The Best Music NFT Moments Ever
The COVID-19 pandemic effectively eliminated all of a musician’s major sources of income in 2020. Live performances came to an end, sales of merchandise slowed to a halt, and the money stopped flowing. The months dragged on without anything improving. But after a new genre of music art emerged, it was inevitable that the music industry would adopt non-fungible tokens in 2021. (NFTs).
This decision was unavoidable, as we say. Independent musicians in particular were especially eager to find new sources of income for their work. Additionally, technology has always been inextricably linked to the music industry. The early adopters have therefore always been those who work in the field. They frequently purchase novel goods and technologies ahead of artists.
We’ve already seen several innovative NFT music collaborations. And at this point, one thing is sure: Music NFTs will continue to revolutionize the way that musicians and fans create community (and art) together. Now that the possibility of sharing wealth within an independent, digitized ecosystem of fans and creatives has been actualized, the future of the music industry seems even less predictable than it did during the global COVID pandemic.
So to track how things develop, we’ve partnered with Coinbase and UnitedMasters (who recently came together to pay out musicians in cryptocurrency) to chronicle the music NFT moments that make the most waves — historic moves that signal a paradigm shift in the way the music industry operates. To make these easier to understand, the events are listed in mostly chronological order.
THE TOP 10 LIST
1. Jacques Greene sells his music rights via Foundation
2. 3LAU raises $11.7 million with Ultraviolet NFT album
3. Launch of Catalog, first platform for audio NFTs
4. Grimes, Steve Aoki sell millions in NFTs
5.Kings of Leon is first band to release LP as NFT
6. RAC launches SixNFT agency
7. Delphi Digital purchases “The Disclosure Face” for $125K
8.Don Diablo sells first full-length concert film NFT
9. VÉRITÉ becomes first artist to auction master recording rights in perpetuity
10. First CryptoPunk rapper Spottie WIFI sells $192,000 in music NFTs