NFTs democratize music industry and redistribute song rights

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Could you earn royalties by listening to your favorite songs? A new NFT initiative will make that a reality.

into new releases to benefit both artists and their fans.

The single, “Weekend on a Tuesday,” debuted bundled with an exclusive NFT. Each of the 250 NFTs available entitles the holder to a 0.02% share in the streaming revenue. Anotherblock’s platform provides a value tracking tool so holders can estimate payouts and overall value.through extra exclusives tied to the NFT. Typically, extras include artwork, additional music or behind-the-scenes material.

“Music rights’ value is created by people loving and listening to the music, and doing things with it. Why shouldn't [they] be able to own rights if they create the value by listening to it. They should be able to get some of the upside as well.”from primarily record labels and music catalogs to include more of the artists themselves and also the fans can be looked at as a"democratization" of the music industry.

This is where I got the confirmation to dive into the NFT space and provide my fans with this opportunity.”

 

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