NFT
3LAU Sells Record-Breaking $3.6 Million NFT in First-Ever Tokenized Album Sale
Tonight, in record-setting and groundbreaking fashion, electronic music producer 3LAU sold a collection of limited edition NFTs for $3,666,666. The dance music vet and cryptocurrency pundit also broke the record in non-fungible token sales by selling 33 unique items for a total of $11,684,101. NFTs are unique digital collectibles that are truly one-of-a-kind and unable to be replicated. Stored on a decentralized blockchain, each item is exclusive to its owner and cannot be deleted or duplicated. NFTs have been a major boon in the COVID-19 era for music producers, who are actively seeking ways to recoup revenues lost from touring due to the impact of the virus. deadmau5, Feed Me, and 3LAU are a few of the many electronic music artists capitalizing on the NFT boom. The sa...
Monstercat’s NFT Debut Generates $180,000 in Just Two Minutes
Although most of the world is preoccupied with gaming the stock market, Monstercat has broken into the lucrative realm of non-fungible tokens or NFT. For those who haven’t caught the wave, NFTs are virtual collectibles similar to items found in video games. Oftentimes digital art or audio, the collectibles are powered by blockchain technology and are exclusive to the purchaser. For their digital debut, Monstercat released two separate drops on the NFT marketplace, Nifty Gateway. Dubbed, the ORIGINS Collection and Constellations Pack, the new collectables were designed by the digital artist, Giant Swan, and soundtracked by Varien. Before they hit the market, on Twitter, the label shared a preview of the two drops, showcasing some of the sights and sounds inside. A ...
