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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NFT marketplaces

Sound.xyz

# Sound.xyz Active users (monthly) Methodology

## 1. Overview

Active users (monthly) measures the number of unique addresses that perform revenue-generating actions on Sound.xyz within a 30-day rolling window. This metric captures the core participants of the music NFT ecosystem, including collectors minting or purchasing music editions and artists deploying new editions or creating artist profiles. By tracking unique interactions across primary mints and secondary marketplace swaps, active users (monthly) serves as a key indicator of user growth and engagement for the Sound.xyz platform.

## 2. Data sources

- **Blockchain events**: `EditionPurchased` events from `Artist` and `ArtistV1` contracts; `Minted` events from `MerkleDropMinter` and `RangeEditionMinter` contracts (including V1, V2, Bankless, Bonfire, and InvinMusic versions); `Bought` and `Sold` events from `SAM`, `SAMV1`, and `SAMV2` contracts; `SoundEditionCreated` events from `Creator` contracts; and `CreatedArtist` events from `ArtistCreator` contracts, covering Ethereum and Optimism.

## 3. Step-by-step calculation

### Component A: Music edition collection and minting

- **Purpose**: To identify unique users purchasing or minting music NFTs.
- **Logic**: User addresses are extracted from the buyer fields of `EditionPurchased` events emitted by `Artist` and `ArtistV1` contracts. Similarly, participant addresses are identified from the buyer fields of `Minted` events emitted by various versions of `MerkleDropMinter` and `RangeEditionMinter` contracts. These events represent primary market activity where users acquire music assets directly from the protocol.
- **Key fields**: `buyer`, `block_timestamp`, `transaction_hash`

### Component B: Marketplace swap activity

- **Purpose**: To capture users interacting with the Sound Automated Market (SAM).
- **Logic**: Unique addresses are identified from marketplace interactions using the Sound.xyz liquidity layer. Buyer addresses are extracted from `Bought` events, and seller addresses are extracted from `Sold` events across `SAM`, `SAMV1`, and `SAMV2` contracts. This ensures that both liquidity providers and traders are reflected in the monthly activity counts.
- **Key fields**: `buyer`, `seller`, `block_timestamp`, `transaction_hash`

### Component C: Artist and edition creation

- **Purpose**: To track the activity of creators and artists on the platform.
- **Logic**: Deployer addresses are extracted from `SoundEditionCreated` events emitted by `Creator` contracts. Additionally, artist addresses are identified by joining `CreatedArtist` events from `ArtistCreator` contracts with transaction data to capture the originating `from_address` of the transaction signer. This captures the active participation of artists establishing their presence or releasing new content.
- **Key fields**: `deployer`, `from_address`, `block_timestamp`, `transaction_hash`

### Monthly aggregation

- **Purpose**: To calculate the final count of unique monthly participants.
- **Logic**: All identified addresses from the collection, marketplace, and creation components are pooled and de-duplicated within each 30-day rolling window. The metric is calculated as the count of unique addresses per chain. Monthly granularity is maintained using 30-day rolling window boundaries to ensure consistent reporting of active users (monthly) across all supported networks.

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

Unique revenue-generating users over a rolling 30-day window.

Sound.xyz

Active users (monthly)

Active users (monthly)

Competitive landscape

Chain breakdown