What are Non-Fungible Tokens as it relates to music (What are Music NFTs)?
NFTs use blockchain technology like that of Bitcoin, Ethereum, or Binance Smart Chain. A non-fungible token (NFT) represents real-world objects like art, music, videos, and other media. It’s meant to be a unique or highly limited, work. It can be purchased and sold online with cryptocurrency.
Instead of exchanging cryptocurrencies, artists exchange NFTs. These come in music, sounds, concert tickets, limited-edition experiences, digital content, and merchandise. Ownership is verified by the blockhain, and these NFT's can go up in value just like Bitcoin and can be sold for higher especially if they include some type of utility like mp3 files or backstage acess to a concert.
It doesn’t matter what data you use, non-fungible tokens are BIG BUSINESS and sales worldwide already amounts to billions of dollars, and it the market is set for a significant increase over the next year.
CryptoPunks, Art Blocks, Bored Ape Yacht Club, and #Boiz are so popular and expensive that they’ve entered pop culture and are considered aso called "blue-chip NFTs". Even, traditional investment firms are recommending that their clients buy-in. NFTs make up 5–10% of the entire portfolio of many crypto investors.
All you need to recieve a NFT is a wallet. We recommend Metamask as they're the most popular and super easy to use. There are literally thousands of videos that explain how to use Metamask on youtube.
Check out our own NFT Music Marketplace at at nft.makaih.com It's a exclusive and carefully curated NFT music marketplace/NFT music label on the binance smart chain where you can buy, sell, or hold & earn rewards on limited edtion or one of one NFT beats, and soon music, tickets, and producer kits from Makaih Beats and others on the label.