For anyone who has a little knowledge of cryptocurrencies, the concept of what an NFT is generally understandable. It is currently the hot topic in the cryptocurrency sector, and has caught the attention and interest of many investors despite the fact that they are mostly still in their infancy. NFT’s are clearly hot, and offer a ton of potential for investors, but just how much potential is there?
NFT’s rise is so incredible that fans are willing to pay premiums for exclusive content from their favorite celebrities and music artists, which is also due to the fact that we are in a time of pandemic which has caused a very relevant cessation in terms of concerts and events. In this way some celebrities are turning to NFT, digital tokens that can be unique and permanent and come with the promise of never degrading.
The digital art format adjacent to cryptocurrency has generated millions of dollars in sales for musicians, including Grimes, in recent months. In this sense, artists use this technology to certify the authenticity of a digital good, mark it permanently and unalterable, without depending on an expert who appraises its value. That makes it a unique and special good. And the more people want to buy it, the more its value will skyrocket.
The people in the music world who do best with NFTs so far have pre-existing ties to the fervent cryptocurrency community. But many others have been testing the format.
We saw a clear example of this on February 28th, when the Origin Protocol platform launched an exclusive auction of the NFT collection of ultraviolet vinyl from the world acclaimed musician and producer 3LAU, which raised $ 11.6 million dollars. On the other hand, Grimes, a Canadian singer, sold a collection of non-expendable token (NFT) art for $ 6 million last month. These are joined by a large number of musicians who have put their interest in these cards.
Considering all the boom in NFTs and the music world, now Rocki is launching the world’s first music platform on Binance Smart Chain.
ROCKI is a music streaming service and digital payments ecosystem designed to solve some of the most fundamental problems in the music industry. Powered by the ROCKS token, it is the first platform that rewards both artists for their broadcasts and listeners for their participation.
Rocki has already worked with various partners such as Bounce.finance, a decentralized NFT auction protocol platform, and they have hosted successful NFT music auctions.
It is a fact that Rocki has chosen to work with Binance Smart Chain due to the growth that the platform has had lately, and it is that the development and boom that BSC has had, the volume of transactions, its brilliant scalability and low fees. All this makes large organizations and users want to invest here and continue their development.
Proof of this is what Rocki CEO Bjorn Niclas added:
“The BSC team was the most aligned with our goal of developing a more viable, robust and sustainable music industry. They share our projection for long-term growth, so we are pleased to join their expanding community of forward-thinking and cutting-edge projects built exclusively on Binance Smart Chain. Minting 100 limited edition music NFTs on Rocki on Binance Smart Chain only cost around $0.15 to mint compared to other chains that can cost as much as $100 for the same thing.”
It is clear then that this new market is exploding and opens many doors to new investments which will bring new benefits, and Binance Smart Chain associated with the world of music could not be left behind. NFTs come to create a new culture of collecting, and it is a new monetization craze for great artists.