To say that the market for NFTs has exploded over the course of 2021, would be a substantial understatement by most yardsticks. According to JPMorgan, the global market has climbed from around $400 million at the beginning of the year, to a staggering $7 billion market cap.
While art-related NFT content continues to dominate the space, music NFTs have been widely embraced, especially within the indie sector, but that has not stopped some big names trying to get in on the action.
Kings of Leon, The Rolling Stones, Grimes, and Shawn Mendes have all released NFT content, either in the form of albums, songs or band related artwork.
However, one North American company is looking to disrupt this pattern by actually using NFTs to build stronger relationships between the artists and their fan base, connecting them in a way that goes beyond what is already achievable in the communities built on social media engagement.
Award-winning blockchain pioneer CurrencyWorks has partnered with music industry veterans Crown & Ace to form MusicFX, a dedicated NFT platform for artists to collaborate with on building closer relationships with those that support them.
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In setting a new agenda for the industry, artist signings are going to be key and MusicFX has announced that rising country music star Parker McCollum has agreed to launch his first NFT through the new platform. The platinum-selling “Pretty Heart” singer is now set be the first musician in the world to release a fan club NFT – the Gold Chain Cowboy Club Black Card.
With a limited number of memberships, those lucky enough to join will be rewarded with experiences, merchandise, and VIP event invitations, not only made exclusively through MusicFX, but offered with full input from Parker himself to add the ultimate personal touch to those supporting him.
Having recently made his first appearance on Jimmy Kimmel Live! and being named on The New York Times best songs of 2021 list, Parker McCollum is an impressive debut for the fledgling MusicFX.
Speaking at the launch of MusicFX, CurrencyWorks Chairman and Co-Head of MusicFX, Cameron Chell, said: “I’m delighted that Crown & Ace and Parker McCollum are joining us to launch MusicFX. Expanding into the music industry was a logical next step following the success and innovation we have delivered within the NFT space this year. I’m incredibly excited by what this new platform will deliver.”
Billie-Jo Aasen, CEO of Crown & Ace, and Co-Head of MusicFX, was equally positive: “We are absolutely thrilled to be working with Parker on this new venture. We want to go beyond what other music NFT platforms are offering and provide a space that builds a strong lasting relationship with the artists we work with, and allow them a more rewarding experience with their fan base. This will be at the core of MusicFX.”
The Gold Chain Cowboy Club Black Card NFT will go on sale later this month.