If you’re an artist you’re probably aware of crypto art and the huge popularity of online art sales.
Sites like Rarible, OpenSea, KnownOrigin, Makersplace, SuperRare and so on have made NFTs (non fungible tokens) a million dollar a week industry. For the first time in history, artists can make passive income by selling and collecting artwork online. For those who haven’t ventured into the land of crypto, it’s a language that takes a minute to understand but quickly becomes second nature.
This somewhat simple explanation is taken from a PDF called Crypto Art: A Decentralized View by Massimo Franceschet and Giovanni Colavizza:
“Rare digital art, also known as crypto art, is limited-edition collectible art cryptographically registered with a token on a blockchain. Tokens represent transparent, auditable origin and provenance for a piece of digital art. Blockchain technology allows tokens to be held and securely traded from one collector to another.”
This huge industry is being built around digital art, and that’s amazing, but so far music has been largely ignored. The new startup Audio Farm Digital (created by Toronto-based Guerrilla Music) is set to be the first audio focused NFT platform.
What this means to musicians is that they can turn a single or an album into a digital token just like the art which then can be bought by fans and collectors. Musicians can set their price and through smart contracts built into the token receive secondary sales every time the song or album gets sold. All sales on the blockchain take place in cryptocurrency and are deposited into a Google extension wallet. The cryptocurrency can then be easily sent to your bank account and withdrawn as cash. This is revolutionary in the sense that musicians will have complete control over their own music.
In terms of artist exposure, new music will be posted on the Audio Farm Marketplace page for all to see, giving everyone the same advantage of site promotion. The future of music sales is here, and it’s bound to meet and possibly surpass art sales in revenue.
MassQline (Photo: Instagram)
To begin Audio Farm will launch with a few handpicked genesis artists already onboard. They’ll be releasing NFTs from musicians such as MassQline form India, Kasseb from Iran, 542 from Greece (featuring Unknown Mizery from Canada), KDB from Canada, and a few more surprises to be announced.
The genesis releases will span a few months starting with the first Audio Farm release on Saturday, November 28th. The official release party will take place on Friday, November 27th inside the Guerrilla Music House virtual venue. Everyone is welcome.
Watch for updates and links on the Audio Farm website.
—
Written by Sky Hayward for HipHopCanada
5 Ways to Support HipHopCanada:
- Submit Your Music
- Follow Canadian Fresh (HipHopCanada’s Spotify Playlist)
- Follow us on Instagram
- Follow us on X (Twitter)
- Like us on Facebook
