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Muse, a famous British alternative rock band, is riding the music charts thanks to their new NFT album.
Theirs was certainly a bold and avant-garde move.
The NFT album, which is currently topping the charts, is their ninth album and is titled “Will of the People,” a limited-edition collection by one of the most popular British bands.
The sales figures for Muse’s NFT album
The album in question – Will of the People – sold as many as 51,500 copies in its first week alone.
It is necessary to point out that only a part of the copies sold and on the market was in the form of Non-Fungible Tokens.
In fact, the music band decided to issue only 1,000 NFTs of their album to the market in total.
These numbers also confirm that the band’s new musical NFT is even more rare and valuable than previously thought.
By doing some quick calculation, it turns out that if by hypothesis all tokenized versions of the record were sold in the UK, they would account for at most 1.96% of the total.
The digital release of Will of the People includes a downloadable version of the album and features an alternative cover digitally signed by members of Muse!
This is the band’s seventh project to reach the top of the charts, thus winning the same number of chart toppers as Elton John, Paul McCartney, George Michael, the Prodigy, and the Killers.
Music and NFTs
The music industry has been turned upside down over the years and continues its inevitable evolution to this day.
The Non Fungible Tokens seem to be emerging as the best next step for all music bands.
It is safe to say, then, that Muse’s choice to launch some copies of their album in the form of NFTs was certainly a pioneering choice.
What are the advantages of using NFTs in the music industry?
First of all, applied to music, NFTs make it possible to make the audio file unique and give a certification of ownership to those who buy it.
In fact, this tool has already been used by other well-known faces in the music scene.
A few examples: Grimes sold a collection of music video clips for $6 million on the Nifty Gateway marketplace. Even Calvin Harris, The Weeknd, Deadmau5, and Steve Aoki have successfully sold their first Non-Fungible Tokens.
Kings of Leon, on the other hand, associated their last album with three different NFTs: the first entitled to limited edition vinyl, the second gave access to the front rows for future concerts, and the third to exclusive collectibles.
As far as the Italian music scene is concerned, we find singer Marco Castoldi, aka Morgan, who some time ago decided to embark on his own journey into the world of NFTs by putting the unreleased track, “Premessa delle Premesse,” up for sale on OpenSea.
The auction had actually closed only after a few hours with a bid of about $21,000 thousand from the famous NFT fund Poseidon DAO.