NFTs (non-fungible tokens) allow digital art, music and other files to be bought and sold on the blockchain, with proof of ownership. Popular artists like Grimes, Kings of Leon and Mike Shinoda from Linkin Park have sold their art and music as NFTs, with Grimes raising $6 million and Shinoda selling a song teaser for $33,000. The music industry sees opportunities for ongoing revenue from reselling collectible digital music and art files, as well as getting paid in cryptocurrency. However, mainstream adoption may depend on educating older generations about cryptocurrency.

1. Q: What are
NFT's, anyhow?
A: They're an exciting innovation for the Music Industry

2. What does NFT stand for?

3. NON -
FUNGIBLE
TOKEN
“Non-fungible” means that it’s
unique and can’t be replaced
with something else.
The token refers to a unit of
currency on the blockchain.
This blockchain is how
cryptocurrency is bought and
sold.
Source: The Verge

4. WHAT CAN BE SOLD AS AN
NFT?
Drawings Music
Hey, here's my brain
turned into AI file.

5. Jack Dorsey (CEO, Twitter) -
sold his first ever Tweet as an
NFT.
Sale price: $2.9million USD

6. Great story.
But how do NFT's
work?

7. ETHEREUM
BLOCKCHAIN
NFTs are part of the Ethereum
blockchain.
Source: Blockchain Explained
The ethereum blockchain works
somewhat like a fancy Carfax, in that
it supports the transparent record of
all prior ownership of a digital file.

8. Grimes - Raised $6million
selling her art in NFT form.
Source: The Verge
Kings of Leon - released their
album as an NFT. They're the
first band to do so. Income
unknown.
Source: Rolling Stone
Mike Shinoda, co-founder of
Linkin Park - Auctioned a 30-
second teaser of an
unreleased song as an NFT for
$33,000.
Source: Hypebeast

9. Why can't I just
download the file
from the internet?

10. YOU COULD, BUT
NFT’s give you something that you
can't just copy: that is the legally
recognized ownership of the work.
Let's call it kudos, or clout.

11. WHAT DO THE
EXPERTS THINK?
“"The potential to provide tremendous value to
artists."
Oana Ruxandra, Warner Music Group chief
digital officer and executive vp business
development to Billboard Magazine.
"NFT ownership is a step forward in collectable
items which bring fans closer to their favorite
artists.”
Celine Joshua, Universal Music Group’s executive
vp commercial & artist strategy to Billboard
Magazine

12. Ok, but what does this really
mean for the Music Industry?

14. “Even if I upload the full version of the
song to DSPs worldwide (which I can still
do), I would never get even close to $10k,
after fees by DSPs, label, marketing, etc.”
- Mike Shinoda, Linkin Park Founder
Source: Hypebeast

15. OPPORTUNITIES
Sell music, concert tickets,
poster art as collectible
items
The resell value and
ongoing revenue from
resales
Get paid in a viable new
form of digital currency

16. MARKET &
TECHNOLOGY
"While NFTs are important as
a newly developing market,
they have similar potential to
their gaming and fitness
initiatives" - Billboard
Magazine
“Look at Flow as you would
iOS. Ethereum, like Android,” -
- Billboard Magazine

17. POTENTIAL
AUDIENCES
Gen Z - raised online -
implicitly understands
cryptocurrency and NFT's.
They already actively purchase
digital goods. Eg. In-app
purchases on games like
Fortnite.
Comparatively, cryptocurrency
education for older
generations is going to be key.

18. STILL NOT
CONVINCED?
When you started using
the internet, did you think
one of your most-used,
favourite tools would be
to stream and listen to
music online?

19. SOURCES
NFT's, explained - The Verge
Grimes sold $6 million worth of digital
art as NFTs. - The Verge
What 's an NFT? And why are people
paying millions to buy them? - NPR
NNFTs Boom as Collectors Shell Out to
‘Own’ Digital Art - Wired.com
Mike Shinoda Sees the Future of
Creative Ownership in NFTs
- Hypebeast
Kings of Leon Will Be the First Band to
Release an Album as an NFT - Rolling
Stone
The Major Label NFT Strategy Will
Focus on Long-Term Revenue
- Billboard