NFTs have been a crucial resource for the burgeoning music business, particularly for up-and-coming music festivals and budding performers. But how specifically have NFTs altered the music industry?
Many musicians and music festivals need money for their endeavors. Several organizations have made use of NFTs to benefit their supporters and give them an easy way to do so.
Fans have been able to support their favorite artists by purchasing limited-edition NFTs and possibly acquiring an asset that will appreciate in value. NFTs provide the artist additional freedom. Using a decentralized initiative like NFTs allows musicians to release the kind of music they want while also generating passive income by allowing subscriptions.
Some artists turn priceless self-portraits into NFTs and sell them to admirers as an additional source of income.
Event Access NFT
NFTs have proven to be the solution for music festivals looking to sell tickets directly to its fans without a middleman. With the help of an NFT project like Cocky, investors can get special access to international music events. Owners of NFTs who are unable to attend events in person can watch live streaming of the events on Cocky’s platform.
Cocky isn’t simply another person who organizes music festivals. It makes it possible for NFT owners to profit by acquiring mutations. They show as a stamp on the background of an NFT, allowing the asset’s owner to add his or her personal narrative to make the asset more unusual.
Cocky’s NFTs are cans that have 51 skin variations and are colored in silver, gold and black lids. The 3-tier color system determines the benefits NFT holders receive at Cocky’s events. Some of the prizes include transportation to events, accommodation and special discounts.
NFT holders stand a chance to win exclusive VIP benefits for events if their cans blackout. Owning the black can NFT entitle the holder to VIP benefits infinitely.
Investors wanting to attend Cocky’s events can buy NFTs by holding a MetaMask, Coinbase or WalletConnect. The project is currently in the presale phase, so investors can own pre-minted NFTs.