2022-02-19 18:49:58
When introducing NFT, most often one thinks of pictures. But NFT formats are evolving. Gif images and mp4s (NFT audio and video) are available
DJ 3Lau, Mike Shinoda from Linkin Park, singer Grimes, and many others made money selling NFT music.
But the first to use NFTs for real (for musical purposes) were the Kings of Leon. Along with the traditional album release, the musicians presented three types of NFT:
a special edition of the album, exclusive options for future concerts and access to unique audio-visual art. How NFT audio is changing the music industry
Cutting piracy or misappropriation of music
The $11 billion industry is dominated by the world's three largest labels (Sony, Universal Music Group and Warner Music Group). They control artists' revenues. NFT will help give control back to artists.
Adding royalties through resale
Performers can earn extra income or royalties after the initial sale.
Direct communication with artists and music lovers
NFT simultaneously allows fans to own parts of their favorite music and artists to protect their intellectual property.
The "extinction" of resellers
Using NFT and smart contracts will make the services of resellers unnecessary.
All the more reason to have Yellowheart, the ticketing platform. It ensures the authenticity of digital tickets.
By the way, Foil, together with the Outkast group, created a cool lot a year ago - the Golden Ticket. The ticket buyer received a package of unique privileges. One of them is.
Free lifetime access to vip seats at all Outkast concerts for 4 people.
Creating an NFT version of your product can be a monetization tool if you:
a cult musician.
Artist whose audience is well aware of the cryptocurrency market
musician working at the intersection of music and digital art
By the way! Stars with the help of NFT will be able to successfully sell their creations and send the proceeds to charities.
This is a great trend that needs to be supported!
55 views15:49
F
