Dig beneath the hype and doom-mongering, and there continue to be plenty of musicians exploring what they can do with non-fungible tokens (NFTs). We have two more examples to tell you about today.
First, Blond:ish, who is launching an NFT that she says “does not have any negative consequences for the environment”. That addresses one of the big criticisms of NFTs (and blockchain/crypto more widely) around their climate impact. She’s releasing a series of ‘Chakratastic’ NFTs on a new marketplace called Metaplex, built on a ‘proof of stake’ blockchain seen as far more sustainable than existing ‘proof of work’ blockchains – more on that here.
The second story concerns rapper Lil Dicky, who is working with Royalty Exchange to sell what’s being described by Variety as ‘the first ever music publishing NFT’. What that means is that whoever wins the auction for the NFT will get a slice of future mechanical, public performance and sync royalties for Lil Dicky’s ‘Save Dat Money’ song. The auction opens on 7 June.
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