On April 20, the rapper, songwriter, and businessman posted Death Row Session: Vol. two sure Sound.xyz in the form of NFTs. In a single day the 1,000 copies were sold for a total of 100 Ethers (ETH), a little over $300,000 at the time.
This time he took a different approach. He shouted out Iman Europe, MoRuf Adewunmi, Black Dave and Heno, who are known for paving the way for Web3 artists.
Web3 and NFT doom traditional record labels!
Recently, various celebrities have been promoting NFTs, either to promote their own collections or to promote a new investment. Artists are increasingly turning to this sector as they see it as a more lucrative method of making a living than what the traditional music industry has to offer.
Instead of relying on a label or streaming service, blockchain technology allows artists to set their own prices, receive royalties from secondary market sales, and communicate directly with their fans.
Web3 is seen as the future of the music industry.
Nigerian American rapper MoRuf (34) told Fortune: “ Web3 is credible and a real phenomenon. It has allowed us to sustain ourselves through our work and form a community that we never imagined existed.. That is his strength.”.