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2022-01-15 11:45:59

Akon Plans to Release Next Album as NFTs

Grammy nominee Akon plans to release his next album through a non-fungible token, or NFTs. In an exclusive interview with Esquire magazine, the singer discussed the potential of digital assets and how NFTs could help artists in the music industry. He pointed out that artists in recent years have often complained that music streaming services don’t pay them enough for their songs. “Throughout my career, I have always believed that artists never really got their fair share of the profits for the work they produced and people listen to,” he began. “My next album is going to be an NFT album. What that means is that it opens the door to full transparency where your music is being played, who’s playing it, where they’re playing, and how many times it is played. Financially, you get the royalty every time someone shares it, so it makes sense to me, and that’s the route I want to go for all my future music releases.” Akon says that NFTs or digital representations of music and other collectibles offer full transparency about where a piece of music is being played, who’s playing it, and how many times it’s been played. “With that, I’ll be able to monetize it from the day it drops on every platform that exists,” he added. 2021 was a blockbuster year for NFTs with blockchain analytics firm Chainalysis estimating that the market has surpassed a $41 billion valuation.The post Akon Plans to Release Next Album as NFTs appeared first on Cryptoknowmics-Crypto News and Media Platform.

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