They have more control over how their music reaches the public, which allows them to have a larger share in their revenue, clear ownership over their work, and more autonomy over their own success.” “NFTs let artists release their own music, on their own terms. NFTs could shift the balance of power back toward the artists, says Mignoni. The NFT mixtape offers the stage to artists often underrepresented in the music industry, and empowers them to take greater control of their creativity. With this Mixtape, fans can own a piece of the success they help create.įor artists, the benefits are clear. Music fans already evangelize for the artists they love - that’s why they’re always asking for the AUX cord. So the more the tracks are played and loved, the more the owner earns. Top left: Bambii top right: Denise De’ion bottom left: Music Liberates Music NFT Mixtape bottom right: PERFXN.Īnd why would they want to do that? That leads us to the coolest “extra” of all - every purchase of an NFT Mixtape gives the buyer a percentage of the songs’ streaming royalties for a year. The album cover art for the BACARDÍ Music Liberates Music NFT Mixtape. In effect, the kits invite each fan to become a “social manager” who is equally invested in the music they love. In addition to an early release of the full tracks, buyers also receive a “Fanvestor Kit” complete with poster layouts, stickers, and social-ready assets to help spread the word about the artists. The resulting tracks were sold as a limited-edition NFT - available at $100 each through NFT marketplace STURDY.EXCHANGE, and each comes with a host of intriguing extras. Boi-1da hand-selected each artist for their innovative sounds, and worked closely with them to finalize their tracks for the MLM mixtape. Presented by BACARDÍ and award-winning producer Boi-1da, it features three rising women beatmakers who are making waves for their Caribbean-inspired sounds and production styles: Bambii, Denise De’ion, and PERFXN. Meet a mixtape unlike any other: The Music Liberates Music Mixtape. The wily, “what are they exactly?” quality of NFTs make them ideal sites for experimentation, which is one reason BACARDÍ chose the format for the third installment of its Music Liberates Music program, described by Laila Mignoni, BACARDÍ’s Global Head of Brand Marketing Communications, as an ongoing initiative to “champion and empower emerging artists and give them every opportunity to share their talent on a global scale.” This year’s edition puts the spotlight on underrepresented female producers in the music industry. “The NFT token is like a certificate of ownership, and since it’s recorded on this worldwide distributed network, anyone can easily validate who owns something and what that ownership entails,” says Deanna Audrey Hammond, Head of CX & Ops at NFT marketplace STURDY.EXCHANGE. Want to raise money to release an album without selling your idea to the suits at a record label? NFTs can do that - and a lot more.Īnd what makes NFT ownership of a digital asset different from, say, a downloaded song? That’s a little trickier to explain. Legacy and up-and-coming musicians are beginning to experiment with self-releasing their music as NFTs, and using NFT sales as a form of self-funding. While they’re currently most associated with the art world, NFTs are making inroads to music, too. And they’re quickly forming the basis of a brand-new, global digital art market: one that operates 24/7 from anywhere with Wi-Fi, and has created frenzied, multi-million dollar bidding wars over everything from fine art, to Tweets, to that classic driver of tech adoption - no, not that one, we mean cat memes. The much talked-about, little-understood digital tokens are now a multi-billion market, bigger than many well-established cryptocurrencies. NFTs, you might have heard, are kind of a big deal right now.
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