Source | Consequence of Sound
Over the past few months, Non-Fungible Tokens (NFTs) have taken off as a popular way for rich artists to get even richer and for everyday people to label themselves art connoisseurs. Everyone from Elon Musk to that viral Fleetwood Mac skateboarder have made hundreds of thousands by selling NFTs lately, and now M.I.A. wants to join in on the fun.
As we’ve previously reported, NFTs are one-of-a-kind artworks that exist on a cryptocurrency blockchain. While exact replicas of an NFT may be widely distributed on the internet, the NFT itself is a limited edition virtual property that can be bought, held, or sold. For example, Kings of Leon released NFT packages that featured their new album When You See Yourself a few weeks ago. While anyone can listen to the record for free online, only select (AKA affluent) fans can own it on the blockchain — and several were eager to do just that, as proven by the band generating a whopping $2 million in NFT sales.