Everyone and literally their uncle is hopping aboard the music NFTs bandwagon now, but dance brand Space Yacht was ahead of the crowd: yesterday it launched its third non-fungible token collection on the Nifty Gateway site.
In this case, the NFTs are a mixture of original music (from Space Yacht co-founder ‘LondonBridge’) and animations based on rave culture: “familiar characters including the Twerk Skeleton and Crypto-Smiley” as well as on the free pizza that Space Yacht gives out at its physical parties.
“The animation comes first and then I compose a track specifically for each NFT. We purposely don’t release the tracks on streaming platforms which makes the music itself highly rare and collectible,” is how LondonBridge explained it.
The company’s first and second collections both sold out in less than three minutes, and it says some of those NFTs have been resold “for up to 15 times the original price” already by crypto collectors.
Music Ally’s next Learn Live webinar will help you understand what’s required for artists to thrive in new international markets!