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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Warner Music Group partners with OpenSea to create more Web3 opportunities for artists

On Sept. 29, global music and entertainment company Warner Music Group (WMG) announced a partnership with nonfungible token (NFT) marketplace OpenSea to provide a platform for select musical artists to build and extend their fanbase into the Web3 community.  According to the release, the collaboration between these two entities will allow select WMG artists to get early access to OpenSea’s newly rolled-out feature, which enables artists to launch their NFT collections and limited-edition projects on their own customizable and dedicated drop pages. These WMG artists will have access to personalized storytelling…

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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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Universal Music Group Partners With Curio — Entertainment Giant Plans to Use NFT Platform for Labels, Recording Artists – Bitcoin News

[ad_1] The multinational music corporation  Universal Music Group (UMG) announced the company has partnered with the non-fungible token (NFT) platform Curio on Thursday. UMG says Curio will be a “dedicated global outlet for future officially licensed NFT projects” for the company’s labels and recording artists worldwide. Curio Platform Will Be Universal Music Group’s Dedicated Global Outlet for NFTs Following the UMG’s non-fungible token (NFT) metaverse music group project featuring four Bored Ape Yacht Club (BAYC) NFTs, the music-based entertainment company has revealed a new partnership with the NFT company Curio…

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NFT music platforms to disrupt Spotify in 2022, Saxo Bank predicts

[ad_1] As popular music streaming services like Spotify cut much of musicians’ revenues, new technologies like nonfungible tokens (NFTs) are likely to help artists grab back their fair share, Saxo Bank predicted. According to one of Saxo Bank’s Outrageous Predictions 2022: Revolution, music creators would benefit from NFT-based streaming platforms as they allow distributing music directly to listeners without centralized middlemen charging a fee. Saxo Bank’s cryptocurrency analyst Mads Eberhardt argued that mainstream music streaming platforms like Spotify and Apple Music take a substantial cut, which together with the cut…

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Online content streaming is dead. Long live the music NFTs

[ad_1] The music industry has undergone a massive transformation in recent years. We have seen the advent of the internet leave its mark on music, and most notably, 1999 spelled the coming of Napster. This then-revolutionary peer-to-peer online streaming service defined a whole generation and enabled musicians to share their creations with the world. Streaming has become the dominant format for music today, through Apple, Amazon, Tencent Music and the clear category winner — Spotify. The goal of distribution services and platforms like Spotify is to enable and empower artists…

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Post Malone features BAYC NFTs in new music video with The Weeknd

[ad_1] Rapper Post Malone is the latest celebrity to move into nonfungible tokens (NFT) by promoting a major NFT project and a cryptocurrency firm. In his latest collaboration with The Weeknd, a music video for “One Right Now,” Malone purchased an NFT from Bored Ape Yacht Club (BAYC), one of the world’s biggest NFT collections featuring 10,000 unique digital collectibles living on the Ethereum blockchain. In the video, Malone buys the NFT via MoonPay, a fintech startup focused on providing cryptocurrency payments infrastructure. The firm reportedly plans to reach a valuation…

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Music Company Founded by Dr. Luke Enables Bitcoin Payments for Songwriters and Producers – News Bitcoin News

[ad_1] Bitcoin mainstream adoption is not limited to celebrities endorsing the cryptocurrency via social media or interviews on TV. The music industry is also interested in joining the bandwagon, with an independent publishing company recently enabling bitcoin payments. Bitcoin Adoption Comes in Response to the Requests of Prescription Songs Creators According to Variety, Prescription Songs, founded by Dr. Luke (Lukasz Sebastián Gottwald), is now offering its roster of producers and songwriters the option to send payments in bitcoin (BTC). The feature is possible thanks to a partnership signed with crypto…

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Piracy Will Cost Billions to the TV and Music Industries

[ad_1] With the evolution of the Internet, piracy has become increasingly more sophisticated. It’s biggest victims however, are probably music artists and actors. In the last year’s forecast of Digital TV Research, it’s mentioned that the TV series and film could reach a revenue loss of over $50 billion by 2022. This is all attributed to online piracy and those rough estimations do not include sports, pay-per-view and other forms of media content. The real number would be quite higher. If we’re looking at the scale of worldwide blockchain adoption,…

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