Electronic dance

How NFTs Empower Record Artists and Help Them Escape Centralized Platforms By Cointelegraph


Blockchain is fast becoming the innovation force that industry insiders have been promising for years. The number of projects and artists offering their works using it as a basic technology could change the current economic model in 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, a electronic dance music producer, has sold more than $ 11 million worth of tokens redeemable for real-world goods – including music – in addition to a $ 3 million holder who made an offer for the right to collaborate with the artist. Paul Oakenfold, another well-known EDM DJ, announced in September that he would be launch a tokenized album on the blockchain.

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