NFT stands for non-fungible token. Most NFTs are part of the Ethereum blockchain. Ethereum is a large and well-known cryptocurrency, like Bitcoin, but its blockchain also supports smart contracts, including NFTs. These non-fungible tokens store extra information that makes them work differently from, say, a regular Ethereum coin.
Artists should consider doing an NFT to connect with fans directly and build brand awareness in a unique and cutting-edge way while raising funds for your next album, project, etc.
We are currently very selective over who we can work with on NFTs. Why? — While this feature is relatively simple to set up, financial results are not always guaranteed. We can work with:
NFTs have become hugely popular with cryptocurrency users and companies alike because of the way they are revolutionizing the gaming and collectibles space. Since November 2017, there has been a total of $174 million spent on NFTs. Recent music-related successes in this space include Grimes, 3LAU, Illmind, and others.
A variety of exchanges are available with NFT’s. That being said, anyone can do them on their own if they do the research and understand how it works. You certainly do not have to work with us exclusively if you do not want to.
The reason we’re doing this is because we feel that solely creating an NFT isn’t enough. We believe that you need a smart, strategic, tactical, and marketing-driven approach to ensure that your NFT does well in this market.
You do not have to be a digital distribution client to work on NFT’s with Symphonic. This application process is highly selective, and we will reach out to you directly if we feel that our services have potential to add value to your efforts and help make your NFT reach maximum value.