Josh Savage groundbreaking “Love Letters Album #1 NFT music

In a time in which musicians are finding it harder than ever to make a music career a viable lifestyle, the British singer-songwriter Josh Savage has pioneered an alternative. After exchanging handwritten love letters via post during lockdown, he wrote a collection of songs inspired by the experience which became the ‘Love Letters’ album. While his lyrics explored one of music’s most prevalent and timeless themes, he plotted an inventive twist for its launch by releasing the album exclusively as a music NFT collection. An NFT – a non-fungible token – is a unique digital asset that is hosted on the blockchain and can be openly traded.

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Fans quickly became super-engaged: ‘Love Letters’ became the UK’s #1 music NFT collection and has to date generated a staggering £120,000 in revenue – a figure which would require 48 million streams to match via Spotify.

In its simplest form, ‘Love Letters’ consists of eight songs which explore the thrills and fears that come with a new love. But there’s a lot more to the ‘Love Letters’ music NFT collection than a traditional album. Each of the eight tracks is released as three different versions (a studio recording, and solo guitar and piano versions). These provide the soundbites for a total of 888 unique pieces of artwork, each of which features a lyric and was painstakingly created by hand on paper with real physical objects, before being photographed and framed. The various combinations of artwork include different elements which define its rarity: for example, 32.8% of the art created features a rose while just 0.9% of the items contains a coffee stain.

Fans can choose their own way to consume the music: they can simply stream the tracks via the OpenSea platform, or they can collect all eight songs across different pieces of artwork. The NFT collection ensures that ‘Love Letters’ is free to listen to, but relatively expensive to own. At the time of writing, prices for each part of artwork start at 0.13ETH (approximately £175). Fans also gain rewards depending on the rarity or combination of art that they own. If you collect all six lyrics from one song, you receive a signed print. If you own one of the 3.6% pieces of artwork that features a gold frame, you receive VIP tickets to all future headline shows for life!

Each artwork can of course be resold – giving fans the opportunity for their investment to grow in value, and providing Josh with a secondary resale fee. It’s a platform which benefits everyone: fans can engage with the project casually or intensely immersively; and they can spend nothing or invest money that they can potentially make a return on; and it generates enough income for Josh to make music his full-time profession.