Muse’s album “Will of the People” will be the first NFT to qualify for the UK charts. Since streaming in 2015, this is the first time a new format has been accepted. This could be a major turning point for the global music industry …
On August 26, 2022, the British rock band Muse will release their ninth album: Will of the people. This album will be marketed as a non-fungible token (NFT) edition, and will thus become the first NFT to enter the UK and Australian music charts.
This is the first time a new format has been added to charts from music streaming in 2015. This publication is therefore a turning point for the music industry.
The black NFT t-shirt
The album will be sold in NFT format through the Serenade platform, considered more environmentally friendly. By February 2022, this platform had been sold the official NFTs of the BRIT Awards to the tune of £ 10 per unit.
According to Max Shand, founder of Serenade, The Muse album will become the ” NFT black t-shirt “. It will make it possible to democratize this digital format, simplifying transactions.
Indeed, in Shand’s eyes, ” what a fan wants is something simple and understandable but that gives a feeling of closeness to an artist and a form of recognition from other fans “.
How to buy Muse album in NFT?
Unlike many NFTs, you won’t need to own a crypto wallet to purchase the album. After making your purchase on the Serenade website, a digital wallet is created automatically and the NFT is transferred there. However, it is also possible to use your own crypto wallet.
It has now been several months since the UK’s Official Charts Company (OCC) album licensed as NFT for graphs. However, Serenade is the first seller to be recognized as a verified digital merchant.
According to Martin Talbot, CEO of the OCC, ” there has been a lot of noise about NFTs like the future of music, the future of entertainment, the future of ownership. This is great that this is becoming a reality “.
He clarified that the Muse album did not prompt the OCC to update its eligibility rules. It is simply the first album to meet the admission criteria.
In April 2022 the British indie rock group Amazon has marketed an NFT limited to 100 copies offered with pre-orders of his album ” How will I know if heaven will find me? scheduled for September. However, this NFT was sold as an accompaniment and not as a standalone product.
A rock band focused on innovation
For several months, Serenade chatted with Muse’s record label, Warner Records, the release of an album in NFT. This group has emerged as an obvious choice as it worked with the CryptoKitties blockchain platform in 2020 to create digital collectibles.
According to Sebastian Simone, Vice President of Audience and Strategy at Warner Records UK, “ the group has always been at the forefront of technological innovation in his creativity and in his art “.
Muse’s NFT album will be released for £ 20e limited to 1000 copies. Just think that it will be an object of desire for fans all over the world …
Buyers will receive a downloadable version of the album in high resolution FLAC format. Any NFT will be digitally signed by Muse members and each of the 1000 buyers will have their name permanently registered on an official list.
The future of the music industry?
While this NFT is the first album eligible for the charts, it is This edition is unlikely to have a major impact on sales from ” Will of the people given the low number of copies.
However, Simone believes there is ” definitely ways »Engrave the rankings thanks to NFT. He is pointing out that ” for Muse, it’s not really essential as they already have tens of thousands of pre-orders. We anticipate a first place since the week of release “.
Of course, like any NFT, it will be possible to resell it. note that 15% of the resale price will be donated to the groupWarner Music and Universal Music Publishing.
On the other hand, OCC confirms that the resales of the album will not be do not consider new sales for graphs. The artists therefore will not be able inflate their sales figures thanks to NFT traffic …
For the future, we can imagine bonuses and additional prizes added to the album over time. The NFT will be able to grow rich as the clips accompany the album wherever the group holds concerts.
Either way, Simone says Warner is convinced NFTs represent the future of the industry musical. He announces that other similar projects are already planned, and this one The Muse album will be “ the beginning of the door opening “…