Maybe he sticks to sheparding other artists toward the technology. He sold off a variety of different types of NFTs, some of which included access to new songs and digital copies of his 2017 Ultraviolet album.Ī musician’s NFT can do any number of things: sell an album, drop a single or strike a more complicated bargain-perhaps selling off a cut of future earnings for the immediate investment. And three days prior, the electronic dance music star 3LAU finished a $11.7 million NFT auction, the biggest sale of the tokens yet. (And it is undeniably a boom: Nearly $50 million of these NFTs are trading hands each week, some $180 million in the past two months.) A day ago, the band Kings of Leon announced they planned to release a new album through an NFT sale, something no other artist has done. Musicians are at the forefront of the boom. They can do it without giving up a lick to an agent, a lawyer or a record label. ![]() These tokens allow them to sell digital media-maybe an illustration, maybe an entire album-at prices never before possible and collect a cut of secondary sales too. ![]() To them, NFTs are manna from a coded heaven. If only there was a way to do that using a sophisticated financial technology, precisely the type Dorsey and Jay-Z might find particularly interesting.Īnd this is how the world could end up with Jay-Z NFTs.Īn NFT, or a non-fungible token, is a surging type of cryptoasset attracting all sorts of artists.
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