Artists
Web3 can help artists and companies manage music metadata: B2B music exec
The music industry has not shied away from its keenness on adopting Web3 solutions. From nonfungible tokens (NFTs) helping artists connect with their communities to blockchain being used for various use cases including event ticketing. Another relevant implementation of the technology to be considered by industry insiders is how Web3 tools can help artists and companies manage music metadata. Cointelegraph spoke with Con Raso, the managing director of B2B music streaming technology provider Tuned Global, to better understand this use case. In the current Web2 music industry, numerous organizations are dedicated to the management of music metadata, along with its licensing. Though with Web3 developments like NFTs, which can identify each individual usage via blockchain, data management ques...
Party-to-earn: Blockchain breaking down the doors in electronic music community
Electronic music is big business. According to a report by the International Music Summit, in 2021, the electronic music sector was valued at $6 billion dollars and that sector is poised for significant further growth. That $6 billion dollar figure marks a 71% increase from the industry’s valuation in 2020, which was understandably much smaller due to the effects of the pandemic. While revenue is down from where it was in 2019, barring further massive disruptions, the industry is on pace in 2022 to surpass its pre-pandemic heights. This should be great news for artists and music lovers alike, but there is a caveat. As electronic music continues to flourish, access to festivals and concerts — the heart of the electronic music scene — has become increasingly exclusive. The price of concert t...
Will museums of the future just be giant NFT galleries?
Museums, individuals and metaverse initiatives have used nonfungible tokens (NFTs) as a new means for reinventing themselves before their fans. The family of Frida Kahlo unveiled never-before-seen art and personal artifacts of the artist at an exclusive event on the Decentraland metaversplatform for its art week in August. In Belgium, the Royal Museum of Fine Arts Antwerp became the first European museum to tokenize a classic art masterpiece worth millions of euros. The Kharkiv Art Museum in Ukraine launched a new NFT collection with Binance to preserve their cultural heritage and raise funds amid the ongoing regional conflict. However, as everything becomes tokenized, questions arise. Will museums in the future just be giant NFT galleries with every piece of art having a digital...
Can NFTs democratize scheduled programming of TV in the Web3 era
Nonfungible tokens (NFTs) leave almost no part of the physical world untouched. From museums and major fashion brands like Gucci adopting the technology to digital items to musicians breaking archaic song rights distribution methods. Now even television, or in a streaming era — scheduled programming, is taking on NFTs as a means of crowdfunding programs. NFTV is streaming crypto-themed content but using NFTs as the backbone to crowdfund shows while providing viewers with some say in what’s on deck. Each program has a set of related NFTs, which give creators the reins of their projects, rather than giant media houses, while holders have the chance to contribute content. Greg Cipes, co-creator of NFTV, spoke with Cointelegraph to discuss the fine line between content democratization and an a...
What are CC0 NFTs, and why are they important?
As the Web3 world has largely promoted transparency and openness with code, NFT creators and teams are also opting for the same with art. However, that is just the beginning of the journey, and these nonfungible token creators and communities must realize that. CC0 can sometimes be portrayed as a logical conclusion where the NFT creators hand over the process of building on their creation to their community and beyond. Some NFT collections have had several derivative projects promoting the culture of the NFT almost as brand extensions. However, declaring a project as CC0 is just the beginning. NFT project teams and creators who take the CC0 route must actively promote the use of the brand and onboard other creators and projects to build brand extensions to their NFT collections. ...
Latin Grammy Awards signs three-year contract for award show NFTs
This year’s 64th Latin Grammy Awards will have its first-ever nonfungible token (NFT) collection after the Latin Recording Academy signed a three-year contract for award show-related NFTs. The aforementioned partnership is between the Latin Recording Academy, which is behind the Latin Grammys, and OneOf, a Web3 music platform. Each collection, which will lead up to that year’s award show, will include drops highlighting Latin music. According to Manuel Abud, the CEO of the Latin Recording Academy, this is a new form of musical innovation and a way for fans to “own a piece of the Latin GRAMMYs:” “The Latin Recording Academy is committed to exploring innovative, new ways to celebrate excellence in Latin music and to connect music to other art forms in our culture, including visual and digita...
Music NFTs a powerful tool to transform an audience into a community
As one of the oldest entertainment industries in existence, the music business has experienced many technological advances that enhanced widespread adoption. The digitalization of music meant that artists could reach any audience across the world, and digital distribution gifted people with unlimited access to music. With these advances in distribution came some drawbacks in music monetization. The way musicians make money in a digital format has reduced margins from media or video revenue. Artists have been pushed back to generating revenue from offline endeavors like concerts and selling merchandise as the online landscape has been filled with intermediaries that take a piece of the pie. “Web3 and existing platforms help us build a new chapter of the music industry.” Takayuki Suzuk...
Web3 is creating a new genre of NFT-driven music
Music-related use cases for Web3 technologies are piling up as the industry goes all in on adoption. From democratizing song rights royalties and blockchain licensing to legacy companies like Sony Entertainment filing patents for nonfungible token-authenticated music. While electronic dance music and pop seem to be picking up the most attention in terms of NFT music, they’re even making a difference in more traditional areas like opera. However, just like any new and novelty tool, there are creators who live off the hype. This is often seen with “shitcoins” and pump-and-dump NFT projects, both of which have little to no value or long-term utility. As music NFTs become more popular, the hype follows. Hundreds of music NFT projects are popping up on Twitter, creating what can be se...
Blockchain and NFTs are changing the publishing industry
Web3 has become the most sought-after investment sector of 2022, as use cases for nonfungible tokens (NFTs), the Metaverse and other blockchain applications come to fruition. Therefore, it shouldn’t come as a surprise that different segments of the publishing industry have begun to use Web3 technologies to transform traditional models. For example, the textbook publishing giant Pearson recently announced plans to use NFTs to track digital textbook sales to capture revenue lost on the secondary market. Time magazine, which was founded 99 years ago, has also been using NFTs to create new revenue streams, along with a sense of community within the publishing industry. Keith Grossman, the president of Time, told Cointelegraph that the magazine is demonstrating the new possibilities of en...
Life-changing money: The 10 most expensive NFTs sold to date
Nonfungible tokens, or NFTs, are turning out to be a treasure store with prices striding into the millions of dollars. Instances of an NFT garnering more than $69 million or a tweet fetching $2.9 million are not a fantasy, but an incredible reality. In 2021, an NFT by digital artist Beeple, or Mike Winkelmann, sold for a whopping $69 million, making NFTs a media hotshot and opening the floodgates for a string of other NFT sales, many of these in millions of dollars. Prompted by the plentiful talk about NFTs, stars like Paris Hilton, Lindsay Lohan, Eminem, Grimes and many more have hopped onto the NFT bandwagon. In 2022, NFTs have been garnering attention from investors, artists and collectors alike. Let’s take a glance at the 10 most expensive NFTs sold to date: Beeple’s Crossroads — $6.6 ...
Chinese court rules marketplace guilty of minting NFTs from stolen artwork
A court in the Chinese city of Hangzhou ruled a one-of-a-kind judgment against a nonfungible token (NFT) marketplace for allowing a user to create (or mint) NFTs of stolen artwork. As reported by South China Morning Post, the court verdict toward the NFT marketplace was made after Shenzhen-based company Qice filed a lawsuit against NFTCN’s parent company, BigVerse. The lawsuit claimed that an NFTCN user stole a copyrighted artwork of Ma Qianli, a Chinese artist specializing in drawing and printing. The user of the NFT platform allegedly poached one of Ma’s creations of a cartoon picture. Based on the evidence collected, the court found the NFTCN platform guilty of not checking for forgery or intellectual property (IP) theft prior to allowing users to mint NFTs. As a result, NFTCN was charg...
While men wanted, women did: Empowering female creators with NFTs and crypto
With the blockchain industry growing at lightspeed, businesses are actively and, even desperately, seeking out talent; and there just doesn’t seem to be enough manpower out there. Enter women — literally around 50% of the global population that has, so far, been heavily underrepresented in crypto. With most developers being men, it’s understandable this still dev-led space noticeably lacks female contributors, but as the industry surges, womanpower is needed. And, so, women have begun slowly and steadily entering the crypto space and the world of nonfungible tokens (NFTs). While only an estimated5% of women own NFTs, and5-15% are creators or founders of collections, the impact of female-led NFT projects is profound. Unlike the mass of solely artistic projects, these female-led NFTs show a ...
- 1
- 2
