Spotify plans join nft craze2/24/2023 ![]() ![]() Now that you've understood what a blockchain is, the following should be easier to understand. ![]() If you don’t, here is a quick 2-minute video that should bring you up to speed: With that being said, the rise of NFTs is probably the single biggest revolution to enter the scene and make things more artist-centric.įor the purposes of this article, we are assuming that you have an entry-level understanding of the blockchain. Musicians mostly are really in the ticket and t-shirts business! The massive 88% mostly goes to middleman corporations, like labels. Musicians today receive an average of only 12% of all profits from the sales or streams of their music. Fast forward to today, artists are generally seen munching on the peanuts that their yearly Spotify royalties could afford them. For more than 20 years, musicians have been told that the internet was going to save the music industry. ![]()
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