In the world of NFT, EDM musicians were pioneers. 3LAU auctioned 33 NFT collectible versions of his album Ultraviolet in 2021, for $11.7 million, making it the first album to be tokenized. NFTs for music may appear to be a blockchain-based alternative to purchasing tracks on iTunes. When you buy a song on iTunes, however, you are merely purchasing the right to listen to it. Music NFT, on the other hand, allows any listener to listen to tracks and grants ownership at the same time.
Can any Artist Sell NFT?
NFTs can be sold and bought on NFT marketplaces, such as OpenSea, Rarible, and Foundation. Some of these are open to everyone while others can only be used by invitation. Some are just for art and there are some for video games.
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NFT Artist
Top 10 Music NFT Artist Influencers
Jay-Z
Celebrated musician and entrepreneur Jay-Z has changed his Twitter profile picture to that of a CryptoPunk, as he sets up his first NFT sale at auction house Sotheby’s. This specific CryptoPunk was purchased on April 25 for 55 ETH, worth $126,000 at the time (although just $102,000 today).
Eminem
Recent NFT purchase, the rapper created ripples in the metaverse with a Bored Ape Yacht Club (BAYC) NFT, which cost him 123.45 Ether — approximately USD 450,000
Snoop Dogg
Who is now launching his own NFT collection on the blockchain. Snoop Dogg has reportedly partnered up with Clay Nation to release some of his unreleased music and limited edition pitches as non-fungible tokens (NFTs) on the Cardano (ADA) blockchain.
Drake
The artist recently announced that he is turning the cover art into 10 000 non-fungible tokens (NFT). Titled Great Expectations, these NFTs are unfortunately not for sale to the public.
Ed Sheeran
He has sold more than 150 million records worldwide, making him one of the world’s best-selling music artists and now he is on NFTCHAIRS.
Justin Bieber
Justin Bieber bought another Bored Ape Yacht Club NFT, racking up his second purchase in just two weeks. Instead of splurging millions this time, he bought his latest Bored Ape for 166 ETH, roughly $470,000. Justin Bieber bought this NFT for $444k.
Are NFT Good for Artists?
NFT art puts artists in control
“It’s basically decentralising the way we as artists, as visual effects artists or digital artists, are able to monetise our art and it’s very liberating.” NFT art can power this important shift in the VFX industry and the art industry as a whole.
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Grimes
An NFT issued by the musician Grimes plunges in value by 84% as celebrity-minted tokens struggle in the market.
Shawn Mendes
Canadian singer Shawn Mendes came together with avatar tech company Genies to launch an NFT based on his latest album, Wonder. The singer launched digital wearables—guitar, vest, a signed t-shirt and more—on OpenSea, an NFT marketplace.
BTS
The popular K-Pop band first announced plans to create its own NFTs back in November last year when entertainment company Hybe revealed a new partnership with South Korean crypto exchange Dunamu.
3LAU
3LAU has broken 1 billion online streams and is releasing these once in a lifetime NFTs to commemorate the 3-year release of his album Ultraviolet. Only 33 Ultraviolet Vinyl NFTs will ever be minted. The top bidder will receive this NFT, redeemable for a custom-created song by 3LAU and access to unreleased music.
What is a Musician NFT?
An NFT is a unit of data that lives on a blockchain, similar to a fungible cryptocurrency such as ETH or BTC. It can be held, bought, or sold in a similar way. However, the non-fungible aspect of the “token” is what makes an NFT a verifiably-limited digital item.
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