Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.
NFTs are undoubtedly making waves in the art industry, just like the internet once did. And just like the internet, NFTs are opening up new opportunities for artists. Artists have often been criticized for being too reliant on a middleman or selling their work too early over the last few decades.
NFTs, or non-fungible tokens, however, have given power back to the artist and allowed them to cut out the middleman. One musician who has used this technology to his benefit is Nas, a hip-hop artist, Grammy Award-winning rap legend, and entrepreneur.
When Nas announced his First-Ever NFT Drop, it was only a matter of time until the collection sold out within minutes and made millions, with Nas keeping 100% of the capital. This event will only solidify his position as one of the most successful rappers in the industry.
The very first live sale of his NFTs was a tremendous success; over 1,800 non-fungible tokens were sold across two drops, both of which quickly sold out. Overall sales came to USD 560,000 and market value reached 270 ETH (USD 725,000+).
This is a huge win for artists, who previously had to rely on rather exploitative record labels and middlemen to make it big but can now keep more of their hard-earned money with them.
Web3 is making it possible for artists to take control of their careers and their destinies. Thanks to blockchain technology and Web 3 capabilities, artists can connect directly with their fans and followers and build their careers on their terms while giving fans exclusive sneak peeks and the opportunity to own a piece of their art.
What’s more, with the power of the blockchain, artists can be sure that their work is safe from piracy and exploitation and that they will be fairly compensated for their work. In a world where a handful of major labels dominate the music industry, Web 3 offers a level playing field for all artists, regardless of size or popularity.
The decentralization of online content and its ability to be monetized is something that the entire world is witnessing in real-time, and it’s happening with movies, art, and songs and bleeding into professions like online coaching.
The Metaverse and Web 3.0 will allow those who have thought about creating their own music, art, and educational programs to be able to do so and have it viewed on a global level.
For instance, Decentraland is a decentralized platform that allows users to create, experience, and monetize content and applications. In Decentraland, users can purchase virtual land that is permanently stored on the Ethereum blockchain and use this land to build whatever they want, whether it be a virtual store, a game, or just a place to hang out with friends. Users may even create and host events, which is a plus for artists who wish to celebrate album or movie releases and NFT drops with their fans.
Another popular event hosting platform on Web 3.0 is CryptoBillis, an NFT and metaverse events organization company set to become the center of all events within the metaverse. The company is looking to raise the bar for artists and content creators by eliminating some of the challenges that are currently holding back the industry.
CryptoBillis will host all manner of events, including music festivals, gaming tournaments, and virtual art galleries, offering an enriching experience to artists and followers alike. These exclusive events are available to those who hold CryptoBillis NFTs, and owners get unlimited access to any and all events in the CryptoBillis metaverse.
Come join us and find out how Metaverse is changing the world!