The popular rock band Kings of Leon says that they will release a music album as an NFT as they are the future of how artists interact with the public so let’s read more in our altcoin latest news today.
The popular rock band Kings of Leon will now become the first artist to release an album as an NFT according to the publication in the Rolling Stones today. NFTs or non-fungible tokens are cryptographic representations of tangible or non-tangible items on the blockchain that prove the ownership of the holder of whatever they hack like art, real estate, or in-game assets. The sector saw muted growth in the past few years and surged to $3.44 billion in the past few months.
By itself, trivial. But it unlocks all sorts of game changing stuff. It lets the musician have a direct relationship with the buyer. They can communicate or airdrop (like merch, tickets and more directly), transparency into their fan base, cross-promotion etc. /1 https://t.co/OUf3CHgaVZ
— Ari Paul ⛓️ (@AriDavidPaul) March 3, 2021
The technology allows the peer-to-peer exchange of the ownership of assets that can reward the creators fairly which is a strong benefit that the band wants to capture. Josh Katz, the CEO of Yellowheart which is a blockchain-based ticketing company said:
“Over the last 20 years — two lost decades — we’ve seen the devaluation of music.”
Katz noted that the music industry becomes quite good at selling “everything except music” and continued:
” “There’s been a race to the bottom where, for as little money as possible, you have access to all of it.”
This all changed with NFTs because people will use them even more to release their tracks. When they sell about 100,000 at a dollar each, they just made $100,000 as Katz noted. Kings of Leon will drop three types of tokens that are part of the series called NFT Yourself according to people that are already involved in the project. One type will be the special album package and the second type will offer live show perks like front-row seats for concerts. The third type will be reserved for exclusive audiovisual art. All of the types offer digital art designed by “Night after Night” and also, Yellowheart will mint 18 unique golden ticks and out of 18, 6 will be auctioned by the band and the remaining will be placed as a vault:
“Each one of those is a unique NFT with the most incredible Kings of Leon art you’ve ever seen.”
The launch was met positively as Ari Paul who is the founder of BlackTower Capital who said that NFTs will unlock other game-changing stuff that lets musicians have a direct relationship with the buyer.
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