NFTs democratize music industry and redistribute song rights

Cointelegraph

Published Aug 19, 2022 08:05AM ET

Updated Aug 20, 2022 10:00AM ET

The music industry continues to find inventive ways to integrate decentralized technology into new releases to benefit both artists and their fans.

Electronic dance music (EDM) artist R3HAB and blockchain-based music community anotherblock released a single on Friday with the idea of “democratizing music rights.” The nonfungible token (NFT) included in the drop allows holders to earn royalties based on streaming popularity.

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