The most talked about acronym in 2021 has to be ‘NFT’. NFTs or Non-Fungible-Tokens have become an omnipresent part of the music industry. Let’s take a look at today’s biggest NFTs in the music industry.
Hardik Joshi | BeatCurry Team
Simply put, an NFT is a one of a kind verified and irreplaceable digital asset which is stored using blockchain technology. They can include everything from music, merchandise, live performances, limited edition albums, concert tickets and all collectibles linked with the artist. With the music industry struggling in the digital era, lack of physical sales and live shows yet to be like earlier, NFTs came in as a blessing. The art industry was already tapping the NFT craze when musicians decided to follow them.
The potential was visible as every fan wants to be that ‘super fan’ who owns an exclusive asset related to the artist. Taking the NFT plunge has paid back and how! We take a look at 5 of the BIGGEST and BEST music NFTs yet!
Steve Aoki
One of the artists to realise the NFT potential was superstar American DJ and Producer, Steve Aoki. His debut NFT ‘Dream Catcher’, for which he paired up visual artist Antoni Tudisco is said to have fetched $4.25 million on one of the leading marketplaces for NFTs, ‘The Nifty Gateway’.
Kings of Leon
The band became the first to sell a newly-released album in the form of a NFT when they released their latest album, ‘When You See Yourself’ as a collection of NFTs. The NFTs were bundled up in 3 different packages called ‘NFT Yourself’. They contained a special album package, a live show package, and an audio-visual package, six ‘Golden Ticket’ auctions, which guaranteed four front-row seats to one show of every Kings of Leon headline tour for life. The result, over $2 million in sales.
Eminem
The Real Slim Shady’s debut NFT collection, ‘Shady Con’, has been estimated to have raked in more than $1.78 million. The collection included digital action figures of his characters from his music videos combined with original instrumental beats. It also included a unique video, Stans’ Revenge, accompanied by a rare pair of Eminem’s Carhartt Air Jordan trainers.
Grimes
From making TikTok videos to taking home a cool $7 million, Grimes made most of the NFT craze. Selling a series of 10 pieces on Nifty Gateway in February which included a combination of original artworks and short videos set to music, two works, titled ‘Earth’ and ‘Mars’ sold thousands of copies going for $7,500 each. A one-of-a-kind video called ‘Death of the Old’ managed to sell for a whopping $389,000.
RAC
The Grammy Award-winning Portuguese-American Producer André Allen Anjos might not be the popular name on this list but he sold a collection of NFTs related to his new record ‘YOU’ for a whopping $708,000, making it one of the highest sales till date. In fact it is more than his combined album sales over the previous decade.
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