Recording artist Akon has had a really profitable music profession and has is creating his personal cryptocurrency-based metropolis. Now, he shall be combining his two loves as he plans on releasing his subsequent album as an NFT (non-fungible token).
In an unique interview with Esquire, the Locked Up singer discussed the significance of the crypto world and the way NFTs will tremendously assist artists of their careers now.
He at all times believed that recording artists “by no means actually obtained their justifiable share of the income for the work they produced.”
Believing that proudly owning their artwork digitally, within the type of an NFT, will go a good distance to be sure that the creator of the artwork will profit extra financially for that creation.
Akon additionally explains why he intends on releasing his subsequent album and all future music by way of the NFT route.
“My subsequent album goes to be an NFT album. With that, I’ll have the option to monetize it from the day it drops on each platform that exists. What which means is that it opens the door to full transparency the place your music is being performed, who’s enjoying it, the place they’re enjoying, and what number of occasions it’s performed. Financially, you get the royalty each time somebody shares it, so it is smart to me, and that’s the route I would like to go for all my future music releases.”
Akon could also be one of many first artists to have had an curiosity within the cryptocurrency world. Nearly 4 years in the past, he revealed the main points of “Akon Crypto City” whereas talking on a panel on the Cannes Lions International Festival of Creativity.
“I feel that blockchain and crypto could possibly be the savior for Africa in some ways as a result of it brings the ability again to the individuals and brings the safety again into the forex system and likewise permits the individuals to put it to use in methods the place they’ll advance themselves and never permit authorities to do these issues which can be conserving them down,” Akon stated on the Cannes Festival, in accordance to The New York Post.