The Metaverse is quickly becoming one of the biggest trends of 2022. Recent data found that the metaverse sector currently has a market capitalization of over $26 billion. While impressive, new capabilities are also being added to virtual worlds to create more immersive experiences. For example, metaverse communities that cater to creatives are starting to unfold, allowing users to customize their own interactive experiences. Although this is still an emerging concept, the incorporation of music appears to be one of the defining characteristics of social metaverse environments. Music as NFTs For instance, music in the form of nonfungible tokens (NFTs) …

A new partnership between global crypto exchange Binance and South Korean entertainment company YG will see the two companies strive for a more sustainable framework for future NFTs collaborations. YG manages a number of notable Kpop stars including BLACKPINK, BIG BANG, and WINNER. The Feb. 8 announcement stated the Memorandum of Understanding (MoU) will reportedly give Binance access to develop digital assets based on the IP (intellectual property) associated with these artists. Although the two companies didn’t provide any specific details for any upcoming NFT collections, they did confirm that creating NFTs in an “eco-friendly way” will be one of …

Scalping is a massive problem in the event ticketing industry. From touts and bots buying out events the second they go live to reselling tickets on the secondary market at exorbitant prices, both artists and fans are suffering from those taking advantage of the ticket markets for profit. The problem is growing, and artists like Ed Sheeran have attempted to solve it to varying degrees of success. However, none of these solutions have worked, and an alternative is necessary to fix the scalping phenomenon. Fortunately for ticket holders of all sorts, one startup is offering a lifeline: SeatlabNFT. NFT-powered security …

Ownership is one of the most critical aspects of nonfungible tokens (NFT). They are a representation of the evolution of execution and ownership of art, content, music, in-game assets, etc., since they are digital assets with distinctive identities that are verifiable on a blockchain network. However, they have also created a new dimension of discussion about the interaction and grey area around copyright, intellectual property (IP) and trademark laws. In a recent highly publicized fiasco in the cryptoverse, crypto decentralized autonomous organization (DAO) Spice DAO was mocked for believing that the ownership of a copy of the unpublished manuscript of …

American singer-songwriter John Legend is solidifying his position among the ranks of celebrities flocking to the world of nonfungible tokens (NFTs), helping to launch a new NFT platform for musicians and other entertainers. The platform called OurSong allows artists to tokenize and sell their work, awarding buyers with privileges like access to unreleased music and private chatrooms. "Everyone can now turn stories, music, photography, and any kind of art into NFT trading cards called Vibes," the platform states. "Vibes allow you to unlock exclusive updates and access private chat communities where you can meet like-minded others." Legend will act as …

The Coachella Valley Music & Arts Festival has partnered with FTX US to launch a series of NFT collectibles that includes tokenized lifetime access passes to its annual music festivals. The iconic music festival is held over two consecutive three-day weekends every April in California, and is being headlined by Harry Styles, Billy Eilish and Ye (the artist formerly known as Kanye West) in 2022. The partnership was announced on Feb. 2 and it will see the duo launch a Solana-based Coachella marketplace and NFTs that offer real world and virtual benefits. Coachella FTX One of a kind NFTs for …

Rock legend Gene Simmons says he will accept crypto payments for the sale of his $13.5 million mansion in Las Vegas. The iconic bassist and co-lead singer of Kiss will accept payments in or a combination of Bitcoin, Ethereum, Litecoin, Uniswap, Polkadot, Aave or Try.Finance according to hard rock news site, Blabber Mouth. Listing broker Evangelina Duke-Petroni from Berkshire Hathaway Home Services told the Las Vegas Review-Journal in a Feb 1 interview that any potential crypto payment for the property would have to be “verified through closing costs, including taxes and commissions.” The three-level mansion sprawls across over 11,000 square …

Kanye West won’t be purchasing a Bored Ape Yacht Club nonfungible token (NFT) any time soon. In a strongly worded Instagram post made on Monday, Ye stated “Do not ask me to do a f*cking NFT.” The message in the photo, shared with his 10.5 million followers, explains he is focused on “building real products in the real world.” He didn’t mince his words in a follow-up comment to the Instagram post: “STOP ASKING ME TO DO NFTs I’M NOT FINNA CO-SIGN … FOR NOW I’M NOT ON THAT WAVE I MAKE MUSIC AND PRODUCTS IN THE REAL WORLD”. Whereas …

As the two-year anniversary of the global COVID-19 pandemic begins to hurtle toward us, we are no closer to knowing when our social lives will return to normal or what will the new normal be. The effect this has had on businesses like nightclubs, music venues and musicians have been immeasurable. With crowded in-person events either made impossible — or far more difficult and laborious — at many points over the last two years, changes to the industry that were already set in motion have been accelerated. Namely, the music industry’s adoption of digital instruments, among others and, increasingly, the …

The Sandbox announced Thursday a partnership with Warner Music Group, or WMG, to create a musical theme park and concert venue within the gaming metaverse. The Warner Music Group LAND in The Sandbox will host concerts and live experiences featuring artists and talent represented by WMG. This initiative marked Warner Music’s first entry into the NFT metaverse realm. According to a statement shared with Cointelegraph, their goal is to create immersive social experiences that can empower Warner Music artists. The Sandbox could provide artists with another outlet to engage with their fans, experiment with virtual entertainment and generate new revenue …

John Lennon’s eldest son Julian is selling some of the rarest pieces of music history from his private collection. John Lennon’s coat from the “Magical Mystery Tour” film, his cape from “Help!,” three guitars and Paul McCartney’s handwritten arrangement notes for “Hey Jude” are some of the most sought after memorabilia from music history up for nonfungible token (NFT) auction. The NFT series, called "Lennon Connection: The NFT Collection," has opened up for bidding on Monday and will commence on February 7 in collaboration with NFT marketplace YellowHeart and Julien's Auctions. A portion of the sale from the NFT auction …

Nonfungible tokens have proven to be successful across a number of industries. From gaming to high-end luxury fashion, NFT use cases have demonstrated the importance of creating lasting connections between a company or a brand and its users/customers. As such, it shouldn’t come as a surprise that the billion-dollar event-ticketing industry is on its way to being disrupted by nonfungible tokens. Specifically, the online event-ticketing sector — which is expected to reach $60 billion by 2026 — will likely see an increase in NFT ticket platforms and marketplaces that issue virtual tickets across a blockchain network. Colby Mort, head of …