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Non-Fungible Tokens: Digital Deliverance, or Money for Nothing?

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Moderator: David Hazan
Music is always in search of new revenue streams โ€“ especially while live shows are in stasis. Non-Fungible Tokens, an outgrowth of blockchain (which the industry already embraces), could represent either a fad or a fortune. Put simply, NFT is digital โ€œownershipโ€ of a product or piece of work, though people can still copy it. Itโ€™s made sensational headlines with, for example, the sale of art by Beeple for nearly $70 million. But in music, itโ€™s like owning the master of a widely-downloaded song. While artists like Grimes, Deadmau5, Portugal, The Man and Shawn Mendes have sold โ€œrightsโ€ to collectible merch, Kings of Leon just became the first band to release an album in NFT, versions of which include backstage passes and other sweeteners for an eventual post-pandemic tour. YellowHeart has joined in with complete VIP-experience KoL concert tickets in NFT form. This panel will suss the value of virtual ownership, and its potential, real or imagined, as a revenue source and connector between artists and fans.
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3:00 PM - 4:00 PM
Monday, June 21, 2021

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