- Steve Aoki and 3LAU are debuting their first CryptoPunks-inspired music NFTs this Friday.
- The duo aims to give back to music collectors by distributing 50% of the digital assets royalties to 99 select holders from Aoki’s A0k1verse Passport, Blau’s collectibles, and the CryptoPunks community.
- Concentrate consists of 99 NFTs that collectors can buy and trade on 3LAU’s royalty platform, Royal.
What are Punx Music NFTs?
Drawing inspiration from the roots of CryptoPunks and with a solid plan to innovate the music industry, Aoki and 3LAU are set to launch their first music NFT track, Concentrate. The digital asset is the first part of their special album package on-chain, Punx.
Today, 3LAU shared the good news about what’s in the pipeline for the two iconic DJs and Web3 enthusiasts:
The first song in the collection embodies the spirit of the blue-chip NFT collectibles, representing underground, “first-of-its-kind” tech-driven music. The track has an industrial edge and a fast-pace, fit for festival goers and clubbers to enjoy.
What Sets the Punx Assets Apart
Punx will issue 50% of royalties generated by its Concentrate music NFTs to 99 select collectors. The community members will be cherry-picked by the artists, providing they are NFT holders of Blau, A0k1verse Passport, or CryptoPunks.
This action aligns strongly with both artists interests. 3LAU is the co-founder and CEO of Royal, the Web3 music rights platform that offers music creators and fans royalties. Aoki is also passionate about fairly distributing royalties, due to being a huge issue in the music industry.
Consequently, to fairly distribute royalties, all 99 Concentrate assets will debut on Royal after its issuance.
3LAU and Aoki’s Synergy with Music NFTs
3LAU is a leading electronic music artist. The renowned DJ has been at the forefront of music NFTs since 2021, generating millions of dollars through the relatively new blockchain technology.
When first venturing into the space, 3LAU achieved a record-breaking sale of $3.6 million. This was due to selling exclusive content through NFTs. Since, he has garnered more than $11 million in total bids, selling multiple copies of his music to fans through such digital assets. Many of his NFTs also include exclusive audiovisual art.
Moreover, Aoki has his very own metaverse, “A0K1VERSE”, which combines his career’s worth of music, art, and networking into one hub through NFT incentives. As fans collect more of his unique digital assets, more of his virtual world and experiences sheds light.
Since joining the Web3 space, Aoki claims to have made more through selling NFTs than music royalties from record labels. Because of this, he is passionate about artists releasing their music through non-fungible tokens — as much as he is creating them.
Perks of Music NFTs for Artists and Fans
Music NFTs have emerged as a groundbreaking development in the music business, offering unique opportunities for fans, artists, and collectors alike. By using blockchain technology to create digital identities for music assets, NFTs can provide verifiable ownership and authenticity for digital music items: songs, music videos, exclusive content, etc.
The rise of music NFT marketplaces allows artists to monetize their work in innovative and fresh ways. These platforms open the doors for fans to purchase and own a rare piece of their favorite artists’ work. Moreover, enable musicians to raise money directly and fully control their intellectual property.
Another special perk includes opening up a more direct relationship between artists and their fan base. NFTs can create a stronger bond between musicians and their audience, making fans feel more connected and engaged with their favorite artists through special edition products.
By leveraging smart contract technology, music NFTs can also give fans access to special events. This includes concert tickets that open front row seats, experiences, merchandise, and more.
Some of the largest artists in this innovative musical space not only include Aoki and 3LAU, but also Kings of Leon, Deadmau5, Shawn Mendes, Josh Katz, and more.
For more insights, be sure to check out these top 5 music NFT projects to never be forgotten.
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