Sia Furler, a well-known Australian singer, is introducing an NFT collection on Opensea in collaboration with Sam Bankman-FTX. Fried’s Sia chose FTX for their ethical values, but she is platform neutral.
The cooperation released on Bankman-Twitter Fried’s account. As she joins the Web 3.0 revolution by developing her own “Siaverse,” Sia aims to share FTX’s projects with her followers. As well as inviting them to vote for the songs she writes. She believes it’s a lot of fun and a different method to do art.
She wants to use the opportunity to give her admirers gifts. On December 4, 2021, she attended a launch event for her NFT project, during which she sang an exclusive song.
NFTs aid in the development of artist-fan interactions
The music industry has a lot of promise with NFTs, especially for established musicians who already have a relationship with their audience. NFTs are already popular: Major musicians such as Doja Cat, Lil Nas X, and Kings of Leon, and Sony Music and Eminem have invested in MakersPlace, an NFT marketplace.
To help unemployed Met Opera musicians survive the pandemic, the Dallas Symphony Orchestra recently produced NFTs commemorating performances by Austrian-Bohemian composer Gustav Mahler.
NFTs can be from concert tickets, live interview streaming, digital art, sound snippets, to rare LPs. Moreover, the artist retains all distribution and ownership rights under NFTs.
NFTs can allow fans form close relationships with musicians through Discord, or just by purchasing a concert ticket, which serves as irrefutable proof of presence or a source of unique interest. They bypassed intermediaries like record labels and streaming providers.
In the Web 3.0 era, Audius was a pioneer in the field of music streaming. Audius is a Solana blockchain-based decentralized music streaming network. It is run by artists and owned by the community. Artists get 90% of the proceeds from sales, but the platform doesn’t take a portion.
Artists can give away free content, charge a one-time fee to access all content, or sell their music as NFT. Audius awards audio tokens to artists for accomplishments such as hot tracks.