Ever heard of music NFTs? The Agenda hosts maddopemadic and HorusHughes sat down with levychain and rapper jkila to discuss how this type of nonfungible token can benefit both artists and fans.
The music industry is notoriously centralized, with major record labels often controlling nearly every facet of an artist’s career — from which songs they are allowed to release to what percentage of the royalties they keep and more.
Enter music NFTs. For those in the blockchain space, nonfungible tokens represent an opportunity for fans to directly support their favorite artists, for musicians to build stronger communities with their listeners, and for content creators to build more substantial and sustainable income streams.
“It really just comes down to tokenizing an audio file and being able to set that up out in the open market and find a collector buy that, engage with that, and join you and your journey as a creator in the music industry.”that he first became interested in music NFTs in early 2020 after most of his performance opportunities disappeared with the onset of the COVID-19 pandemic.
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