NFT has become an important resource for the expanding music industry, especially for emerging artists and upcoming music festivals. But how have NFTs changed the music business?
NFT funding
Many artists and music festivals need funding for their projects. These entities use NFTs to deliver value to their supporters and provide a convenient platform for fans to support.
Owning a limited edition NFT allowed fans to support their favorite artists, but could also own a valuable asset. For artists, NFTs offer more freedom. the artist is Decentralized project Such as NFT where you control what kind of music you want to release and earn passive income by enabling subscriptions.
Some artists convert rare photos of themselves into NFTs and sell them to fans for another source of income.
NFT event access
Music festivals looking to sell tickets directly to fans without a third party have found NFT to be the answer.Ann NFT project Investors like Cocky get exclusive access to global music events. His NFT owners who can’t attend the event in person can use Cocky’s platform to watch the event live streamed.
Saucy We are more than just a music festival organizer. This allows NFT holders to be rewarded for acquiring mutations. These appear as stamps on his NFT background, allowing the owner to write their own story to make the asset even rarer.
Cocky’s NFT is a can with 51 different skin variations and silver, gold, and black lid coloring. A three-tiered color system determines the perks his NFT owners will receive at Cocky’s events. Some of the prizes include transportation to the event, accommodation and special discounts.
NFT holders have a chance to win exclusive VIP perks for the event if the can goes out of power. Owning Black entitles the NFT owner to unlimited access to his VIP perks.
Investors who want to attend Cocky events can buy NFTs by holding MetaMask, Coinbase, or WalletConnect. The project is currently in the pre-sale stage, so investors can own his pre-made NFTs.
NFT holders must be at least 18 years of age to attend Cocky’s live electronic music events. Participants are selected by an algorithm based on the most active His Discord participants, a random distribution from the pool, and randomly selected members in the geographic region of the event.
NFTs decentralize the music industry
Through NFTs, music festival organizers such as Cocky have provided ticket holders with a transparent system, minimizing fraud and enabling convenient and efficient purchases. Holders don’t just get access to events by receiving rewards.
NFTs allow artists to connect directly with their fans and earn income from them without middlemen such as record labels that collect most of their income.
