Artists can launch their music NFT editions through Sound.xyz and collect edition purchase payments (supply-side fees).

Sound.xyz is an NFT launchpad built for musicians and artists. Sound.xyz was founded by Vignesh Hirudayakanth, David Greenstein & Matt Masurka and launched in 2021.

Sound.xyz team owns and governs the protocol. They currently take a protocol fee of edition purchases (revenue).

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Sound.xyz

# Sound.xyz Trading volume Methodology

## 1. Overview

Sound trading volume measures the total USD value of transactions in Sound's music NFT marketplace ecosystem. This includes both primary sales (mints of new music collectibles) and secondary sales (trading of existing NFTs through Sound Swap). The metric aggregates daily transaction volumes across multiple Sound protocol versions on Ethereum and Optimism, providing a comprehensive view of economic activity within Sound's decentralized music platform.

## 2. Data sources

- **Ethereum minter contract events**: Parsed `Minted` events from various Sound v2 minter contracts including `MerkleDropMinter` (permissioned drops) and `RangeEditionMinter` (fixed-price editions) across multiple versions and branded variants
- **Optimism minter contract events**: Similar `Minted` events from Sound v2 minter contracts deployed on Optimism
- **Ethereum Sound Swap events**: Parsed `Bought` and `Sold` events from Sound Automated Market (SAM) contracts across multiple versions for secondary trading
- **Optimism Sound Swap events**: Secondary trading events from SAM contracts on Optimism
- **Ethereum artist edition events**: Legacy `EditionPurchased` and `EditionCreated` events from early Sound artist contracts before minter contracts were introduced
- **End-of-day token price feeds**: USD conversion rates for WETH on Ethereum and Optimism
- **Token metadata**: Decimal precision information for proper amount calculations

## 3. Step-by-step calculation

### Component A: Primary sales (mints)
- **Purpose**: Captures all primary sales of music NFTs through Sound's minting infrastructure
- **Logic**: Extract `Minted` events from multiple minter contract versions across Ethereum and Optimism. These include permissioned drops through MerkleDropMinter contracts and fixed-price editions through RangeEditionMinter contracts. Each event contains the buyer address, edition address, quantity minted, platform fees, and required payment amount. For legacy artist editions, join `EditionPurchased` events with time-ranged pricing data from `EditionCreated` events to determine the correct price for each purchase based on when it occurred relative to price changes
- **Key fields**: `requiredEtherValue` or calculated amount for purchase price, `quantity` for mint count, `platformFee` for protocol fees, `edition` address for NFT collection identification

### Component B: Secondary sales (Sound Swap)
- **Purpose**: Captures all secondary market trading activity through Sound's automated market maker
- **Logic**: Extract both `Bought` and `Sold` events from Sound Automated Market (SAM) contracts. Buy events include buyer address, total payment amount, and fees paid. Sell events include seller address and total payout received. Each transaction is associated with a specific music NFT edition and includes artist royalty fees and platform fees
- **Key fields**: `totalPayment` from buy events, `totalPayout` from sell events, `artistFee` for royalties, `platformFee` for protocol fees, `edition` for NFT collection

### Component C: Data standardization and classification
- **Purpose**: Normalizes all transaction data into consistent schema and business classifications
- **Logic**: Standardize timestamps to daily boundaries, extract chain information from source schema names, classify all activity under 'NFT marketplace' business line with 'nfts' market sector. Map token addresses to native wrapped tokens (WETH) for each chain. Categorize volume types as 'Primary sales', 'Primary sales (artist editions)', or 'Secondary sales (Sound Swap)' based on transaction source
- **Key fields**: Standardized `timestamp`, `chain`, `account_address`, `token_address`, `nft_address`, `volume_type`, and `amount`

### Final aggregation
- **Combining components**: Union all primary and secondary sales data into single dataset, maintaining transaction-level granularity with daily timestamp truncation
- **Currency conversion**: Convert native token amounts to USD using end-of-day price feeds, applying proper decimal correction based on token metadata to ensure accurate value calculations
- **Time aggregation**: Aggregate transaction volumes by day using timestamp truncation, ensuring consistent daily boundaries across all chains and transaction types
- **Final calculation**: Sum all USD-converted trading volumes by day, applying zero-filling strategy for days with no trading activity to maintain complete time series, and filter results based on chain data availability to ensure reliable reporting periods

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value of spot trades executed on the exchange.

Sound.xyz

Trading volume

Trading volume

Competitive landscape

Chain breakdown