Music NFTs are helping independent creators monetize and build a fanbase
The Agenda podcast chats with Adam Levy of Mint and rapper Jay Kila about nonfungible tokens, Web3 and the struggles of being an independent musician. The music industry is notoriously centralized, with major record labels often controlling nearly every facet of an artist’s career — from which songs they are allowed to release to what percentage of the royalties they keep and more. While the rise of streaming platforms like SoundCloud and Spotify has helped democratize the industry and made it significantly easier to get one’s music in front of more ears, it’s still an uphill battle to build a dedicated fanbase and generate enough revenue to survive. Enter music NFTs. For those in the blockchain space, nonfungible tokens represent an opportunity for fans to directly support their favorite artists, for musicians to build stronger communities with their listeners, and for content creators to build more substantial and sustainable income streams. To better understand the topic, Cointeleg...
