A startup titled Snowcrash, with a focus on the Solana blockchain has made an announcement that Sony and Universal music will be a part of its upcoming platform. The platform is planning on dropping Bob Dylan and Miles Davis NFTs later this year.
The music industry has taken a noticeably strong interest in NFTs, which are unique tokens that exist on a blockchain such as Solana or Ethereum, for instance. Music artists are able to further monetize their content, with famed musicians like Dolly Parton, and Steve Aoki for instance, cultivating their NFT-focused brands.
Snowcrash will face off against other Solana-based NFT marketplaces such as Solanart and Solsea. OpenSea, which is known as the largest NFT marketplace, saw nearly $3.6 billion in sales just last month, but at the moment offers only NFTs minted on the Etherem and Polygon blockchains. Though, OpenSea might just add Solana NFTs, soon.
Sony Music is gearing up to work with Snowcrash in order to “develop a range of opportunities for our recording artists with a focus on delivering accessible, user-friendly experiences for both creators and fans,” said Dennis Kooker, Sony’s president of global digital business, in a statement.
Also echoing Kooker’s belief regarding Snowcrash providing artists with new opportunities, is Michael Nash, Universal Music’s EVP of Digital Strategy.