NFT Review 102 - Future of NFT-fueled Music

DeGods ditch Polygon, Star Trek NFT trademarks, JPEG’d exploited for $11m, and more.

gbaci

and

Bruno Škvorc

Aug 11, 2023

NFT Review is a weekly newsletter covering NFTs in the Web3 ecosystem on Polkadot’s side of the woods. The newsletter is put together by Bruno Škvorc and gbaci.
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Dear NFT enthusiast,

The convergence of music and blockchain is taking a significant stride with Bolero and its Song Shares framework. This platform offers fans micro-ownership over an artist's music, turning listeners into stakeholders who earn a percentage of the royalties a song generates.

The "Song Share" concept is a harmonious blend of creativity and economics, allowing independent artists to connect directly with their fans. For instance, the platinum track "Brothers" by French rapper Rilès generated a return on investment of 9.2% over a year through this model. It's an approach that not only opens new revenue streams but also fosters a more intimate connection between the artist and the audience.

Bolero's venture underscores the transformative power of blockchain, offering a direct bridge between artists and their audiences. As more artists gravitate towards this model, Bolero's CEO, Bailey, hints at future plans that could further shape the music industry.

This development beckons a question: Could blockchain-fueled platforms like Bolero be the key to a more inclusive, artist-centric music industry?

Thank you for reading and have a great week.

— NFT Review

🖼 crypto-native

RMRK published release notes for Singular, detailing new features and overall development updates.
archivist.eth published the latest edition of the Blockchain Collectibles Clock, a visualized timeline of blockchain collectibles from 2009 to today.
mint.fun added support for the Base L2 and hailed the winner of its 1st on-chain minting competition.
Zora introduced Protocol Rewards, meaning creators and devs can now earn from using Zora.
Forgotten Runes Wizard’s Cult released 3D models to all of the collection’s holders.
Jack Butcher unveiled Opepen art set submissions.
Sound rolled out a follows feature.
Axie Infinity is hosting an Axie Classic Throwback tournament.
DeGods ditch Polygon, moving y00ts to Ethereum and returning $3 million grant.

Mithraeum, an on-chain strategy game, started its Iron Age I Tournament.
Sorare introduced its new Cash Wallet.
Yuga Labs is collaborating with Animoca Brands and nWay on Wreck League, a web3 fighting game.
- Yuga Labs acquired Roar Studios in a bid to bring AI into the Otherside.
Nifty Island launched support for 3D Forgotten Runes Wizards.
Caviar, an NFT AMM, announced an NFT liquidity experiment in partnership with Insrt Finance and The LLamas.
JPEG’d, an NFT borrowing protocol, was hit with an $11M loss after an attacker exploited Curve, a popular DeFi exchange.
NFT trader admits nabbing $1.5 million in $ETH after ‘Elizab.eth’ gets rekt on Blur.
NFT gas usage shows a downward trend, signaling shift in landscape.

🌎 global adoption

Shinsei Galverse published its first anime release, a music video created with pop star Tove Lo.
As Coach swallows Versace, a crypto divide grows in luxury fashion.
Borderless art comes to life with Superchief's network of NFT galleries.
Canada to develop repository for storing crypto and NFT seizures.
Apple’s 30% tax rules will stay for now, crypto and NFTs may have to wait.
Star Trek trademarks for NFTs: The final frontier.

That’s all for this week, see you in the next edition! Got some links to share with us, artists to feature, NFTs to sell, jobs to promote, or events to popularize? Get in touch with Bruno or gbaci!