"Why can't music be seen like a Basquiat or like Kara Walker? It needs to be seen in that same world because the energy that some artists are putting into their music is just as full."īut while the push for rappers to get into the NFT space is louder than ever, those who are already immersed caution that it's not a natural fit for every kind of artist. "When you go to a gallery, people don't question the price of an art piece on display and I'm like, Why can't we do that for music?" Latashá says of NFTs. Now, ETH's value has dropped significantly in recent months, as have a lot of cryptocurrencies. Last December, she sold a music video for 13.4207ETH, the equivalent of over $50,000 the time. She works as Head of Community at Zora, an artist-friendly NFT platform, and has sold songs, music videos and other pieces of original artwork for a big profit. She began selling NFTs in 2021 and has become a fixture in the NFT community.
When she saw her partner, artist Jahmel "Jah" Reynolds, earning good money on his artistic terms through the sale of NFTs, she realized it could be a logical fit for her creatively. Latashá Alcindor, an independent rapper and multimedia artist who always relied on multiple income streams to support herself, became interested in NFTs after the pandemic halted live performances. "People don't get no breaks and spent most of his life locked up, so out of his artistry may be a chance for him to get a break and live life like I did for a little while," Jones conveys. Inspired by coveted releases like Cryptopunks and Bored Ape Yacht Club-which between the two count Jay-Z, Snoop Dogg, Eminem and Future as owners-Jones reached out to his tech contacts to see about bringing the different illustrations to this new marketplace. In February, Jones announced a new NFT project, Badazz Bears, which is based on drawings that his uncle did while incarcerated. The general move towards blockchain technology, which is built around inalterable public ledgers, is often referred to as "Web3." Ether-that thing a picture of Jim Jones' necklace is worth two of-and Bitcoin are two of the main forms of currency used for these transactions. NFTs are part of the explosion of blockchain technology and are essentially unique pieces of data that can be purchased and sold using different cryptocurrencies. The rise of NFTs has been inescapable in the last few years and was almost certainly expedited by the COVID-19 pandemic forcing everyone to spend even more time online. "It blew my mind, like, we can make money off selling pictures of things that I own? I was like, Oh, NFT is the next wave." I wanna show you something about this thing called NFTs.' I sent him a picture of my VampLife piece and he ended up selling it for two Ether," Jones remembers of first hearing about NFTs. "My friend said, 'Send me a picture of your chain. The Harlem rapper has been in the game for over two decades and hustling for even longer, so when someone showed him the profit potential of NFTs, it didn't take long for him to see dollar signs. While it wasn't during the season of gift-giving, Jim Jones' discovery of NFTs was a gift in itself. "Now you're having a Christmas party and you're seeing something that no one else in the world is seeing at your Christmas event." "Think of one of your favorite artists singing their favorite Christmas carol in front of their Christmas tree and they drop that as an NFT and you write in the smart contract that it can only be watched during Christmastime," Rodgers explains. The tech company in the entertainment world works with musicians and athletes to create unique digital memorabilia projects with unique benefits and utility.
The ability to provide passionate supporters with new perks was also one of the main sells for Fanpage CEO Billy Rodgers. She's using the medium to provide fans with exclusive benefits and songs. The New York rapper released a capsule of five NFTs on the Serenade NFT marketplace in April, based on the biggest musical moments of her career thus far.
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