Written By Trizah.
Black Market Records launches NFTs for the Sipangwingwi Remix by Exray featuring the Deputy president William Ruto , Shamra Shamra by Mbuzi Gang and Mapenzi Raha by Exit Band. This makes them the first music company in the history of Kenya to present their music in form of NFTs.
The CEO, Cedric Singleton while shading light on the importance of commercializing music in NFT form said that this is an alternative art form aside from digital art pieces that is going to revolutionize the music market. It is the best way to sell your music without having to experience piracy or copyright abuse that is highly experienced in the industry. Another advantage of NFTs is that once a buyer owns your music, they are free to also sell to their own people.
Doesn\’t ring a bell? This current platform of monetizing art has made it easier to sell anything created digitally. NFTs just \’magically\’ make you millions simply by selling music, drawings or any form of art. Non fungible means that whatever you present to your target market has to be unique and can\’t be replaced in any kind of way.
A musician with a million streams on Spotify earns an estimated amount of 3000 dollars to 5000 dollars according to Business Insider. This only applies to the big artists, but for upcoming ones the royalties are hardly golden handcuffs. NFTs work for all artists as long as the quality of your music is impeccable.
With that, congratulations to Black Market Records for taking the step to transform the music market sector by leading the way through encouraging other ways of selling music.