Music and NFTs are buzzing, but should you believe the hype?
Posted on: 12 mars 2021, by : Joe Sparrow

The music industry has got quite… well, let’s say “excited” about Non-Fungible-Tokens (NFTs) in the last couple of months. The headlines have been breathless and the figures eye-popping. Grimes sold $5.8m of NFTs in 20 minutes! 3lau sold 33 NFTs for $11.6m! The former boss of T-Mobile US paid Steve Aoki $888,888.88 for an NFT called ‘Hairy’! STONKS!
The hype is real. Twitter hosts – what else? – endless threads of people shouting at one another about the true nature of NFTs, while Clubhouse is home to many NFT and crypto-art clubs.
In calmer parts of the music business, experienced thought-leaders are convinced that NFTs are incredibly important. Shara Senderoff, president of music/tech investment firm Raised In Space, speaking at the NY:LON Connect conference in January, correctly predicted that NFTS were a trend about to “blow up”, due to the, “ability for a fan to purchase an asset that is scarce, that is limited, that is exclusive, and has potential offerings tied to that that make them as a loyal fan feel unique, feel rewarded.”
The post Music and NFTs are buzzing, but should you believe the hype? appeared first on Music Ally.
Source: Music ally

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