The new sounds of NFTs at SXSW

We live in a digital world, and it’s only getting more virtual.

Digital art is worth more than classic masterpieces, which is generating unprecedented profits for investors. But it’s not just the art itself that makes these NFTs so valuable; it’s the fact that anyone can access the opportunity to buy or sell digital art, unlike classic baroque oil paintings (good luck buying or selling one of those). Yet even though NFT artwork has created a tide of new crypto millionaires, the next wave of NFTs will be in a different form completely: music.

Over the last couple decades, online music streaming has evolved in leaps and bounds. We went from LimeWire and Napster to Spotify, Soundcloud, and Apple Music. We can stream music literally anywhere in the world from our phones at the touch of a button. No downloading or buffering necessary. But while that’s convenient for listeners, it’s terrible for artists. Because of accessibility and music rights,  97% of artists on Spotify currently see less than $1,000 a year from their work.

Now thanks to blockchain technology, that’s set to change, making music the new sound of NFTs.

NFTs let artists fully own their content, connect with fans directly, and actually make money from their music. That’s why NFTs were one of the biggest focuses of Austin music festival South by Southwest (SXSW).

Pianity, a music NFT marketplace, took advantage of the festival for maximum exposure. They were hand-picked by SXSW judges as finalists and gave a three-minute presentation of their platform while also being an exhibitor in the Creative Industries Exhibition as part of the delegation of Business France at SXSW.

Their marketplace treats music as limited editions, comparing painters to musicians, both creating one-of-a-kind valuable artwork. This finally gives musicians the same ownership as artists, which means significant revenue opportunities for both. With Pianity, that means musicians can earn 10 to 100 times more than they do with streaming platforms. 

“It’s very inspiring to participate in SXSW and contribute to building the future of music. NFTs have been disrupting the music industry for a year now, and as more people are jumping into the Web 3.0 revolution, we’re thrilled to support them,” Kevin Primicerio, the CEO and co-founder of Pianity shares.

Pianity, launched in 2021, is recognized as one of the first NFT platforms for music, selling over 11,000 NFTs to their over 20,000 users.

Just like music streaming services popped up like weeds the last several years, music NFT platforms will do the same.

Make sure you’re listening to that sweet new sound!