Probably a Label

What happens when you let 5,555 music fans make decisions at a major label? Warner Records is about to find out through its new Web3 imprint Probably a Label. After selling out a collection of NFT access-passes, the holders will now gather in a Discord server to help develop artists together, share the credits of any future awards such as a Grammy, and ultimately offer intellectual property rights in some of the projects to NFT holders. The experiment is a collaboration between Warner Records UK and Web3 brand Probably Nothing, whose debut NFT collection fetched $500k in seven minutes in October. Each NFT comes with different rarity and label roles (4,000 scouts, 1,500 managers and 55 label heads), allowing holders to vote on certain decisions. The rarest — and most expensive, currently at...