While the Covid-19 pandemic hit the entertainment industry hard, it hit indie artists even harder, especially when it came to them protecting their revenue-dependent consumer fanbase.
When musicians and producers took to social media to keep their careers alive, hosting virtual concerts and regular content drops, it wasn’t long before platforms like Facebook and Spotify began implementing guardrails. This posed a challenge for the many struggling artists out there just needing to stay afloat.
With concerts returning, indie artists have some catching up to do, beginning by leveraging technology like blockchain and crypto to stay ahead. Music-related non-fungible tokens, or NFTs, have proved to be a new way for both the artist and, finally, their fans to connect.
An NFT is an electronic ID that authenticates the existence of a digital asset, usually in the art world, or in this case, a limited edition piece of music or related benefit, not available anywhere else. NFT token contracts are unique such that the owner of the NFT token contract is the owner of the original artwork; NFTs create the virtual scarcity that elevates the value.
Continue reading: https://www.rollingstone.com/culture-council/articles/artists-blockchain-todays-world-1221252/
When musicians and producers took to social media to keep their careers alive, hosting virtual concerts and regular content drops, it wasn’t long before platforms like Facebook and Spotify began implementing guardrails. This posed a challenge for the many struggling artists out there just needing to stay afloat.
With concerts returning, indie artists have some catching up to do, beginning by leveraging technology like blockchain and crypto to stay ahead. Music-related non-fungible tokens, or NFTs, have proved to be a new way for both the artist and, finally, their fans to connect.
An NFT is an electronic ID that authenticates the existence of a digital asset, usually in the art world, or in this case, a limited edition piece of music or related benefit, not available anywhere else. NFT token contracts are unique such that the owner of the NFT token contract is the owner of the original artwork; NFTs create the virtual scarcity that elevates the value.
Continue reading: https://www.rollingstone.com/culture-council/articles/artists-blockchain-todays-world-1221252/
