The key market is betting that the music will be better for NFTs than for the industry.

If you continue to pay close attention to revenue and market size, you can see that many NFT music platforms have recently developed, with more and more tens of millions of track vehicles. Why have the biggest financial firms and large corporations bet on NFT music?

According to the "2020 Global Gaming Market Report" published by Newzoo: by 2020, the global gaming market will reach 174.9 billion US dollars.

According to the 'Global Music Report 2020' published by the International Phonographic Industry Association (IFPI), the total sales of the global music market (just the size of the music market) are $ 21.6 billion (around $ 21 billion). , 6 trillion wins).

With the explosive growth of the art industry and the game industry, it is no exception that “NFT” and “Web3.0” will burn in the music industry.

There are now over 50 different NFT music platforms on the market, almost all of which are expected to be announced in 2021, of which over 30 were launched just two months ago.

Incomplete data shows that about 76% of all published NFTs are electronic music, with rock and pop accounting for 24% of the total. NFT songs for sale. The artists who have successfully sold music through NFT since the start of the year are as follows.

Electronic music producer Deadmau5 has announced its entry into the NFT market and has auctioned a range of collections, including works of music and art, through WAX.

Mike Shinoda, singer of rock band Linkin Park, raised $ 30,000 through an NFT auction.

DJ superstar Steve Aoki sold NFT items, including $ 888,888, to former T-Mobile owner John Leger for $ 4.2 million.

Chinese singer A Duo released NFT's first single, "Water KNOW," and the sale price of her work reached 304,271 yuan.

While the emergence of the streaming media age is devastating for musicians, the NFT industry will essentially become a “hiding place” for musicians.

With short-term problems in the distribution of income and the pursuit of the novel coronavirus (inability to generate income together), the music industry has been sold. NFTs could change the whole development of musicians and the music industry.

NFT will change the status quo where our list of key players governs the music industry. Sony, Universal, and Warner now run the $ 11 billion music business with our company handling the revenue.

The income from musical creation is distributed to producers, distributors and recorders, and it often takes a long time (the path is heavy) for musicians to perceive expenses, which represent a small part of their total income.

In February of this year, Linkin Park co-founder Mike Shinoda earned $ 10,000 (roughly $ 7 million in earnings) from NFT sales and posted on his Twitter: “Even though I download all posts on the world, responds DSP (digital streaming platform), After cutting. He, DSP, record companies, business expenses, my income will not be close to $ 10,000. "

Looking at the growth of the NFT music industry over the past few months, it should be noted that while sales of music in NFT form have been successful in the market, it has not been. It means that NFT music has entered the minds of people. . people. consumer.

In contrast, the majority of NFT music buyers are heavily engaged in the affluent cryptocurrency market.

Blockchain Music co-founder, which provides digital collections to electronic music producer Deadmau5 Jimi Frew, said, “About 90% (customers) are very profitable financial institutions, including fans who cannot afford the items. luxury.

How to attract more users to the NFT music business? Rehearsals of Grammy Award-winning Anjos and rock band Kings Of Leon give us some advice. The first makes noise when the second uses physical data.

It has been reported that the “Circular” NFT audio sold by Anzos is not in its final state.

When "Kings Of Leon" sells NFTs, they also sell special vinyl versions and "Golden Tickets" (you can get 4 frontline tickets and get VIP treatment on every tour).

As more and more consumers will join NFT music in the future,