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Music NFTs update: Grammys, Rolling Stone, ESP Guitars…

A number of famous music brands are jumping on the NFTs bandwagon this week, starting with the Grammy Awards. The Recording Academy is working with OneOf, the music NFTs firm that launched earlier this year touting its eco credentials, on a series of NFTs based on January 2022’s Grammy Awards.

Rolling Stone magazine is also exploring non-fungible tokens through a partnership with the team behind the lucrative Bored Ape Yacht Club NFTs. An interview with the team will be accompanied by ‘digital cover image’ NFTs from the magazine, as part of a collection of seven that will launch on 8 November.

Finally, NFTs startup Fanaply is working with instrument brand ESP Guitars on a series of NFTs based on the latter company’s ‘Pyrograph’ guitars. Three NFTs have been released, each with only 30 versions available costing $100 each.

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Music leaders say ‘step up’ comments reflect wider problems

Recording Academy boss Neil Portnow’s terrible, horrible, no good, very bad year just got a little bit worse: but the important thing about the latest open letter to the beleaguered Grammys boss isn’t so much what it says about him, as what it says about the industry as a whole.

Six prominent industry leaders – Universal Music Group EVP Michele Anthony; UMPG CEO Jody Gerson; Atlantic Records co-chairman Julie Greenwald; Epic Records president Sylvia Rhone; Sony Music general counsel Julie Swidler; and Roc Nation COO Desiree Perez – described the Recording Academy (Naras, to give its full acronym) as “woefully out of touch with today’s music, the music business, and even more significantly, society”.