What is a music NFT?

Normally, music NFTs only certify on-chain ownership of a token tied to a music file. They don’t confer any more rights beyond that – no royalties, most importantly. But there are platforms seeking to change that. Royal helps artists mint royalty-bearing NFTs, which they call Limited Digital Assets, or LDAs.

Are music NFTS a flaw?

Benji Rogers, who instructs the Music Business Trends and Strategies course at Berklee Online and is co-founder of the digital strategy consultancy Lark 42, sees this investor-investee dynamic between artists and fans as a flaw of music NFTs. “The future of the music industry is in artist-to-fan connection,” says Rogers.

What are NFTS & how can musicians sell them?

So let’s dive into the world of NFTs to explain WTF they actually are, what they mean for the music industry and how musicians can start selling them. What is an NFT? An NFT (which stands for Non-Fungible Token) is a unique digital asset stored on the blockchain.

Are music NFTS a fungible token?

Although many people associate non-fungible tokens ( NFTs) with digital pictures sold as blockchain-based assets, there are many other applicable categories. One fast-growing ecosystem in the NFT industry is music NFTs. On the surface, music NFTs may appear like the blockchain alternative to buying tracks on iTunes.