led an initiative called “NFT Yourself” which offered special perks like front-row seats to live, in-person shows and exclusive audio/visual art.
While the rise of streaming music has given consumers the ability to listen to their favorite artists at any time for a flat monthly fee, artists have been left behind. Platforms keep about 30% of the revenue, and after the music publisher and record label take their share, not much is left for the musician themselves. With music NFTs, there’s no middleman involved, enabling the artist to collect more profit from their hard work.
When Lin approached Quincy Jones, one of the earlier adopters of Spotify, Jones immediately realized the potential for artists, saying “NFTs are more important than what streaming technology has done for the music industry.”