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By Joseph Capalbo
NFTs (or Non-Fungible Tokens) are constantly being adapted to change the trajectory of the music industry in a way that allows artists to independently release music without the need of a record label and to create a more personal interaction with their fans.
One of the newer NFT platforms to delve into the music industry, Serenade, is an environmentally friendly NFT platform that allows artists to sell their music and other creations directly to fans, without the need for intermediaries.
Serenade isn’t just about selling music — it’s about creating unique, one-of-a-kind experiences for an artists’ fanbase. Here, an artist can create NFTs that offer exclusive access to concerts, meet-and-greets, merchandise, collectibles, allow fans to access a portion of the royalties to their music, and much more!
Let’s take a deeper look at what makes Serenade stand out as a NFT-based platform and why it could be important to you to learn about as a musician.
Why Serenade Matters for Artists
When we consider the impact of NFTs in the music industry, one of the biggest aspects is that they provide a deeper way to connect an artist to their fanbase. This can provide opportunities to up and coming artists who may not have access to traditional funding upfront, and who want full control over their revenue streams.
Bands like Muse, the Kooks, Young M.A., Jungle, and dozens more have already been interacting with their fans through NFT platforms like Serenade; who in turn already has several music industry investors on board like senior management figures from Atlantic Records UK and Warner Music Group, as well as Hollywood actor Hugh Jackman!
+ Read more on Flypaper: “Green Touring: Where It Stands and Why It Matters.”
Plus while traditional NFT platforms require you to create a digital wallet, purchase cryptocurrency, and transfer that cryptocurrency into a digital wallet, more and more platforms now are allowing purchases with credit cards to ease the burden on non-techy consumers.
Serenade Offers an Eco-Friendly Solution
There’s another aspect of NFTs that’s been bothering artists and environmentally conscious consumers: they are somewhat responsible for adding carbon dioxide emissions to the atmosphere, mostly via massive energy footprint of the cryptocurrencies used to buy and sell them.
The most common currency for NFTs currently, Ethereum, uses an abundance of energy that translates into carbon emissions, is detrimental to the environment, and contributes to human-influenced climate change. All Serenade NFTs are minted with an alternative currency, Polygon, because the company values its affordability and eco-friendliness.
When compared to both Ethereum and Bitcoin , the Polygon blockchain is far better for the environment and typically offers faster transaction speeds and scalability.
+ Read more on Flypaper: “How Erik Ian Walker Is Creating the Music of a Changing Climate.”
Use NFTs to Build Your Community
Being a part of an NFT platform as an artist allows you to provide value to your current fanbase while dipping into a whole new type of fans that are excited about collectibles and technology. Displaying your limited-edition collectibles allows you to showcase who you are as a person and the type of artist that you support and allows your fans to feel like they are part of the bigger picture of an artist’s journey.
Overall, Serenade offers a game-changing solution for music artists who want more control over their careers, and a more sustainable future for the music industry.
Don’t stop here!
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