Elton John Bravely Launches an Epic, Non-Fungible Voyage

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Elton John has announced that he will make a big move into the world of non-fungibles. He is also blazing a trail with a rock-themed NFT auction and a brand-new NFT gated fan club.

The slick rock star’s NFT journey starts with the auction of a one-of-a-kind virtual hoverboard for the metaverse. A beautiful piece from the studio of Voxel Bunny, an amazing digital artist, that shows key moments from the flamboyant star’s amazing career. It was inspired by his hit songs Rocket Man and Pinball Wizard. And it has the bold glasses that are his trademark.

Elton John to start his NFT fan Club

In addition to the one NFT auction, Mr. John will also start his own NFT fan club that only members can join. So, fans who buy the unique rocket-shaped NFTs will have access to a wide range of fan experiences, like getting tickets before they go on sale and entering one-time competitions. To make this project possible, Rocket NFTs are on sale for the low price of $29.99 until July 5.

So, get ready to blast off with Rocket Man as he rides the unchangeable juggernaut into history.

Collectors who want the item can bid on it from now until June 22 at 6 p.m. ET, which is when the auction ends. After that, the talented people at Jadu will make the grand item useful in games. After the sale is over and the dust has settled, all of the money will go to the Elton John AIDS Foundation.

About Music NFTs

Music NFTs are music tracks stored on a blockchain as unique, non-fungible tokens that only belong to the NFT’s owner. But Music NFTs are not like mp3s that you download to your phone. The musicians get royalties for every sale on the secondary market.

How do Music NFTs work?

When it comes to the music industry, music NFTs can take many different shapes. It can be an audio file or video of a song, the cover of an album, a ticket to a concert, or something signed by the artist, among other things.

The same basic idea applies when making or selling music through an NFT. A musician or band will decide what they want to sell to their fans, such as an audio file, concert tickets, or merchandise. Then, they will decide which blockchain or Music NFT platform they will use to mint their NFT. Some of the Music NFT platforms that are currently available are NFT TONE, Opulous, OpenSea, and others.

After deciding which platform they want to use, they will let their fans know when their NFT drop is coming out and sell their works for whatever price they want.

Since music NFTs and all other NFTs cannot be duplicated. They might decide to sell an audio file only once, with the highest bidder getting the original file (but not the copyright). They could also decide to make only a certain number of NFTs of the same audio file, say 10,000, and then sell them on a marketplace for music NFTs.

When a fan buys NFT, they own a piece of music by their favorite artist. Then, they can store the music NFTs in their crypto wallets and, if they want to, sell the NFT to someone who will pay more for it in the future. Even though the musician who made the NFT owns it and can sell it, they can also make money from re-sales of their work. This is one of the most powerful ways that music NFTs can help musicians.

Apart from Elton John, other musicians are utilising Music NFTs

Music NFTs have already helped a number of artists and bands. For example, DJ 3LAU’s “Ultraviolet Collection” NFT drop set a world record by selling over USD 11.6m. This came from one auction where 33 different tokens were sold. Also, the Canadian musician Grimes sold digital artworks as part of a collection called WarNymph, which brought in about USD 6 million at the beginning of 2021.

At the moment, only a few musicians are looking into whether or not music NFTs could work. But as fans learn more about music NFTs and start using them, the chances for artists to make money from the sale of music NFTs are growing a lot.

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