WHAT IS AN NFT, AND HOW COULD IT HELP THE MUSIC INDUSTRY? A GUIDE

Source | MixMag

Clarian – the first music artist to release a new album as an NFT – pens his thoughts on how the format could be game-changing for musicians

You may have noticed a lot of fuss in the music press and online over the last couple of weeks regarding Kings of Leon releasing an entire album as an NFT, or non-fungible token, via the Ethereum Blockchain.

What was less reported however, was that respected Canadian producer, DJ and musician Clarian beat the rockers to the punch and put up his new album ‘Whale Shark’ for auction as a rare one-off NFT one day earlier – officially becoming the first music artist to release a new album on this format.

Prior to that, other musicians have got stuck into the marketplace in varying forms. Jacques Greene auctioned the publishing rights of a single track, ‘Promise’, as an NFT, which sold for 7ETH (currently equivalent to £9,282.50).

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Acid House | Collectible NFTs