Litepaper: Air Guitar Academy — Art, Game, Music and NFT Platform

Written by BB

Our mission is to empower artists, musicians and community leaders to deliver mind-melting experiences to their fans and NFT collection owners through music-based gaming events.

  • Website: airguitaracademy.com

We aim to do this through a blockchain based game, with great art and music. Our goal is to provide the NFT ecosystem with a project that intersects these rapidly growing industries — providing utility and value to players, musicians, buyers and creators.

This paper explores the following topics and lays out the plans for the development of Air Guitar Academy under the Air X Academy template, a music and NFT based gaming experience.

Gaming x Music for NFT Owners

Given the market size and growth in both the gaming industry, the early validation in the NFT and crypto projects that are pursuing these markets and the rapid adoption and growth of NFTs with a lack of utility — we see a world in which we can bring these industries together in a combined experience that is beneficial to players, musicians, owners, creators.

Players

Benefit from being able to use their existing NFTs to play games and play-to-earn opportunities through competitive gameplay.

Musicians

Benefit from providing the music for these immersive and interactive experiences. This opens an entire distribution channel for them.

Owners

Benefit from an increase in the value of their NFT as new utility becomes available along with the ability to participate as a player themselves, earn income directly from renting their assets for in-game use or participating in betting or staking in games.

Community Creators

Benefit from utility in games that integrate their collections and provide a platform for them to run events and experiences within their communities.

Two main models can be envisioned:

  1. Inclusive: artists provide their music and any nft owner can battle any other nft owner

Scenarios

  • You battle your friend to your favorite beats on a Friday while you take a break from nft shopping.

Air Guitar Academy: PVP P2E Music NFT Game

How it started

Through a similar insight in early September, @michaedeon_ put out a concept game for the Degen Ape Academy called Ape Hero. You can view his concept video here and initial website here. It received a warm welcome from the community and led to the development of Air Guitar Academy.

Core elements

  1. 8888 uniquely generated Air Guitar NFTs with mind-melting artwork hand produced by Ben Rausch

How it works

Air Guitar Academy will let any Solana or Ethereum NFT holder play the game for free.

To play

  1. Connect your wallet

Benefits to stakeholders

Air Guitar Academy seeks to benefit players, musicians, owners and creators in the following ways, aligning with the principles mentioned above:

Players — 25% Royalties

  • Gain utility for the NFTs they hold and a mechanism to connect with other holders.

Musicians — 25% Royalties

  • Gain a distribution channel to expose their music to the NFT community.

Owners

  • Increased value of NFTs as they become items that can be used to access the game.

Creators

  • NFT Collections will have a new utility.

Air X Academy: a template for music game experiences

Air Guitar Academy will be the first version of a game that brings together NFT holders with a love of music and PVP experiences. It will serve as a template for musicians and creators to launch their own experiences — either with the Air Guitar Academy team as support, advisors or even service providers.

We will help other teams in whatever way we can to launch their own Air X Academy by:

  • Creating NFT/instrument as an item that can be equipped to any NFT to play a music or rhythm based game.

Air Team: friendly people figuring this out

We are passionate about empowering people within the space to change the ecosystem and the communities that they contribute towards. We don’t have everything figured out and don’t believe in that way of thinking.

We are a dynamic team that works iteratively with our environment and our community to develop value. We believe in sharing our ideas openly and removing barriers for those who want to leverage our ideas, technology and platforms.

Market Analysis: NFTs, Games and Music

Global NFT Market

NFTs have begun to reshape the online space in the form of PFPs, art and collectibles taking over Twitter, Discord and other major social areas of the internet. NFT buying exceeded $10bn in sales in Q3 Oct 2021 alone, with in-game items accounting for 22% or $2.3bn in sales¹. This is even spilling over into the real world where we are seeing events like NFT NYC taking over billboards in downtown Manhattan.

Rachel Sun/CoinDesk

This explosive growth sets the stage for what is to come in terms of adoption of NFTs as it becomes more accessible to the mainstream — along with Bitcoin and other cryptocurrencies. Some are even predicting that NFTs can eclipse the value of crypto: Brain Armstrong stated that they “could be as big or bigger” than Coinbase’s cryptocurrency business as they prepare to launch their NFT offering².

Global Games Market

In 2021 games will generate $175.8bn in revenue from over 2.9bn players worldwide³. The in-game microtransaction market consisting of the sale of in-game virtual goods and services is expected to reach $34.59bn in 2021 and grow to $50bn by 202⁵⁴.

“Major players in the online microtransaction market are SmileGate (CrossFire), Riot Games, Inc., Nexon Co., Ltd., Wargaming.net, NCSoft, Activision Blizzard Inc., Electronic Arts Inc., Valve Corporation, Tencent Holdings Ltd. and NetEase Inc.”

NFT gaming has already begun to show it’s potential with early movers netting $9bn in private financing raised in the first nine months of 2021, $1.8bn of that was for NFT-related gaming projects⁵ like Axie Infinity which has token market cap of $8,4bn on Coinmarketcap on 23 Nov 202¹⁶.

With so few players in the space, there is a massive opportunity for investors to get involved in NFT games currently in development and aiming to reach the market in 2022.

US Music Market

Music revenue in the US alone is growing at a rapid pace, increasing by $1.5 billion or 27% year-on-year, to $7.1 billion in H1 2021 (from $5.6 billion in H1 2020)⁷. Streaming has taken over the global music market accounting for 84% in 2020. Spotify now counts it’s base at 365 million users.

Growth in the sale of music NFTs has been slow but the potential to revolutionise the way that royalties are collected form music streaming and sales is massive and a few projects have shown what is possible: Kings of Leon generated $2m in NFT sales of their new album⁸, Audius has achieved a market cap of $268m with their token AUDIO⁹ and although not specifically NFT related Tidal was acquired by Square for $302m¹⁰ — and with Jack Dorsey as CEO it’s likely that they will be making a move into the crypto and NFT space soon.

NFT Utility

Many investors have aped into projects like Solana Monkey Business or the Degen Ape Academy and the floor price of these projects is proving them to have been great investments. Their NFT also provides them access to the respective DAOs along with upcoming projects. Most of these projects are however focused on developing utility for their community and not focused on interoperable utility between projects.

We see an opportunity to create a project that provides utility to all NFT holders and creators, brings them together in an inclusive way and helps them to connect and interact through fun and exciting experiences.

“A rising tide lifts all boats.”

NFT Owners

A quick analysis of the top Solana and Ethereum collections gives somewhat of an idea of how many individuals are invested in these projects at high evaluations. There are hundreds of other projects too that are offering little utility to project owners at the moment — although much amazing work is being done by collection creators to provide utility for each collection.

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