Grammy-winning producer Illmind auctions rights to new samples as NFT
The innovative NFT includes a special link that is accessible only by its owner, conferring rights to use audio files for their own purposes. NFTs are being used to explore a new business model that puts music makers back in control of sales and copyright issues. Grammy winning producer Illmind released what he calls the “first ever NFT-backed sample loop/melody pack” on Feb. 25, putting a collection of 10 “melody compositions” up for auction on the Mintable NFT market app.Based on Ethereum, the NFT is titled “ALORIUM” and contains an exclusive link to a file containing individual audio....
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The blockchain is allowing musicians to monetize their work and engage with fans more directly, according to a recent CNN news report by Edith Suarez. By embedding music in the blockchain, those involved in its creation can get paid immediately in cryptocurrency. Hence, the blockchain has the potential to change the way the music industry operates. The report highlights Grammy-winning artist Imogen Heap, one of the most visible musician advocates of the blockchain. How It Works. “Music is placed in the decentralized server, then each song is embedded with a piece of code, meaning that in....
The Grammy Award–winning band is turning to Rally to join the ranks of musicians launching fan engagement tokens.
In a first for the blockchain world, the Grammy Award-winning band will use cryptocurrency tokens to distribute previously unreleased material. Grammy Award-winning American pop-rock band "Portugal. The Man" has launched a fan-focused cryptocurrency on the Ethereum-based Rally Network. Known as PTM Coin, the new token will reportedly grant fans exclusive access to various events and perks, including a livestream party, previously unreleased songs and more.Fan tokens emerged as a growing trend in 2020, allowing artists and content creators (and even soccer players) to build virtual....