The legends of rock music, the British band Muse, are about to bring a breakthrough to the NFT music arena. Their ninth studio album, dubbed Will of the People, will be released as an NFT version, becoming the first chart-eligible album in such a format in the UK and Australian history.
To make it happen, the eco-friendly NFT music platform Serenade has come up with a brand-new music format – Digital Pressing. In simple words, this is a chart-eligible music format that combines all the benefits of a physical release and the convenience of digital downloads. It was created to help the most zealous fans enjoy the releases of their favorite musicians to the fullest, taking into account the community connectivity and product scarcity.
The NFT edition of the Muse album will spearhead this brand new movement. Even though the NFT albums became eligible for the charts several months ago, this is the first release ever where the vendor, in this case, Serenade, is approved as a chart-return digital retailer. Thus, Will of the People will become the first to be released an entire album as an NFT.
It will be limited to 1,000 copies globally and priced at £20. All buyers will get a downloadable version of the album with a digital signature by the members of the Muse band. In addition, each of the 1,000 buyers will get their names permanently listed on the linked roster of purchasers. The original buyer has a right to resell it with 15% of the resale price going back to the band and the rights owners, namely Warner Music and Universal Music Publishing.
The special thing about the purchase is that a crypto wallet is not required. A digital wallet will be created on Serenade’s website after the purchase and NFT will be transferred directly there. In case buyers have existing crypto wallets, such as BitCoin or Ethereum, they can use them.
“There has been loads of noise about NFTs being the future of music, the future of entertainment, the future of ownership,” says Martin Talbot, chief executive of the UK’s Official Charts Company (OCC). “It’s great this is becoming a reality.”
This is not the first appearance of Muse in the NFT realm. However, this one feels to be truly groundbreaking. Such a move is set to launch a new vector in music development. What do you think? Go to our socials for a discussion.