Australian singer Sia Furler hopes to create a “Siaverse” on the Opensea NFT marketplace for fans to engage with her art.
Renowned Australian Singer Sia Furler is launching an NFT collection on Opensea in partnership with Sam Bankman-Fried’s FTX. Sia chose FTX because of their ethos, but is platform-agnostic. Bankman-Fried announced the collaboration via his Twitter account. Sia hopes to be able to share NFT projects with her fanbase and have them vote on which songs she writes as she joins the Web 3.0 movement by creating her own “Siaverse.” She believes it’s fun and a new way to create art. One needs to download Metamask, create a Metamask wallet, and load it with Ethereum. Then one needs to create an account on Opensea, and link it to one’s Metamask Wallet. She wants to use the platform to share gifts with her fans. She recently held a launch of her NFT project on Dec.4, 2021, where she performed a song she wrote that morning.
NFTs Foster Deeper Relationships Between Artists And Fans
NFTs have tremendous potential for the music industry, albeit more so for established artists who already have built a rapport with fans. Major artists like Doja Cat, Lil Nas X, Kings of Leon have already released their works as NFTs, while Sony Music and Eminem have invested in an NFT marketplace called MakersPlace. The Dallas Symphony orchestra recently put up for sale NFTs that commemorated performances of Austro-Bohemian composer Gustav Mahler to help Met Opera musicians who had been out of work survive the pandemic.
Concert Tickets, live streams of interviews, digital art, sound bites, and rare albums can all be minted as NFTs. NFTs give all of the distribution rights and ownership to an artist. NFTs can help fans forge deep relationships with artists via Discord, or simply by a concert ticket showing immutable proof of concert attendance or a unique curio. It removes the intermediaries like record labels and streaming platforms.
Music Streaming Platform Championing Decentralized Art
One company that has pioneered music streaming for the Web 3.0 age is Audius. Audius is a decentralized music streaming platform that is built on the Solana blockchain. It is owned by the community and controlled by artists. Artists get 90% of sales revenue, but the platform takes no cut. Artists can offer content for free, receive one-time payments to unlock all content, or sell their songs as NFTs. Audius rewards artists with Audio tokens for achievements like trending tracks.
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