Although it is still in its early phase, music NFT has caught the attention of Indonesian artists and collectors alike, turning them into believers of the system.
In the past few years, non-fungible tokens (NFT), a digital asset stored on a blockchain, have been gaining popularity among art collectors and artists alike. But it was in 2021 that NFTs really started to rise in prominence, thanks to a number of mind-blowing, high-value transactions, including the highest one to date: in March, the digital artist Beeple sold an NFT of one of his artworks for a whopping US$69 million.
Musicians followed suit as well, with American rock band Kings of Leon and electronic musician Steve Aoki becoming among the early adopters who made millions of dollars from selling their music as NFTs.
Are these kinds of numbers sustainable? Maybe not. Those artists were already popular internation…
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