Kimmy Dickson

How Music Artists Can Make Money With NFT (Non-fungible Tokens)

They are music artists who just sold their music through NFT (Non-Fungible Tokens). Of all the transactions recorded so far, 3Lau’s recent sale fetched $11.3 million from an NFT auction. Think of NFT’s as permanent digital tokens assigned to an asset -- usually a piece of art, a song, a music track, a video (or a series of videos), a soundtrack, or even a digital meme. There’s no telling what an NFT can be tagged to, but once it’s done, the NFT is permanent and tracks ownership transfers, transactions, and more with regards to the specific asset. NFTs have held in blockchain -- the same technology backbone that also powers cryptocurrency such as Bitcoin, Ether, and others. When you create an asset (music albums, singles, or even kitchen-table music tracks), you can let your fans purchase NFTs (or bid on NFTs which make the underlying asset go up in value). As a music artist, it could be a promising new way to monetize your music.