Presenting The RDU 98.5FM ŌMAP NFT 2022-2023 Collection

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The Ōtautahi Music
Access Programme (ŌMAP)
is able to subsidise access for
20 Ōtautahi artists or bands to produce unreleased pieces
of music. Each recipient is given access to SALTBOX’s full
studio capabilities and allows them the opportunity to
professionally write and record an original piece of music.
The collection is the result of their work, and features the
finished track from each artist.

The notion of a
secondary or third market for Musicians to realise value
from their creative work is worth exploring. It’s safe to
say, blockchain and cryptocurrencies are here to stay.
Collectively we are not afraid to get our feet wet in order
to support NZ musicians.

The collection is available
via OpenSea,
the world’s first and largest web3 marketplace for NFTs and
crypto collectibles.

The potential benefits of the
wide adoption of NFTs in the music business are numerous —
to name just a few:

  • Increasing licensing
    efficiency
    : making licensing easier, facilitating
    the exchange of music rights and creating a public record of
    ownership that can be used to resolve overlapping royalty
    claims.
  • New forms of investment:
    opening the music rights market to the general public. With
    the help of NFTs, artists can allow their fans to invest in
    their copyrights directly. There’s a good reason labels
    and publishers are a part of the artist’s careers — and
    the point is not to bypass them completely, but to enable
    other sources of investments.
  • New ways to
    monetize music
    : Most NFTs marketplaces
    automatically pay out royalties to the creators whenever the
    NFTs are bought and sold. Hence, artists can earn a bit of
    royalty every time their digital art piece is
    flipped

RDU 98.5FM and its partners continue to
explore the outer boundaries and future potential that
enables musicians to make informed decisions about new
revenues.

SALTBOX Studios has also begun to develop
resources that teach musicians how to create and sell
NFT’s – WHICH CAN BE FOUND
HERE.

© Scoop Media

 



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