Music-Related NFT Sales Have Boomed In The Past Month
Image credit: Shervin-Lainez
Non-Fungible Tokens are rising in popularity amongst musicians and artists with $25m worth was sold in the past month.
In the last month, digital collectibles have generated over $100 million in sales throughout various entertainment formats.
However, the music industry has taken a real shine to NFTs and artists such as Grimes (who made a cool $6 million by selling her art as NFTs) and more recently rock band Kings Of Leon sold their latest album as an NFT. In addition to this long-time cryptocurrency advocate and Tesla CEO Elon Musk recently teased he would sell his new techno track about NFTs as an NFT, turns out he was trolling as per.
Here are the recent music NFT sales that have taken place in the last month:
- Linkin Park’s Mike Shinoda raised $30,000 via an NFT auction.
- Youtuber and musician PelleK released what they claimed to be the first NFT music album, which sold out in pre-sale in less than two hours for $160,000.
- Grimes auctioned off almost $6m worth of digital artwork via Nifty Gateway, a popular channel for NFT sales.
- Justin Blau aka musician and producer 3LAU sold an NFT collection for $11.6 million via an online auction. 3LAU’s management has confirmed that they’re likely to use NFT auctions on other artists on their roster.
- Famous DJ Steve Aoki sold an NFT art collection for $4.2m, which included an $888,888 sale to the former boss of T-Mobile, John Legere.
- According to Rolling Stone Latin star, Ozuna made more than $456,000 from NFT auctions in 15 minutes.
- Kings Of Leon generated $2m from the sale of their new album ‘When You See Yourself as an NFT, via blockchain platform YellowHeart.
- Global party brand Space Yacht announced its Iconography collection volume II NFTs had sold 579 units for a crisp total of $482,000 via Nifty Gateway. The Space Yacht co-founder and DJ LondonBrige stated that “we’re starting to see NFTs as a new form of story-telling and expression for our brand”.
- Rapper and producer Tory Lanez released three unreleased tracks as NFT’s via auction. Collectively they generated more than $400,000 in initial gross sales and resales from over 300 fans.
- Artists such as Shawn Mendes, Post Malone, and Deadmau5 are rumoured to launch NFT auctions this month.