Only 50 copies of the song were minted.
UK Progressive stalwart Nick Warren has decided to release his latest track, ‘Freebird’, as a Non-Fungible Token (NFT), via ROCKI, the music streaming platform that utilizes Blockchain technology for royalty payments, which also holds an NFT store.
Speaking with Electronic Groove about the decision to release ‘Freebird’ as an NFT, and its pros compared to the standard business model, Warren said: ‘I think every artist is intrigued about the NFT space. I saw an artist friend, BLOND:ISH had issued a music NFT on ROCKI, and the feedback was positive, so I decided to try it out. This is an entirely new model that we haven’t seen before, so perhaps a bit too early to tell. I do believe it could be a nice additional new tool that artists could use when promoting their music to a global audience.’
‘I think there is an inherent value with scarcity, and these limited edition music NFTs could provide just that. Whether or not my music NFTs goes up in value over time or not, that I can’t tell you. However, the feedback we have been getting has been really positive, and I think fans are open to owning a piece of something exclusive, something not everyone else has access to play and enjoy.’
On the approach to collectibles and their value in today’s modern digital spaces, Nick explained: ‘I personally think the value is in the scarcity. There were only 50 copies of ‘Freebird’ track minted and issued as a music NFT. There will never be any more, and once that music NFT sale ended, or all the copies sold, the only way to be able to enjoy that track would be if you buy it off someone else on the secondary marketplace. This is the opposite model of everyone else, where virtually all music is available, at any time, for free.’
You can grab your copy of Nick Warren’s ‘Freebird’ NFT here.
