How NFTs are empowering recording artists and helping them escape centralized...
One project claims to be bringing together "streaming, VR, metaverses and NFTs" into one platform for music fan engagement and some degree of control. Blockchain is rapidly becoming the innovative force industry insiders have been promising for years. The number of projects and artists offering their works using it as a core technology may be shifting the current economic model under which most musicians operate. Non-fungible tokens, or NFTs, allow independent artists to earn income and engage with their fan base without always relying on a label or streaming service like Spotify. In....
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Jay-Z and Jack Dorsey emphasized the benefits smart contracts and NFTs can offer to artists. Jay-Z and Jack Dorsey have hinted that their music streaming service, Tidal, could be eying integrations supporting nonfungible tokens (NFTs) and smart contracts. Speaking during a June 28 conference hosted on Twitter Spaces, the duo emphasized the importance of introducing features that empower the artists using the platform, citing smart contracts, NFTs, and analytics tools as examples.Despite Tidal lagging behind top music streaming services — with Tidal’s 2019 $166 million revenue paling in....
NFTs will take center stage in 2022. They have established themselves as a major market segment in the crypto industry, with more than $20 billion in trading volume and mainstream participation from all corners of the world. NFTs have now become a market-expanding technology. So, it is no longer limited to art or any type of digital collectible. Its true ownership and non-fungible characteristics enabled multiple use-cases in the real world. Among many innovative use-cases of NFTs, the one that stands out and can immediately make a global impact is ticketing in the music industry. For....
With NFTs, the future of art is in the palm of your hand. Here is a look at the topmost famous artists getting into NFTs right now. For millennia, the world of art has remained unchanged for the most part. The tradition has always revolved around artists selling their work to museums, galleries, or individual collectors. In return, the artist would get a market value for their work which was often kept in private vaults and only displayed to the public ever so often.With the advent of NFTs, many artists are now able to take their work and offer it up for sale as a digital collectible.....
Music industry experts and leading musicians discussed and showcased NFTs at the 2022 Grammys. The billion-dollar music industry has shown recent interest in nonfungible tokens (NFTs) as musicians everywhere are beginning to understand the power of moving away from centralized business models. This concept is currently being demonstrated by early innovators like the popular rapper Snoop Dogg, who recently acquired Death Row Records with plans to transform the company into the first NFT recording label in the Metaverse. Country music icon Dolly Parton also recently launched her first NFT....
A Zimbabwean artist, Greatjoy Ndlovu, joined the growing list of African artists pivoting to the non-fungible tokens (NFT) market after his digital artwork was sold for 0.7 ethereum. The sale, which took place on the Async Art NFT marketplace, is Ndlovu’s first foray into the digital art space.
NFTs an Opportunity for African Artists
According to a report, Ndlovu’s digital art piece, which is called Burnt Out, depicts the challenges that were experienced by health care workers who were fighting to stop the spread of the Covid-19 pandemic.
In addition,....