how electronic artists dominated the space
How electronic artists dominated the NFT world
In the 2021 IMS activity report which has just been released, it explores everything from trends in live streaming to trends in social media and much more in the world of electronic music over the past year. We dive into it in a few articles and this one deals with how electronic music dominated the TVN trend. As we all know, NFTs have taken the digital world by storm. It seems like every electronic artist has created NFTs and made even more money with them. We all know the impact the two worlds have had is great, but the IMS Activity Report has shown us how important it is.
In the “Engaging Fans” section of the report (available for download and full reading here), which also details electronic artists and social media trends, there is a section that shows some interesting graphics as you can see below. below.
Image via: IMS activity report page 66
With artists like Steve aoki, 3LAU and Don Diablo Breaking sales records and selling NFTs for millions, it’s no surprise that 76% of all music-related NFTs worth $ 50.2 million are from electronic artists. Teaming up with digital artists and always looking for innovative ways to bring something new to the space (Don Diablo sold the world’s first hour-long NFT concert), the space has really gained traction. in early 2021 and exploded for a few months. Although it has proven itself for many artists, the world of NFT is still in its infancy, deadmau5 director Dean Wilson explains, it didn’t exist eight months ago.
Not only that, however, music services could use blockchain to their advantage to bring transparency and fairness to payments. Wilson also goes on to say:
“We are the most played music in clubs, festivals and bars but we are the lowest paid. Blockchain offers transparency. We could see the games and the payouts in real time. We all need to push as many use cases as possible ”
Image via: IMS Activity Report page 67
This extends beyond simple NFTs and could be extremely useful for artists in the industry, as noted above. Music recognition technology also ensures payment transparency and massively helps artists in the long run.
Main image credit: Andre M. Chang / Picture Alliance