Artists like Clarian are now having a go at the system after 3LAU made 11.6 million on NFTs.
NTF, or ‘Non-Fungible Tokens’, are each unique and can’t be replaced with something else. A one-of-a-kind trading card. If we traded one card for another one, we’d end up with something completely different.
Created by Origin Protocol and supported by Dshop, an auction for the world’s first tokenized album, 3LAU’s ‘Ultraviolet’, closed with a record 33 NFTs sold for almost $11.6 million.
NFTs can really be anything digital, but a lot of the current excitement is around using the tech to sell digital art. They are designed to give you something that can’t be copied: ownership of the work (though the artist can still retain the copyright and reproduction rights, just like with physical artwork).
The auction for 3LAU’s ‘Ultraviolet’ took place from February 25th to 28th, where the artist turned cryptocurrency influencer celebrated the three years since the release of his album ‘Ultraviolet’, making it the first in history to be tokenized. The auction featured 33 different NFTs that, sold separately, allowed buyers to get hold of these unique and unrepeatable works of art, ‘one-of-a-kind digital collectibles’.
‘I am excited to help bring power back to artists. This is the first step in a longer mission to connect artists directly with their fans and allow artists to capture the value they create in the world’, said 3LAU about the experience and this new system.
Right now, other artists like Clarian are having a go at NFTs, with the producer putting his new album ‘Whale Shark’ up for auction as well.
‘Blockchain and NFT technology will lead the way to a much-needed music and art revolution and it’s already starting to happen. If you don’t know what that is, it’s a technology that is as important as the internet of tomorrow and I encourage you to read up more about it. There’s a better world waiting for songwriters in the digital space and it’s a decentralized one without gatekeepers and peanut paydays’, said Clarian in a Facebook post, encouraging more artists to look into NFTs.
