Cash ‘gifts’ and strong-arm tactics: music’s problem with NFTs

Source | The Guardian

Just as livestreamed concerts moved from esoteric to ubiquitous at light speed this time last year, NFTs (non-fungible tokens) are suddenly everywhere in music. Artists including Gorillaz, Calvin Harris and Kings of Leon have all jumped on the bandwagon in search of an art-tech utopia – and a payout.

At the end of February, Grimes sold 10 pieces of digital artwork as NFTs for $6m, while Deadmau5 has offered bundles including music and collaborative artwork. The Weeknd generated $2.2m by selling digital artworks with clips of a new track, as well as a single work that includes the full track, which he says will not be released anywhere else in the future.


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