Electronic DJs Steve Aoki and Justin “3LAU” Blau are launching a CryptoPunks-inspired music NFT collection, “Punx”. The collection’s first song, “Concentrate”, will release on Royal this Friday.
Quick Takes:
- Electronic artists Steve Aoki and 3LAU are debuting a CryptoPunks-inspired music NFT collection dubbed “Punx”. The first song out of the collection is “Concentrate”, which will launch this Friday.
- The duo aims to give back to music NFT collectors by distributing 50% of “Concentrate” royalties to 99 selected holders from Aoki’s A0k1verse Passport, Blau’s collectibles, and the CryptoPunks community.
- “Concentrate” consists of 99 NFTs that collectors can buy and trade on Royal. Blau co-founds the platform, focusing on giving music fans a share of song royalties through NFTs.
What are Punx Music NFTs?
Drawing inspiration from the roots of CryptoPunks and with a solid plan to innovate the music industry, Aoki and 3LAU are set to launch their first music NFT track, “Concentrate”. The digital asset is the first part of their special album package on-chain, “Punx”.
Today, 3LAU shared the good news about what’s in the pipeline for the two artists:
The first song in the collection embodies the spirit of the blue-chip NFT collectibles, representing underground, first-of-its-kind, tech-driven music. The track has an industrial edge and a fast-pace, fit for festival goers and clubbers to enjoy.
What Sets the Punx Assets Apart
Punx will issue 50% of royalties generated by its first “Concentrate” music NFT to 99 select collectors. The collectors will be cherry-picked by the artists who are either NFT holders of Blau, Aoki’s A0k1verse Passport, or CryptoPunks. The reason being, to give back to NFT holders and members, to show appreciation for their continous support.
This action aligns with the artists’ interests. Blau is also the co-founder and CEO of Royal, the Web3 music rights platform that offers creators in the music industry and Web3 space for streaming royalties.
Consequently, to fairly distribute the royalties, all 99 Concentrate assets will debut on the CEO’s platform. The music will be tradeable on the platform after its issuance, with the digital assets likely going up in price through secondary sales on marketplaces.
3LAU and Aoki’s Synergy with Music NFTs
3LAU, Justin Blau’s stage name, is a leading electronic music. The renowned DJ has been at the forefront of music NFTs since 2021, generating millions of dollars through the relatively new technology. When first venturing into the space, he achieved a record-breaking sale of $3.6 million. This was due to selling exclusive content through NFT music. Since, he has garnered more than $11 million in total bids, selling multiple copies of his music to fans through such digital assets. Many of his NFTs also include exclusive audiovisual art.
Aoki is another well-known electronic music artist collaborating with “Punx”. The DJ has experience in the Web3 space, partnering with numerous brands — DeadFellaz, Stoopid Buddy, DraftKings, etc. — in the NFT space to build stronger relationships with fans. Moreover, he has his very own metaverse, “A0K1VERSE”, which combines his career’s worth of music, art, and networking into one hub through NFT incentives. As fans collect more NFTs, more of Steve Aoki’s world sheds light. Since joining the Web3 space, he claims to have made more through selling NFTs than music royalties from record labels.
Perks of Music NFTs for Artists and Fans
Music NFTs have emerged as a groundbreaking development in the music business, offering state-of-the-art opportunities for fans, artists, and collectors. Using blockchain technology to create digital identities for music assets, Music NFTs can provide verifiable ownership and authenticity for digital music items. This includes songs, music videos, and exclusive content.
The rise of music NFT marketplaces allows artists to monetize their work in innovative and fresh ways. For example, musicians can create one of one edition or limited edition NFTs of their music, music videos, or other creative assets. This allows fans to own a rare piece of their favorite artist’s work. Moreover, enable artists to raise money and control their intellectual property.
As such, these digital assets can revolutionize how artists and fans interact to generate more revenue. As non-fungible token technology evolves, new NFTs are poised to play an essential part in the music industry and NFT market.
By leveraging smart contract technology, Music NFTs represent fans access to special events. This includes concert tickets that open front row seats, experiences, or merchandise. Consequently, one of its special perks includes opening up a more direct relationship between artists and their fan base. Creating a stronger bond between musicians and their audience makes fans feel more connected and engaged with their favorite artists. Therefore, leads to more of these unique assets to be bought and sold.
Some of the largest artists in this innovative musical space include Aoki, 3LAU, Kings of Leon, Deadmau5, Shawn Mendes, Josh Katz, and more. Check out these top 5 music NFT projects to never be forgotten.
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