There has been a steady stream of NFT announcements since Music Week began reporting on the tech trend a year ago. But the latest launch underlines the range of mainstream artists (or at least their heirs) embracing non-fungible tokens.
It follows a big deal last week between Warner Music and NFT swap platform Blockparty. In our interview today with TuneCore CEO Andreea Gleeson, she confirms that the company is looking into the NFT opportunities for DIY artists.
Tyler Henry, managing partner, Range Media Partners, and co-founder of Sturdy.exchange, recently cautioned the music industry on its approach to NFTs.
“To be honest, I think a lot of music NFT projects were done as a way for artists to make some money,” he told Music Week. “The music industry really needs to understand the potential of the space and take time!”
Music icon John Lennon and The Wombats, who are currently at No.1 with their fifth album, are the latest acts to release NFTs (although it should be noted that Lennon’s is not directly from his Estate and not based on his recording career).
YellowHeart, the NFT marketplace for music, ticketing and community tokens, and Julien’s Auctions has announced Lennon Connection: The NFT Collection, an exclusive auction presenting NFTs of Julian Lennon’s private collection of Beatles iconography and personal items from his father John Lennon.
This first drop consists of items of John Lennon’s, as well as gifts and memorabilia from his own life and childhood. Each item is narrated by Julian Lennon personally with a specific memory. Highlights include the Hey Jude notes written by Paul McCartney (starting at $30,000) and an Afghan Coat from The Beatles’ Magical Mystery Tour (starting at $6,000).
The NFT auction will be held live in Beverly Hills and online on February 7. It was announced by Julian Lennon, his management and the auction site, not the John Lennon Estate.
“As an artist, I have great respect for all that my father accomplished in his career,” said Julian Lennon. “As a son, I hold dear the good memories I have of my time with him. I feel incredibly lucky to live in a day and age where innovation allows me to share such personal pieces of my Lennon family history. Through this NFT collection, I’m able to grant exclusive access to special items that I cherish and carry on the legacy of my father in a new way.”
I’m able to carry on the legacy of my father in a new way
“Julian is a true entrepreneur at his core who embraces new technology as a channel for creators of all kinds to present art in innovative ways and also as a means to give back,” said Rebecca Warfield, founder/CEO of Chicane Group and Lennon’s manager. “This first drop of the collection represents his undeniable connection with his father and the Lennon family legacy while inviting collectors to join this community with him.
“Throughout the years, he has reflected on various ways to display and share this special and intimate collection with fans. The NFT marketplace allows for just that and for collectors to own the only NFTs associated with Julian’s cherished pieces is beyond special.”
The John Lennon NFT offerings are a unique and non-interchangeable unit of data stored on the blockchain. Julian Lennon owns the one and only physical counterpart.
A portion of the sale proceeds from the NFT collection will benefit The White Feather Foundation (TWFF), which will use the funds to purchase carbon removal in the form of Nori Carbon Removal Tonnes (NRTs).
Meanwhile, The Wombats’ NFTs embrace the metaverse and unlock exclusive content, which shows what acts can do with blockchain technology.
Teaming up with the Kollectiff agency, the band will be releasing 3,000 Metaverse-ready NFTs to be minted from February 8. The drop will be completely carbon negative, ensuring all emissions from the mint are offset 21 times over.
Fans will be able to purchase their own avatar that can be used in virtual gaming world The Sandbox. It also provides access to a blockchain game that unlocks unheard B-sides, VIP tour tickets, rare memorabilia, virtual meet & greets and tickets to a virtual concert in a purpose-built stadium in the Metaverse.
The Wombats' NFT comes at a premium price that suggests it's targeted at super-fans. Users will be able to mint their NFT for £140 (0.07 eth) from The Wombats website.
“We can’t wait to share this NFT experience with our fans,” said Dan Haggis, drummer of The Wombats. “The Metaverse has so many exciting opportunities and it’s incredible to be a part of this mind-blowing technology. We really wanted to create something unique and multi-dimensional so we couldn’t be more excited for fans to see all the different experiences the NFT offers, particularly the concert at Kollectiff’s stadium in the metaverse.”