Web3 is creating a new genre of NFT-driven music
Music-related use cases for Web3 technologies are piling up as the industry goes all in on adoption. From democratizing song rights royalties and blockchain licensing to legacy companies like Sony Entertainment filing patents for nonfungible token-authenticated music.
While electronic dance music and pop seem to be picking up the most attention in terms of NFT music, they’re even making a difference in more traditional areas like opera.
However, just like any new and novelty tool, there are creators who live off the hype. This is often seen with “shitcoins” and pump-and-dump NFT projects, both of which have little to no value or long-term utility.
As music NFTs become more popular, the hype follows. Hundreds of music NFT projects are popping up on Twitter, creating what can be seen as almost a subgenre of NFT music.
The music revolution is here Supply: 4444Mint price: .11 ETHDate: Friday 9/23 pic.twitter.com/d0iunVvwhV
All the hype begs the question: What comes first the music or the desire to create a music NFT?
Cointelegraph spoke with creators in the music NFT industry to answer this chicken-and-egg type question and understand this new genre.
Related: Experts explain how music NFTs will enhance the connection between creators and fans
Adrien Stern, CEO and founder of Reveel, a web3 revenue sharing platform for musicians, said right now NFTs are actually breaking genres rather than creating them.
Before NFTs, the next wave of internet musicians was creating music for virality in short video clips. “There is no doubt that artists have been freed creatively by NFTs. They no longer have to write music that will work on a 30-second TikTok video,” says Stern.
One example can be seen with NFT musician Sammy Arriaga, who leveraged his
Read more on cointelegraph.com
