Grammys to Release NFTs Celebrating Music Artists for Three Years

Mordenising the method with a crypto-twist, the Grammy Awards have introduced three yearly sequence of non-fungible tokens (NFTs). These digital collectibles will probably be impressed by award winners and nominees from the music trade. These NFTs will mark the sixty fourth, sixty fifth, and 66th editions of the awards. The Grammys have partnered NFT platform OneOff for 3 years to facilitate the NFT sale and buy.

The award physique, parented by the California, US-based Recording Academy, introduced the event on Twitter whereas revealing particulars of its new partnership with OneOff. The NFT platform is constructed on the energy-saving Tezos blockchain and bridges the hole between music followers and their favorite artists.

The responses across the publish are brimming with pleasure from NFT lovers.

“The NFTs will probably be launched as collectibles and experiences celebrating the Grammy Awards, nominees and recipients, together with tokens designed by world-famous crypto artists utilizing the long-lasting Grammy Award itself,” an official assertion from the Recording Academy mentioned.

With out revealing any monetary particulars, the Grammys have additionally revealed {that a} portion of the NFT proceeds will probably be deposited within the scholarship fund of the Recording Academy.

Commenting on its partnership with the Grammys, the founding members of OneOf mentioned, “if used to their full potential, NFTs will empower the music trade in a approach few different applied sciences ever have”.

As of now, no leaked glimpses or teasers of the NFTs have surfaced on social media.

In the meantime, a number of different manufacturers are additionally getting into into the NFT house after the gross sales quantity of those digital collectibles surged to $10.7 billion (roughly Rs. 79,820 crore) earlier final month, a report by DappRadar mentioned.

Just lately, McDonald’s additionally introduced a 10-piece restricted version NFT assortment celebrating the fortieth anniversary of its McRib sandwich.