard defines a series of standard profile messages for use in the process by which an NFT Issuer instructs an NFT Minting Service to mint a simple Music NFT containing one or more sound recordings and/or music videos which embody musical works which, can be traded on an NFT marketplace to enable any owner of the NFT to playback the sound recording contained in that NFT. All terms used in this part of the Web3 standard, are defined in Clause 4.
This part of the Web3 standard is the first DDEX standard to address requirements relating to music-related NFTs and DDEX expects to develop more standards for music-related NFTs in due course.