The 64th Yearly Grammy Awards, at first scheduled for January 31 but postponed amid the Omicron surge, is last but not least set to consider position this Sunday in Las Vegas.
Large-identify performers which include K-pop band BTS, breakout star Olivia Rodrigo and newly minted Oscar winner Billie Eilish are all slated to conduct, with Trevor Noah returning as host.
Jon Batiste prospects the nomination checklist with 11 overall nods followed by Justin Bieber, Doja Cat, and H.E.R., with 8 nominations each individual.
On the other hand, the guide-up to this year’s award show provided some thing different to enthusiasts than in a long time past — a assortment of new music-inspired non fungible tokens (NFTs).
The Grammy Awards NFT Selection, which is portion of a 3-12 months partnership with the Quincy Jones–backed NFT platform OneOf, will come as the industry for NFTs has exploded in the music marketplace, providing new earnings streams and chances for track ownership by bidders and supporters.
“To be on the forefront of technological know-how though at the same time serving the tunes community with a new and revolutionary platform is only the commencing of what NFTs are performing to transform the musical landscape and to produce extra profits for new music creators,” Adam Roth, SVP of partnerships & business enterprise enhancement of the Recording Academy, explained in a press launch.
NFTs will be section of the songs ecosystem…This is not just a 2021 or 2022 trend…Lin Dai, OneOf Co-Founder
Numerous drops through the month of March bundled a free NFT offered to all supporters, as nicely as a solitary “golden ticket” NFT for an all-inclusive journey stipend for two to this year’s award exhibit. Charges ranged from $250 to $2,000 with choose “tiers” to bring in supporters at a wide range of rate details.
A part of the proceeds went to the Recording Academy’s scholarship fund.
“We intention to deliver NFTs to the mass purchaser,” Lin Dai, co-founder of OneOf, told Yahoo Finance all through a latest job interview.
“We applaud the Grammys for truly leaning into this new wave of technological innovation that is basically heading to be very instrumental and handy to artists’ careers,” Dai continued. He included that the three-yr partnership signals a “green light-weight that NFT and blockchain technologies is here to remain.”
“This is not just 2021 or a 2022 fad…[NFTs] will be component of the songs ecosystem,” the exec predicted.
OneOf recently introduced big partnerships with Warner Music Team (WMG), Sports Illustrated, and the top-rated syndicated early morning radio clearly show, “The Breakfast Club.” Its the latest Whitney Houston Selection manufactured headlines when a in no way-before-heard Whitney Houston tune, which the late artist wrote when she was 17, sold for $1 million.
Dai also uncovered that the firm landed an exclusive partnership with the Biggie Smalls’ estate, and will be generating Infamous B.I.G. NFTs in honor of the deceased rapper.
OneOf is the brainchild of Dai, together with executives Adam Fell, and Joshua James, who designed a corporation named Zig Media, which is normally referred to as the “Instagram of news” for distilling info into online video and photos.
The trio desired to make purchasing NFTs of different artists eco-welcoming, simple and obtainable to absolutely everyone.
Developed on the Tezos (XTZ-USD) blockchain, minting an NFT on OneOf’s platform takes advantage of two million occasions much less energy than other “evidence-of-function” networks. That implies minting an NFT on OneOf normally takes about the exact same volume of electrical power as just one Twitter submit, while minting an NFT on a “proof-of-do the job” platform employs the quantity of electricity of the common U.S. household about a period of 5.3 days.
Dai discussed that this special approach provides the minting charges down to “basically underneath a penny” — and makes it possible for for a more reasonably priced possibility for supporters.
OneOf accepts Bitcoin (BTC-USD), Ethereum (ETH-USD) and tezos for order, but you really do not have to use cryptocurrency, or have a crypto wallet to acquire an NFT on this system — you can only use a credit score card.
General, Dai disclosed that “blockchain can essentially improve a great deal of the inefficiencies that exists in the audio sector, and carry more transparency to payments and how artists, [including independent artists], can earn a residing.”
He went on to say that “building the community” will be essential for ongoing advancement and momentum.
“We are educating one artist at a time and just one detail at a time. We’re a system designed for all lovers, not just crypto whales.”
Alexandra is a Senior Leisure and Food items Reporter at Yahoo Finance. Adhere to her on Twitter @alliecanal8193