Many people associate NFTs with digital pictures that can be sold as blockchain-based assets. NFT industry has many growing ecosystems and music NFTs is one of them.
Musicians, Blockchain and NFTs: What Unites Them?
NFTs are not just JPEGs or GIFs as many people are already accustomed to it. One of the use cases of NFTs is the ownership of music and music clips. Songs, music albums, lyrics and even soundbites can all be NFTs.
Buying tracks on iTunes and Music NFTs: what’s the difference?
People are used to buying tracks on iTunes, thereby getting the right to listen to it. There is no asset ownership on iTunes but a license to listen to what you have paid for.
On the contrary, music NFTs let people not only to listen to tracks but also to get the ownership through NFTs.
Why To Buy Music NFTs?
What to buy music NFTs if I can listen to music for free? The answer to this question is pretty simple:
People buy GIFs and JPEGs to find value in ownership and profit from it. Same goes with NFTs. Also, people buy music NFTs if they believe in artists or they like him. In this case, NFTs can help to become closer to a musician.
For others, it could be financial exposure to an artist who they believe will become a success. After all, if the artist succeeds the value of the music NFT they’ve invested in could rise.
Currently, there are not that many musicians who are exploring the viability of music NFTs. However, with increased knowledge and adoption by fans, the opportunities for artists to benefit from the sale of music NFTs are growing substantially.
