By now, you’re familiar with NFTs of cartoon apes, pixelated avatars and everything in between. NFTs are truly in the mainstream – Collins Dictionary even had “NFT” as their word of the year for 2021.
But could musical NFTs be primed to follow art as the next big craze?
UK based NFT platform Deliciae is marketing an NFT of the Michael Jackson song “Whatever Happens”. The deal has been brokered with songwriter Gil Cang, who co-wrote the song. It will offer a stake of Cang’s 37.5% publishing copyright in the song.
The NFT grants a purchaser 10% of net publishing income from the song (this translates to 27% of Cang’s piece of the pie). It’s a pretty sweet arrangement and it could be a sign of things to come in the space. Sure, the King of Pop may not be for everyone, but it’s easy to see the appeal of owning an income stream from your favourite artist’s album, or a song you love.
What about buying your significant other an NFT of your wedding song – how is that for an anniversary gift? Or maybe buying a piece of the number 1 song in the charts for your newborn baby on the day they are born? For me, I’d love to generate some passive income via some Bruce Springsteen or Fleetwood Mac.
Applications
There are many other applications for NFTs in music. For this MJ NFT, the purchaser will also receive signed lyrics from Gil Cang and a framed platinum disc, while VIP access to gigs, special concert tickets, hangouts with musicians are all further applications that NFTs can offer – the list goes on. But there is something about ownership of royalties that is
