Web3 enthusiasts view NFTs as a way to revamp artists music ownership, and crypto startup, Vault, is orchestrating an innovative path: harnessing special edition live concert recordings to rekindle the traditional era of ‘cassette culture’ and benefit independent artists during the process.
‘Cassette Culture 3.0’ will offer weekly drops of live recordings from up-and-coming musicians through its Solana-based NFT music platform. The project is designed to showcase upcoming artists by creating and distributing recordings via digital cassette tapes.
— Vault Music (@vaultmusichq) August 3, 2023
Uplifting the Next Era of Indie Artists
Already bringing music to people’s ears, ten live recordings from artists that perform at New York venues, like the celebrated Bowery Electric, Baby’s All Right and The Brooklyn Monarch, are available to acquire as music NFT albums, with more than 30 more artists in the pipeline: including, Middle Part, Sum Sun, Sid Simons and Charlotte Rose Benjamin, among other talents.
The owners of the NFTs can listen to their albums through Vault’s dedicated mobile app for approximately $5 – $10, acquirable in either crypto or fiat. Only 100 to 150 editions are available through the drop, opening up other unique features like behind-the-scenes content and live performance videos as extra perks.
All upcoming musical maestros will receive a generous 70% of the proceeds from each sale, with Vault covering credit cards, minting and storage fees, while also handling the mixing and recordings of the artist’s live performances.
Next on deck, Vault is ready to expand its presence, synchronizing with venues in London and Amsterdam. A new wave of bands from these cities are working toward building their reputations, performing live before releasing their music on streaming platforms.
This groundbreaking Vault music ownership initiative presents a favorable time for the music industry, offering unique experiences for music buffs and empowering underground musicians on their music-making journeys.
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