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.

- A word from our sponsors -

spot_img

Most Popular

More from Author

Clint Eastwood’s “Unforgiven” Movie Ranch Lists for $25.5 Million

The 1992 film Unforgiven, directed by and starring Clint Eastwood, was...

Genesis X Convertible World Premier

Genesis has unveiled its stunning Genesis X Convertible concept at a...

Indian Motorcycle Announces 2023 Model Year Lineup

Indian Motorcycle, America’s First Motorcycle Company, today announced its 2023 model...

Helpful Christmas Gift For Your Loved Ones This Year?

We are approaching a few busy weeks with functions, dinners and...

- A word from our sponsors -

spot_img

Read Now

Clint Eastwood’s “Unforgiven” Movie Ranch Lists for $25.5 Million

The 1992 film Unforgiven, directed by and starring Clint Eastwood, was one of the most critically acclaimed Westerns of the 1990s. The recipient of four Academy Awards (Best Picture, Best Director, Best Supporting Actor, and Best Editing), the film was selected for preservation in the Library of...

Genesis X Convertible World Premier

Genesis has unveiled its stunning Genesis X Convertible concept at a special event in California. The four-seater convertible joins the X Concept and X Speedium Coupe to complete a trio of bold design studies that showcase the brand’s commitment to sustainable luxury and cutting-edge electric vehicle technology. Sharing...

Indian Motorcycle Announces 2023 Model Year Lineup

Indian Motorcycle, America’s First Motorcycle Company, today announced its 2023 model year lineup, featuring the new FTR Sport and Indian Challenger Elite, along with various model updates and new accessories across the line. In addition, the 2023 lineup features a variety of new colour options, highlighted by...

Helpful Christmas Gift For Your Loved Ones This Year?

We are approaching a few busy weeks with functions, dinners and events where cleaning is not at the top of that list. To be able to relax and spend time with friends and family, why not let Neato Robotics do the Christmas cleaning this year! Neato Robotics, a...

Water Green! – Reuse Water With The Stick Pump From RYOBI®

Reuse water from your garden with the ONE+™ stick pump. The stick pump helps you become more environmentally friendly by pumping collected rainwater from a water barrel that can be used for irrigation. RYOBI® has expanded into a new water pump market with the new stick pump....

Win a Luxurious Coffee Machine From Italian De’Longhi!

Do you also love coffee and long to start your day with a perfect cup at the touch of a button? Have you, like many other Swedes, also discovered how fantastic it tastes with coffee made directly from freshly ground beans? I f you answer yes to the...

Marilyn Monroe Homes – 60 Years After Her Death!

August 4th marked the 60-year anniversary of the death of Marilyn Monroe, who would be 96 if she were still alive. Still a sex symbol today, the blonde bombshell started as a pin-up model before branching out into cinema. Famous for her comedies, such as Some Like...

Rolex Middle Sea Race: Rising To The Challenge

The profile and reputation of the Rolex Middle Sea Race, organized by the Royal Malta Yacht Club (RMYC), has risen continuously since it was first held in 1968. Today, it habitually draws a diverse fleet of more than 100 yachts from close to 30 countries, including cutting-edge...

Doshi Presents New Accessories Using Luxury Vegan Leathers

Doshi, an eco-friendly, luxury vegan brand of work, leisure, and travel accessories, reveals a new line of products made with innovative cruelty-free materials. Handbags, backpacks, wallets, money clips, belts, and cardholders made with microfibre vegan leather, kraft paper, and Piñatex are among the company’s newly presented creations. Based in California...

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...

Immaculately Restored Aston Martin DB4

Hilton & Moss, the world-leading specialists in the restoration and sales of classic and prestige vehicles, reignites the spark of sixties motoring style for the modern road with a completely restored 1960 Aston Martin DB4. Rebuilt from every nut and bolt, wheels to roof, the Silver Birch-example of...

The Louis Vuitton Legacy Of Virgil Abloh In New Book Release

Louis Vuitton launches a new book that captures the journey and legacy of late Creative Director Virgil Abloh and all of his major highlights during his time at the French fashion house. Written by Abloh's close collaborator Anders Christian Madsen, who intimately portrays a man born to...