Hip Hops Deep Dive Into The Metaverse: From Wu-Tang Clan to Tory Lanez & Jay-Z SOHH.com

sohh October 22, 2021 Tory Lanez 3
Hip Hops Deep Dive Into The Metaverse: From Wu-Tang Clan to Tory Lanez & Jay-Z  SOHH.com

Cryptocurrency and NFTs are taking the rap game by storm. Every day more and more mainstream artists are finding innovative ways to incorporate their music i

October 20, 2021 Tory Lanez NFT Flip Tory Lanez is another rapper who has tapped into the future of hip hopby selling his own music as an NFT. Lanez partnered with a platform called E-NFT to release his new album When Its Dark as an NFT, or non-fungible token The idea was for each copy of the album to be minted with a one-of-a-kind token. The value of NFTs comes from their scarcity. Even if someone is able to copy a digital file, the blockchain certifies its origins. Similarly, the idea was for Lanezs NFT album to appreciate in value once it became available to resell on the E-NFT marketplace. On the day of the launch, Lanez posted a video to Twitter saying that the album sold one million copies in under a minute and that one of his NFTs had already been flipped for $50,000. Crypto-HOV Jay Z is the latest rapper to hop on the Metaverse trend. JAY-Zs Marcy Venture Partners venture capital firm (MVP) recently invested in Spatial Labs a tech incubator that will focus on cryptocurrency and blockchain developments and products. Crypto aficionado Ian White, whos been trading the digital currency for over a decade, believes the new NFT and metaverse moves by hip-hop artists are here to stay. I anticipate that this will become a go-to method for copywriter owners, publishers, and independent artists with active fan bases to essentially create Metaverse products and initiatives that generate income in a manner that was virtually achievable in the past, says White. This will become the go-to tactic Jay Z essentially building his own ledger on blockchain and his own fiat currency is essentially creating the infrastructure to host these initiatives on a platform he co-owns. Eminem Banks NFT Millions, Doja Cats Juicy Drops, Akons Empowering Crypto Rap mogul Eminem recently partnered with Nifty Gateway to release a series of NFTs and in one week it was made clear hes still one of the most popular names in entertainment. The Eminem collection brought in about $1.8 million in sales, surpassing artists like The Weeknd and pop singer Grimes, who recently dropped their NFT collections. Grammy-nominated artist Doja Cat is taking the NFT wavein stride with her latest collection release. The R&B singer launched her custom-curated NFT marketplace, Juicy Drops, along with her debut NFT collection on April 23. Music veteran Akons newly-announced non-fungible tokens (NFTs) platform aims to supercharge and empowerfellow artists.

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