With the onset of the digital universe over the last decades, music has been steadily devalued with a race to the bottom pricing to give subscribers access to massive databases of music. Pandemic social shutdowns were another blow to musicians, who now couldn’t even generate revenue from live performances. In recent months, the emergence of NFTs, or non-fungible tokens, are breathing life into the industry as musicians are getting creative with ways to generate revenue and better connect with fans. An NFT is, in essence, a collectible digital asset, which holds value as a form of cryptocurrency and as a form of art or culture, and offers artists the ability to monetize their art or music. Music DeFi pioneer BAND Royalty (Profile) is taking NFTs to the next level by structuring them with the opportunity to access royalties from its constantly growing library of soundtracks. Just as Apple Inc. (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) shook up the music industry with their subscription services and exclusive content, NFTs are being hailed as the next great disruptor, which would likely benefit Riot Blockchain Inc. (NASDAQ: RIOT), Coinbase Global Inc (NASDAQ: COIN) and others already deep in the cryptocurrency and blockchain markets.
Total 281 Episodes