HomeBusinessNFTHow NFTs Are Changing...

How NFTs Are Changing the Music Industry

NFTs have been a key resource for the expanding music industry, especially for emerging artists and upcoming music festivals. But how exactly have NFTs changed the music business?

NFT Funding

Numerous artists and music festivals require funding for their projects. These entities have used NFTs to offer value to their supporters and provided a convenient platform for their fans to support them.

Owning limited-edition NFTs have enabled fans to support their favorite artists but potentially owning an appreciating asset. For the artist, NFTs provide more freedom. Artists benefit from using a decentralized project such as NFTs by possessing control of the type of music they wish to release and also earning passive income by enabling subscriptions.

Some artists convert rare photos of themselves into NFTs and sell them to fans, making it another income stream. 

NFT Event Access

Music festivals wishing to sell tickets directly to their fans without a third party have found NFTs to be the answer. An NFT project such as Cocky enables investors to receive exclusive access to global music events. NFT owners who are unable to attend events in person can use Cocky’s platform to view live streaming of the events.

Cocky isn’t just another music festival organizer. It enables NFT holders to reap rewards by earning mutations. These appear as a stamp on an NFT’s background, enabling the holder to write his/her unique story to make the asset rarer.

Cocky’s NFTs are cans that have 51 skin variations and are colored in silver, gold and black lids. The 3-tier color system determines the benefits NFT holders receive at Cocky’s events. Some of the prizes include transportation to events, accommodation and special discounts.

NFT holders stand a chance to win exclusive VIP benefits for events if their cans blackout. Owning the black can NFT entitle the holder to VIP benefits infinitely.

Investors wanting to attend Cocky’s events can buy NFTs by holding a MetaMask, Coinbase or WalletConnect. The project is currently in the presale phase, so investors can own pre-minted NFTs.

To attend Cocky’s live electronic music events, NFT holders must be 18 years or older. The attendees are selected by an algorithm based on the most active Discord participants, random distribution from the pool and randomly selected members in the event’s geographical region.

NFTs Decentralize the Music Industry 

Music festival hosts such as Cocky have provided a transparent system via NFTs for ticket holders to minimize fraudulent activities and enable convenient and efficient purchases. Holders stand to benefit more than just having access to events by receiving rewards.

NFTs enable artists to directly connect with their fans and earn from them without an intermediary such as a record label collecting the majority of the earnings.

Most Popular

More from Author

Kilchoman Sanaig Àrd – A Peaty Powerhouse Crafted for Swedish Tastes

Kilchoman Sanaig Àrd is a bold and robust whisky designed with...

Cigluito Barbaresco Vie Erte 2021 – A Modern Vegan Classic In The Making

In the world of fine wine, few regions command the same...

Carnegie Småbolagsfond A – Named Best Swedish Equity Fund of 2024

Investment analysis firm Inveztly has recognized Carnegie Småbolagsfond A as Sweden’s...

Exploring Excellence: Skrea Backe Ocean Strength & Barrel Aged Series 2024

In the world of premium spirits, few names command the same...
spot_img

Read Now

Kilchoman Sanaig Àrd – A Peaty Powerhouse Crafted for Swedish Tastes

Kilchoman Sanaig Àrd is a bold and robust whisky designed with the discerning Swedish palate in mind. Building on the distillery's popular core range bottling, Sanaig, this edition has been elevated with a higher concentration and increased alcohol content—hence the name "Àrd," the Gaelic word for "high."...

Cigluito Barbaresco Vie Erte 2021 – A Modern Vegan Classic In The Making

In the world of fine wine, few regions command the same level of reverence as Barbaresco. Known for its finesse and structure, this northern Italian gem produces Nebbiolo wines that balance power with elegance. The Cigluito Barbaresco Vie Erte 2021 is a striking testament to this tradition—an...

Carnegie Småbolagsfond A – Named Best Swedish Equity Fund of 2024

Investment analysis firm Inveztly has recognized Carnegie Småbolagsfond A as Sweden’s best equity fund of 2024. The award highlights the fund’s outstanding risk management and strong performance, achieving a Sharpe ratio of 2.35 and an impressive 23% return for the year. “This recognition is a testament to our...

Exploring Excellence: Skrea Backe Ocean Strength & Barrel Aged Series 2024

In the world of premium spirits, few names command the same level of quiet reverence as Skrea Backe. Nestled in the scenic coastal region of Sweden, this artisanal distillery has built its reputation on a foundation of precision, innovation, and an unwavering dedication to craftsmanship. With the...

Investing in Youthfulness, Health, and Longevity with Stem Cells

In the ever-evolving world of health and wellness, stem cell therapy has emerged as a revolutionary approach to longevity. To gain deeper insights, Lifestyle Magazine sat down with Ersin Pamuksuzer, the visionary founder of TheLifeCo, to discuss the transformative potential of stem cell applications and the holistic...

Falcon Luxe Elevates Private Jet Travel with Ambitious Fleet Expansion

Dubai-based luxury jet operator Falcon Luxe is redefining private aviation with an ambitious fleet expansion set to add up to 40 new aircraft by the end of 2026. This move will bring Falcon Luxe’s total fleet to over 50 state-of-the-art private jets, reinforcing its status as a...

Discover Porto – Byon’s New Porcelain Collection

Porto is a celebration of color and craftsmanship—a porcelain collection that not only embodies Byon’s signature style but also brings the whimsical Byon table to life. Handmade in Portugal’s ceramic heartland, Porto boasts a classic design with a bold, chunky rim that feels both daring and effortlessly...

Perfume Free Schampoo & Conditioner

Swedish brand Björk Haircare introduces its first-ever Perfume Free Shampoo & Conditioner, combining high performance with care for sensitive skin and scalp. Dermatologically tested, Asthma Allergy Nordic-approved, and Swan-labeled, this duo sets a new standard for professional fragrance-free haircare. “With this launch, we provide a high-quality alternative for...

Heaven Can’t Wait!

Perched 104 meters above the ground atop the Skrapan building on Södermalm, Restaurang Himlen has long been celebrated for its unparalleled 360-degree views of Stockholm. Following an extensive renovation, this iconic establishment has embraced a renewed focus on classic Swedish cuisine, offering guests an authentic culinary experience...

Unlock the Secret to Radiant Skin with Kerstin Florian’s Skin Longevity

Achieving healthy, youthful skin is not just about addressing visible signs of aging—it’s about nurturing your skin’s natural ability to stay vibrant and resilient for years to come. Kerstin Florian’s Skin Longevity philosophy embraces a proactive approach to skincare, focusing on long-term strategies to enhance your skin’s...

A Sparkling Winter Delight: Vaux Blanc de Noirs 2022

As the winter gloom settles in, I’ve found the perfect way to add some sparkle to the season—Vaux Blanc de Noirs 2022. This exciting new Deutscher Sekt, crafted entirely from spätburgunder (pinot noir) grapes, will be hitting shelves in a limited release of 6,000 bottles on January...

How to Care for Your Skin During the Cold Months

The wintermonths are still here, and with it comes the chill that can leave your skin feeling tight, dry, and more sensitive than usual. The colder months demand a little extra TLC for your skin to keep it healthy, hydrated, and glowing. Here are some simple yet...