While music is enjoyable to listen to ears, creators don’t often enjoy the returns, as most portions of the profits generated from an album are taken by record labels and streaming services. Although they support artists by providing a stage to showcase their talent, ill-compensating their work with little returns has been a dark mark on such intermediaries.
With NFTs, music creators can mint their albums as tokens and sell them as whole or fractions on a dedicated platform. These applications take a minimal cut on transactions while offering maximum returns for musicians and token holders. Options such as fractional ownership and royalty commissions help with community connections and passive income generation.