Music NFTs a powerful tool to transform an audience into a community

As one of the oldest entertainment industries in existence, the music business has experienced many technological advances that enhanced widespread adoption. The digitalization of music meant that artists could reach any audience across the world, and digital distribution gifted people with unlimited access to music.  With these advances in distribution came some drawbacks in music monetization. The way musicians make money in a digital format has reduced margins from media or video revenue. Artists have been pushed back to generating revenue from offline endeavors like concerts and selling merchandise as…

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Christie’s launches venture fund aimed at Web3 and blockchain investments

Christie’s, the auction house known for its sales of art and luxury items, has launched an investment fund to support emerging companies with technology enabling “seamless consumption of art.” In a Monday announcement, the auction company said the fund, Christie’s Ventures, will financially support firms in Web3, “art-related financial products and solutions,” and technology related to art and luxury goods. According to Christie’s, its first investment will be in LayerZero Labs, a company developing solutions for enabling omnichain decentralized applications, allowing a more seamless transfer of assets between blockchains. “We…

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Ashanti aims to bring women to Web3, says “owning is important” at NFT music meetup

The billion-dollar music industry is undergoing a major transition as artists begin to understand the potential of owning their work through nonfungible tokens (NFTs). Ashanti, the multi-platinum-selling singer, actress and co-founder of EQ Exchange — a women-led Web3 platform — recently shed light on this during a Cotton Candy Records meetup that took place on June 20 in New York.  Speaking on a panel alongside Janice Taylor, founder and CEO of EQ Exchange, Ashanti went into detail about how important ownership is for creators today. Drawing from personal experience, Ashanti…

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AI-generative art predicted to be next trend for NFT sector

[ad_1] Sales of nonfungible tokens, or NFTs, reached $25 billion in 2021, demonstrating that the sector is one of the most sought-after markets in crypto. Art NFTs, in particular, made a big impact last year with Christie’s reporting over $93 million in nonfungible token sales during its fourth annual Art+Tech Summit that took place this past August.  While notable, much of the crypto art scene appears to be dominated by cartoons and memes, as projects like CryptoPunks and Bored Ape Yacht Club have taken center stage. Although these projects are some…

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NFT, Art, Fidenza, Art Blocks, curated, generative art, opensea

[ad_1] Computer scientist turned generative artist Tyler Hobbs writes code artistically, which then creates visual art that has sold for millions. Along with 998 siblings, Fidenza #313 was minted for 0.17 ETH on June 11th, after which it was immediately sold for 0.58 ETH. Just over 10 weeks later, the NFT nicknamed “Tulip” sold for 1,000 ETH on Opensea —  $3.3 million at the time. Fidenza is the brainchild of Tyler Hobbs, 34, who quit his computer engineering job to work as a full time artist. He struck ETH when…

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British artist Damien Hirst uses NFTs to blur the boundaries between art and money – Cointelegraph Magazine

[ad_1] “I used to give a lot of art away to people,” reflects Damien Hirst at one of his sprawling west London studios. “And they’d always sell it after a lot less time than I thought they would. You know, they wouldn’t sell it for leukaemia treatment for their children or mother or something, they’d sell it to buy handbags. And I’d be like, ‘Damn, I hate that!’” Hirst is not on a quest to make a few bucks from a collectible NFT. He’s not particularly interested in celebrating career…

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Bringing contemporary pop art to an NFT metaverse – Cointelegraph Magazine

[ad_1] The realm of metaverses is growing, with gaming, nonfungible tokens and contemporary performance art all contributing to create interactive and immersive digital-only ecosystems. “Welcome to Lobsteropolis District of Lobster Land” is the welcome notice that greets netizens upon entering Lobsteropolis city. Existing within the blockchain-based virtual world Decentraland, Lobsteropolis is a digital-only city based on British contemporary artist Philip Colbert’s Lobster Universe. The ambitious project offers arguably more than a glimpse into the emerging movement at the intersection of art and blockchain technology, more specifically, open-world spaces that allow…

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‘Once in a While You Get Shown the Light’— Jerry Garcia Art to be Auctioned as an NFT for $1 Million – Bitcoin News

[ad_1] The now-deceased and former lead guitarist for the Grateful Dead, Jerry Garcia, will have a rare piece of his artwork sold as a non-fungible token (NFT) collectible asset. The NFT is a digital piece called “Gift” and is being sold by the Jerry Garcia Foundation, a nonprofit that supports “environmental, artistic and humanitarian causes through the beauty of music and art.” ‘One Man Gathers What Another Man Spills’ On May 5, The Jerry Garcia Foundation released a newly minted NFT for auction called “Gift,” a piece of artwork crafted…

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Top Auction House Sotheby’s to Accept Cryptocurrencies via Coinbase for Physical Art – Bitcoin News

[ad_1] Sotheby’s, the world’s largest auction house, will start accepting cryptocurrencies for physical art. The first auction for which bitcoin and ether will be accepted is Banksy’s Love is in the Air image at the Contemporary Art Evening Auction. The piece is estimated to sell for between $3 million and $5 million. Sotheby’s Accepts Bitcoin and Ether Sotheby’s announced Tuesday that it will start accepting cryptocurrency via Coinbase. According to the auction house, this is the first time cryptocurrencies will be accepted for payments for physical art. Established in 1744,…

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Overpriced crap or new art history? – Cointelegraph Magazine

[ad_1] It’s been a heady few weeks for commerce and art. Surely a revolution is afoot and we’re too mired in the hot mess to see it right. With that proviso, here are two notes from the front lines. NFTs are cutting-edge, digital art ain’t Some folks say the non-fungible token (NFT) that allows a digital artwork to be possessed exclusively by a purchaser is traceable to the creation of Colored Coins in 2012 — or to CryptoPunks in 2017 — even though the this market exploded just the other day.…

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