Bob Dylan goes meta as Sony and Universal partner with Snowcrash NFT platform

Solana-based NFT marketplace Snowcrash has announced that Sony Music and Universal Music Group — the 2 largest euphony labels successful the satellite — person officially partnered with the upcoming platform.

The 2 euphony labels volition merchandise Bob Dylan and Miles Davis NFT collections aboriginal this year, up of wider integration with their rosters of artists. Jesse Dylan, who astir apt not coincidentally is Bob Dylan’s son, is the co-founder of the Snowcrash marketplace, which draws its namesake from Neal Stephenson’s 1992 sci-fi novel that besides invented the word Metaverse.

Bob Dylan is simply a large concern by some labels: UMG spent astir $400 cardinal connected his opus catalog successful 2020, portion Sony bought his recorded euphony rights for much than $150 cardinal past year.

In a statement, Dylan the younger stipulated that the existent marketplace for NFTs is conscionable “the extremity of the iceberg” and that helium opted for the Solana blockchain implicit the Ethereum web to motorboat the level due to the fact that helium believes it is amended for the environment.

Snowcrash volition vie with existing Solana-based NFT marketplaces specified arsenic MagicEden and Solanart, the 2 starring exchanges by trading measurement connected the chain.

Dennis Kooker, Sony’s president of integer concern said that Sony Music is moving with Snowcrash to “develop a scope of opportunities for our signaling artists with a absorption connected delivering accessible, user-friendly experiences for some creators and fans.”

Echoing this sentiment, Michael Nash, the enforcement vice president of Universal Music, said that, “[NFTs] alteration our artists and labels to beforehand their taste power astatine the forefront of innovation.”

Snowcrash besides has a associated task with cryptocurrency speech FTX and is simply a strategical spouse of Solana Labs.

The euphony manufacture much broadly has taken a keen involvement successful NFTs arsenic a mode to further monetize contented and make unsocial communities, with fashionable artists specified arsenic Nas, Steve Aoki & Kings of Leon each netting millions of dollars from NFT sales.

Related: Record statement CEO explains however euphony NFTs are acceptable to revolutionize the industry

Sony and Universal aren’t the archetypal large euphony labels to task into the Web3 space, with Warner Music Group partnering with play-to-earn crippled Splinterlands.

Oana Ruxandra, main integer serviceman and enforcement vice president of concern improvement astatine WMG said that gathering customized tokenized games allowed WMG to, “unlock caller gross streams for our artists who person an involvement successful the abstraction portion elevating the relation of fandom and community.”