Web3 music marketplace Serenade has partnered with Warner Records UK to launch “digital pressings”: limited edition, blockchain-ified music releases that are eligible for the UK and Australian charts. Rock band Muse will be the first artist to release an album in this new format with their new release on August 26th.
These digital pressings retail for £20, and will be available for purchase using a credit or debit card – removing the crypto wallet barrier that some NFT and web3 projects face. Serenade has “worked closely” with UK’s Official Charts Company and ARIA in Australia to ensure chart eligibility – and one sale of this new digital format is being considered equivalent to the sale of one album unit.
So why would a fan buy this new web3 version, and not the vinyl version, or a piece of album merch? Serenade thinks that the scarcity, exclusive content, and community recognition that comes with these digital pressings – along with the standard web3 carrot-dangle that these tokenised products can later be re-sold, perhaps for a profit – will whet superfans’ appetites.
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