R&B artist Willie Taylor, of MTV’s “Making the Band 4” and VH1’s “Love and Hip Hop: Hollywood,” is the debut artist of a new Black-owned NFT platform centered around music.
Three NFT music tracks off Taylor’s music project “Write My Wrongs” dropped last Friday. The songs were available for 24 hours and each track was limited to 126,000 downloads. Patrons received a NFT art piece by Israel Wilson, creative director at the NFT platform Snowcrash, for their purchase.
The November 26 release date was a nod to Taylor’s previous band Day26, formed by Sean “Diddy” Combs on the reality show “Making the Band 4.”
360NFT team members, Taylor and some others came together for a 360NFT drop countdown on Clubhouse, where they discussed the NFT boom.
NFTs changed the landscape of the art world, bringing the buying and selling of art into the digital world. Multi-million-dollar purchases of NFT digital art demonstrated the potential financial power of NFTs.
Wilson suspects music NFTs will soon emerge as the next big thing.
“In the same way that we saw the dot com boom happen in the 2000s, years and years after the internet was founded,” said Wilson during the Clubhouse conversation. “We’ve seen this boom in crypto companies. And now with decentralization, there’s gonna be a variety of solutions built around that. Art being the first, but music seems to be the one that’s really gonna take over 2022.”
360NFT claims users can “thrive” on the blockchain without having to code, navigate hard-to-use tech or manage delivery. Artists and other users will maximize their earnings by monetizing their music and content assets through the cryptocurrency tech platform, according to 360NFT’s press release. 360NFT is in partnership with SKALE Network, an elastic blockchain network, and Digiwaxx, a music marketing promotion agency.
“Lots of people don’t own their music so it’s very hard, even if people are working with musicians, to create music NFTs,” said Wilson on Clubhouse. “Now this music NFT specifically is going straight to market through a Black-owned and engineered platform.”