The impact of musical NFTs
This week’s featured collection is AI_Me
AI_Me is an artist that collaborates with AI to create artworks in a multitude of themes, styles, and forms. Some of their art is spooky, while others, like these magical treehouses, are invitations to go on a journey of the imagination. Browse and AI_Me’s artwork at lazy.com/ai_me
Will NFTs disrupt the music industry?
For many people, NFTs are synonymous with visual art. That might be changing as big players in the world of music are increasingly embracing NFTs.
Earlier this week, Billboard, a mainstay publication of the music industry, declared: “there are signs of life in the music NFT space again after a slow summer.” Noting that Grammy Award-winning producers are starting to release music NFT projects, and that the late David Bowie made a debut on the blockchain, Billboard reported that the sale of music NFTs exceeded 1,434 ETH (around $2 million) in September.
And it is not just big name artists who are embracing audio NFTs. We are also seeing the rise of blockchain-based Digital Audio Workstations, such as Arpeggi Labs, that simplify the process of creating on-chain music. When an artist uploads a sound or song to Arpeggi, the sound is registered on-chain and the creator receives NFT as a certificate of their contribution—an innovation that could disrupt a core component of the music creation process.
From albums that share royalties with NFT owners to on-chain collections of remixable music, the potential of music NFTs is starting to become clearer.
Have you collected any music NFTs? What motivated you? If you haven’t explored music NFTs yet, what is holding you back?
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