NFTs are ushering in the next generation of big names in music

Few industries have undergone as many transformations as the music industry has. The way people listen to music has changed several times.

From phonographs to vinyl record players, to cassette tapes, to CDs, to MP3, to streaming. Each time music fans embraced the new technology because it got them closer to the music and artists they love.

These changes improved the quality of the music and improved the overall experience for the listener. The changes to the music industry also affected the artists. The amount of money they could earn increased as the opportunities for expanding their appeal increased.

The more people who could hear the music, the more exposure the artist got. This led to big money contracts and world tours. It also changed how artists could make money from their musical creations. At one time you could only buy a vinyl record and play it at home. When tapes and CDs became a thing, music could travel farther than the artist themselves could.

What these changes mean for artists

This growth has always been closely managed by entertainment companies set on making as much money as they can. As music became more profitable, the record companies found a way to increase their profits as well.

Music artists’ wages have come a long way over the years, but they are still at the bottom of the food chain when it comes to who is getting the most money from the music. For artists and fans that are willing to test the waters, exciting things are in store.

Music NFTs can change that by restoring control back to the artists. They are the ones creating the music we love, and they should be fairly compensated for it.

NFTs (non-fungible tokens) exist digitally and have unique identification in the blockchain. Blockchain is the technology that makes things like cryptocurrencies and NFTs possible. It keeps track of the digital property and verifies its authenticity. Once a purchase or exchange is made in blockchain ownership is established.

Music of the future

An artist can create an NFT using any of their intellectual property. The NFT can be album artwork, a lead single, royalties, live performance recordings, or anything else the artist wants.

And these NFTs which are owned digitally can come with physical property or experiences as well. Such as concert tickets, backstage access, vinyl albums, artist merchandise, access to exclusive content, and more.

The best part is the artist owns this property and decides how much they want to sell it for. And when they sell it, it happens as a microtransaction that pays them directly and instantly. Each artist can sell music NFTs and get supported directly by the fan for the content the fan wants to consume.

Why go all in on NFTs

Even though NFTs are digitally owned, they are unique property that only you own. And once the fan owns music NFT from their favorite artist, they can sell it to someone else. So, if a local artist blows up internationally, their NFTs will increase in value, and you can enjoy a return on investment.

Another benefit of music NFTs is legitimate copyrights for the artists. No matter how many times a fan buys and sells a piece of music, the artist still holds the original rights and can continue to make money from future sales of their music. NFTs are changing the music industry for good, and many artists have already made a success of selling them to their audiences. And this is something big artists are catching on to.

Don’t think of NFTs as a way for AI rappers to make fake money. It’s a new way for artists to own what they create and to share it directly with the fans that want to support them. Here are some artists who have made NFTs available to their fans:

Grimes
Steve Aoki
Kings of Leon
Don Diablo
Tory Lanez
Wu-Tang
Nas
Snoop Dogg

Those are some of the established artists who were willing to take a chance on NFTs with relatively little to lose. They already have huge followings and if their NFT doesn’t sell, they will still have millions of dollars.

But many more artists are going independent with NFT property. Artists are realizing they don’t need a billion fans to be successful and share music with people who care. Building a community that will support you no matter what is more valuable and attainable. Music NFTs are making it possible for anyone.

Conclusion

This isn’t a fad that music industry mainstays can hijack and toss aside when it has served its purpose. It is the next transformation of the music industry as a whole and it has everyone’s attention. Music NFTs let people enjoy music as a community that really cares about the artist and their art.