Non-fungible tokens (NFTs) are the latest innovation that many tech-savvy artists have begun incorporating into their careers. NFTs are digital tokens that live on the blockchain and can be bought and sold. They have a musical and a visual component. They can represent ownership of or interests in a musical work, music royalties, revenues, or communities. They are non-fungible, meaning they are unique and cannot be changed or replaced. One artist who has cracked the code to maintaining a successful career as an independent musician is American singer Vérité. She has racked up hundreds of millions of streams without the support of a record label since releasing her first single, “Strange Enough,” in 2014. After finding success and touring internationally, Vérité became one of the earliest musicians to experiment with NFTs in February 2021. Since then, she has built a strong Web3 community and had several successful high-profile drops, including releasing 1/1 NFTs, selling the master rights to her music, fractionalizing song royalties on the blockchain and giving NFTs to concert attendees.Vérité has done all this while still retaining her dedicated non-Web3 fans, many of whom have little to no interest in crypto. She has walked this fine line by being transparent about her motivations for using NFTs and by educating her fans about the technology. She has also made sure that her NFT drops are not just about the technology but also about the music.
In an interview with Magazine, Vérité shared some insights on how she successfully integrated Web3 into her career without alienating her existing fans. She emphasized that it’s important to be authentic and transparent about why you’re using NFTs and how they benefit you as an artist. She also stressed the importance of educating your fans about the technology so that they can understand why it’s important to you. In conclusion, non-fungible tokens (NFTs) are digital tokens that live on the blockchain and can represent ownership of or interests in a musical work, music royalties, revenues, or communities. American singer Vérité is one of the earliest musicians to experiment with NFTs in February 2021. She has built a strong Web3 community and had several successful high-profile drops while still retaining her dedicated non-Web3 fans. To successfully integrate Web3 into their career without alienating their existing fans, artists should be authentic and transparent about why they’re using NFTs and how they benefit them as an artist. They should also educate their fans about the technology so that they can understand why it’s important to them.
