Wednesday, February 28, 2024
HomeBusinessHow NFTs are empowering recording artists and helping them escape centralized platforms...

How NFTs are empowering recording artists and helping them escape centralized platforms By Cointelegraph

Date:

Related stories

Exploring the Connectivity of The Continuum In Singapore

Have you ever imagined stepping out of your house...

How Important Is a Savings Account for Students?

In the financial maturity process, the important component for...

Techberry Review: The Future of Financial Markets

The financial markets of today are more complex and...

Unlocking the Power of Tableau: Developer Certification and Training Insights

As we progress with technological advancements, proficiency with tools...

Is Carrie Underwood pregnant again? Know details

Is Carrie Underwood pregnant? If are you curious to...



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 (NYSE:). In March, 3LAU, an electronic dance music producer, sold more than $11 million worth of tokens redeemable for real-world goods — including music — in addition to a $3 million token holder who bid for the right to collaborate with the artist. Paul Oakenfold, another well-known EDM DJ, announced in September he would be launching a tokenized album on the blockchain.