TuneGO, a technological platform that generates a digital fingerprint for individual songs and accompanying information, is following in the footsteps of many enterprises and institutions by expanding into the non-fungible tokens (NFTs) industry.
This year, the company will launch an NFT marketplace, giving artists a centralized platform to protect their work, mint NFTs, distribute to streaming platforms and earn via social media, video games, and films.
TuneGO is also working on a long-term, non-profit, technological initiative with Hidden Beach Recordings. According to TuneGO co-founder and CEO John Kohl, an announcement with a major label is on the way, and the business is working on NFT content for several A-list artists.
The first track to be released on the new site is an unreleased tune from Method Man’s Tical World Comic Universe, which is part of a comic series including previously unheard music from the artist.
According to Kohl, his current talks with the label are focused on the fact that they need more expertise, ability, or technology to do such an initiative. In other words, TuneGo NFT needs to collaborate with someone who can assist them with the execution on the creative side.
TuneGo Is Determined To Champion The NFT Music Business
“Our ultimate aim is to become the default marketplace for the music business,” adds Kohl.
TuneGO’s entrance into the NFT arena provides artists with a direct channel to connect with fans and monetize their work both within and outside of the traditional music industry.
Lesley Silverman, who heads United Talent Agency’s digital assets section, says that NFTs have great potential for musicians.
According to Silverman, in order to help remove the hesitancy surrounding NFTs due to it still being a fairly new concept, artists and their fan bases must show a genuine interest in the blockchain and cryptocurrency industries.
Dapper Labs Looks Forward On The Cooperation
Blockchain is altering how people use and engage with our digital environment, explains Mickey Maher, Dapper Labs’ director of flow partnerships.
“Blockchain is changing how individuals interact with and utilise our digital environment. Our collaboration with TuneGO enables the creative community to use blockchain technology to revolutionise how artists and their fans create and consume content, while also protecting what they own and sell,” he continued.
TuneGo’s React Positively On Projects With Indie Musicians
“We can work with labels, but surely our door is open to the independent music community,” says Kohl, who claims that independent music accounted for a third of overall industry revenue.
He said that he appreciates how artists are becoming more educated, since they now have access to additional ways for releasing their own music as well as the chance to become well-known on social networking sites such as Facebook and YouTube.
Perhaps most importantly for musicians, the TuneGO platform provides the tools required by the music community to ensure that every stakeholder is paid for their work via transparent creator splits that track the income of NFT sales.