NFTs democratize the music industry and redistribute song rights

The music industry continues to find inventive ways to integrate decentralized technology into new releases to benefit both artists and their fans.

Electronic dance music (EDM) artist R3HAB and blockchain-based music community anotherblock released a single on August 19 with the idea of ​​“democratizing music rights.” The non-fungible tokens (NFT) included in the delivery allow holders to earn rights based on the popularity of the stream.

The single, “Weekend on a Tuesday”, debuted with an exclusive NFT. Each of the 250 available NFTs entitles you to a 0.02% share of streaming revenue. Anotherblock's platform offers a value tracking tool for holders to estimate payments and total value....