NAVYA C
KANUPRIYA MODI
NFT & Music : A New Digital
Revolution or A
Seasonal Trend
There ’ s a lot of buzz about NFT ( Non-Fungible Token ). Nonfungible essentially means something unique which cannot be replaced . NFTs can be anything digital ( right from drawings , music , and so on . There has been a rage about art NFTs all across the globe . However , Music NFTs are soon catching up . There are various people who have encouraged and brought the Music NFTs in the forefront . The NFT landscape is up for disruption and experimentation with people immersed in this trend which is taking a form of a revolution .
In late April , Metakovan , a Singaporean-Tamil entrepreneur purchased an NFT of Tamil singer-composer Kaber Vasuki ’ s 2012 demo version of a song called ‘ Vasanam ’ for the price of 50 ethereum , a cryptocurrency which amounts to ₹ 1.5 crore at the time of sale .
Just like how NFTs empower artists , they ’ re also empowering for musicians with patronage of a different kind . Internationally , musicians like Grimes , Deadmau5 , Mike Shinoda , Kings of Leon , RAC , among others , have been very active in this sphere .
Dallas-based Verdigris Ensemble created the ‘ Betty ’ s Notebook ’, a multi-layered , multimedia choral piece , which was taken by Metapurse , the world ’ s largest NFT fund for $ 2,15,989 ( 56.56 ETH ), but the sale was for more than US $ 375,000 in total .
More and more musicians are taking up the challenge and trying to experiment with music to make it to the auctions . It ’ s an interesting space with so much to explore and innovate . There are connoisseurs who value the art and are willing to reward the artists with incredible sums of moolah .
Disruption leads to change and change brings in empowerment . That ’ s exactly what NFT in music is doing . It is empowering musicians and moving away from the existing business models . It is indeed outstanding to see artists breaking the boundaries and making it big in the digital world .
Innovation has always led to the evolution of the human race . Digital has brought in the 4th Industrial Revolution with immense scope for growth and experimentation . Artists across genres would benefit with the umpteen possibilities in the world of NFTs .
However , one cannot predict if this is a seasonal trend or a digital revolution so soon . Time will tell how we harness the potential of the digital world and reap the benefits of a disruptive system . As long as it serves the interest of the artist community , it ’ s here to stay .
The lines between the real and digital world are soon blurring and a new reality is about to be the new normal . Making heads turn with exceptional art , artists are exploring a new realm of success and growth . If the momentum continues to pick up , the NFT in music would be super sensational . Innovation is always welcome in a world of new possibilities . Experimenting is the new definition of success .
For now , one piece of advice for the musicians : Go ahead , make path-breaking music and you never know , your music could fetch you millions ! Let ’ s keep an eye on what lies ahead for this world .
The Score Magazine highonscore . com
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