Snowcrash, a startup focused on the Solana blockchain, has announced that Sony Music and Universal Music Group will be a part of its upcoming platform, which later this year is planning Bob Dylan and Miles Davis NFT drops.
NFTs are unique tokens that exist on a blockchain like Ethereum or Solana. The music industry has taken a strong interest in NFTs as a way to further monetize artists and content, with musicians like Dolly Parton, Steve Aoki, Kings of Leon, and 3lau cultivating NFT-focused brands.
Snowcrash will be competing against other Solana-based NFT marketplaces like Solanart and Solsea. OpenSea, the largest NFT marketplace, saw nearly $3.6 billion in sales last month, but currently only offers NFTs minted on the Ethereum and Polygon blockchains. (OpenSea may soon be adding Solana NFTs.)
Sony Music is planning to work with Snowcrash to “develop a range of opportunities for our recording artists with a focus on delivering accessible, user-friendly experiences for both creators and fans,” Dennis Kooker, Sony’s president of global digital business, said in a statement.
Michael Nash, Universal Music’s EVP of Digital Strategy, echoed Kooker’s belief that Snowcrash will provide artists with new opportunities.
Steve Aoki Says He’s Made More Money With NFTs Than From 10 Years of Music Advances
Steve Aoki is no stranger to NFTs. As an artist, Aoki has been in the NFT space for a few years and wants to see these unique assets transform the music industry. Aoki also is a fan of Gala Games and its latest offshoot, Gala Music. He gave the opening talk at a private Gala Music event at the Forum in Inglewood, California, on February 10, which began with one-on-one Q&As. Gala Games COO Sarah Buxton spoke about gaming and music, followed by electronic artist BT, who discussed his Orbs NFTs, wh...
Sony and Universal joining Snowcrash is just the latest example of big labels diving into Web3. Warner Music Group recently announced a partnership with blockchain gaming company Splinterlands, citing a desire to get its musicians into play-to-earn games.
