NOUN (3)

1. a troupe of minstrels;

2. ballads sung by minstrels;

3. the art of a minstrel;

The Collaborative International Dictionary of English v.0.48:

Minstrelsy \Min"strel*sy\, n.
   1. The arts and occupation of minstrels; the singing and
      playing of a minstrel.
      [1913 Webster]

   2. Musical instruments. [Obs.] --Chaucer.
      [1913 Webster]

   3. A collective body of minstrels, or musicians; also, a
      collective body of minstrels' songs. --Chaucer. "The
      minstrelsy of heaven." --Milton.
      [1913 Webster]

WordNet (r) 3.0 (2006):

minstrelsy
    n 1: a troupe of minstrels
    2: ballads sung by minstrels
    3: the art of a minstrel