{"id":4052,"date":"2022-02-11T18:39:06","date_gmt":"2022-02-11T17:39:06","guid":{"rendered":"https:\/\/www.haumeamagazine.com\/?p=4052"},"modified":"2022-02-12T11:42:18","modified_gmt":"2022-02-12T10:42:18","slug":"music-blockchain-part-1-will-nfts-change-how-we-listen-to-music-for-good","status":"publish","type":"post","link":"https:\/\/www.haumeamagazine.com\/en\/music-blockchain-part-1-will-nfts-change-how-we-listen-to-music-for-good\/","title":{"rendered":"Music & blockchain \u2013 part 1 : will NFTs change how we listen to music for good ?"},"content":{"rendered":"

You have certainly already heard about this in the past few months : NFTs are blowing up in the music industry. However, when you have seen artists like Grimes or Aphex Twin sell digital products \u2013 like songs, art or even videos \u2013 as NFTs on various marketplaces, you have probably asked yourself what NFTs are all about and why they have been getting so much attention from the music industry.<\/strong><\/p>\n

NFT stands for “Non Fungible Token”, a complex-looking name that actually are what the blockchain technology identifies as “smart contracts”, aka contracts that prove that you are the sole owner of a digital product you’ve bought with cryptocurrency.<\/p>\n

However, a digital product \u2013 aka a picture, a video, an mp3 file \u2013 can be copied an infinite amount of times. It therefore seems contradictory to be able to “own” a video that is so easily accessible by everyone on the internet… and yet, it is possible. How ? Well, thanks to the blockchain technology, the same technology that cryptocurrencies such as Bitcoin, Ethereum and many others are based on.<\/p>\n

So what exactly are NFTs ? How to buy them ? Which marketplaces give access to them ? And above all, how can these “tokens” change the way we listen to & buy music ? A few answers are to be found below.<\/p>\n

What this article covers<\/strong><\/span>\u00a0:<\/p>\n

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  1. NFTs : what are they and where do they come from ?<\/em><\/strong><\/a><\/li>\n
  2. How can NFTs revolutionize the music industry ?<\/em><\/strong><\/a><\/li>\n
  3. Where can you buy NFTs today ?<\/strong><\/span><\/em><\/a><\/li>\n<\/ol>\n<\/blockquote>\n
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    Actually, doesn\u2019t feel quite right selling this. Will pass.<\/p>\n

    \u2014 Elon Musk (@elonmusk) March 16, 2021<\/a><\/p>\n<\/blockquote>\n