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If you’ve been running a sweepstake on who would be the first collecting society to launch its own line of NFTs, well, it’s time to pay out. Or time to email us furiously to disagree with French PRO Sacem’s claim to that achievement, of course.

Sacem is dropping some NFTs as part of its annual ‘Les Grands Prix Sacem’ event, and they will go on sale tomorrow alongside the launch of a Discord server for buyers. The society will sell NFTs in four categories – classic, bronze, silver and gold – and bundle perks including concert tickets, streaming service subscriptions and invitations to its Grand Prix ceremony in December.

What’s going on here though: are NFTs really going to be an important revenue stream for a society like Sacem? That’s not the goal.

“Sacem wants to embrace and experiment with these emerging technologies to take stock of their potential in terms of diversification of revenue sources and value creation for members,” it explained. “While a new world is taking shape, it is Sacem’s duty to explore it and to give itself the means to guide its members, enlighten them and to create the conditions for them to be legally protected and fairly remunerated…”

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Stuart Dredge

Music Ally's Head of Insight

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