What And How Are Non-Fungible Tokens (NFTs) Changing The Music Business?

How has National Funding Territories (NFTs) changed the music business?

NFT Funding

NFT Funding
NFT Funding

NFT Funding Artists and music festivals requiring funding often look to NFTs for support. NFTs have provided artists and festivals alike an easy and straightforward method for their fans to donate funds.

NFTs have allowed fans to become actively involved in supporting their favorite artists while potentially owning an appreciating asset. NFTs also give artists more control of the content they publish while potentially reaping income through subscriptions.

Artists can turn self-portraits from rare collections into NFTs and sell them directly to fans, providing another potential source of income.

NFT Event Access

NFT Event Access
NFT Event Access

There are music festivals that do not want to rely on third parties like Cocky to sell tickets directly to their fans, providing investors in NFT projects an exclusive access to global music events through Cocky’s platform. Even NFT owners unable to attend in person can view live stream of these concerts through Cocky.

Cocky goes beyond organizing music festivals by providing NFT holders with opportunities to earn mutations that can unlock rewards. These stamps appear on an NFT’s background and allow for personal customization – giving each asset its own unique story!

Cocky’s NFTs are cans with 51 unique skin designs and three distinct color schemes: silver, gold and black. Each color scheme determines what rewards holders of Cocky’s NFTs can expect at Cocky’s festivals – rewards can include transportation to events, lodging accommodations and special discounts on merchandise purchases.

NFT holders have an opportunity to win exclusive VIP benefits at events if their cans blackout. Black can NFT grants its holder special privileges forever.

Investors can purchase NFTs using MetaMask, Coinbase or WalletConnect at Cocky’s events and enjoy pre-issued NFTs as part of its pre-sale phase.

NFT holders aged 18 or above can attend Cocky’s live electronic music events. Members are selected based on factors including active Discord participants, random pool of attendees and random selection of attendees from the location of an event.

NFTs Decentralize The Music Industry 

Cocky Events have implemented NFTs as part of a transparent system to combat fraudulent activities and facilitate convenient purchases, providing holders with greater convenience than just access to events. They stand to benefit greatly.

An NFT provides artists with direct access to their fans, enabling them to collect payments directly from them without an intermediary taking most of the revenue for themselves.

Also Read : How are NFTs revolutionizing the art world?