With the chaos created in 2020, musicians, artists and in this case DJ/producers have had to look for new ways to connect with the public and how to keep their song generating revenue. One of these new technologies are Non-Funglible Tokens (NFT) which continue to change the way in which the song, and the art, is being monetized, even though this is still in a very empirical phase, the future of the song could be in the NFT.
But what exactly is an NFT?
NFTs came to market in 2017, but recently artists have been using them to sell exclusive, scaled-down merchandise in the form of digital artwork.
The benefit of NFTs is that they enable their creators to make a pretty good chunk of money for a piece of artwork, digital animation, video clip or tune, via a blockchain, which are transactions that allow you to store information that can never be lost, changed or deleted.
DJs/Producers who have started selling NFT music.
Daft Punk
Prior to their split, the duo issued several collectible NFTs on the Rarible platform, now that they are no longer together, the cost of them is quite high. These NFT were sold to some celebrities registered on that platform, one of them is Lindsay Lohan, who after the announcement of Daft Punk's split made the decision to sell her NFT for $15,000 USD.
3LAU
The US producer 3LAU has taken really good advantage of this new way to monetize the tune, he even got a record of sales with NFT song. By the way he has made his own website to sell this kind of digital bins, one of them is a platinum vinyl that can be redeemed for a custom tune made by 3BLAU, you can also buy entry to unreleased song that includes a physical vinyl.
Deadmau5
Launched its first NFT in December 2020, it was a video and became one of the largest single transactions to date at $49,777 USD.
largest single transaction to date worth $49, 777 USD. Seeing the benefit of
NFTs he also created his own company called "RAREZ", his first sale was of 6000 starter packs of digital collectible of 6000 initial packs of digital collectibles, sales were around $96, 940 USD.
Steve Aoki
Aoki recently announced the commercialization of his first NFT art collection, called "The NFT Art Collection", which will take place on March 7th at 1pm in Mexico City.
On March 7, at 1pm in Mexico City, those interested will be able to enter the website to bid and should accelerate their initiative because certain objects will be sold for only 5 minutes, while others for up to 24 hours. The term involved the world-renowned 3D illustrator Antoni Tudisco, who together made 11 parts, several of which integrate physical objects.
If you are likely to get any goods of this type it is a pretty good alternative to invest, or simply to have a music, video clip or album of your favorite DJ, which no one else will have, with the era could return the money you spent double or more.