As legacy artists head to large investment firms to sell their publishing rights, Jacques Greene is taking a more future-forward path by selling the publishing of a forthcoming single using blockchain technology.
Yesterday (February 21), Greene entered the world of non-fungible tokens (NFT) with the reveal of new song "Promise" on cryptocurrency marketplace Foundation.
While "Promise" is not yet available to hear in its entirety, the Canadian producer is offering "the publishing rights to the eventual song release, in perpetuity" and an accompanying audio/visual art piece to the highest bidder.
An auction history shows four total bids made on "Promise" through the Ethereum blockchain, with users bidding using cryptocurrency Ether (ETH). At the time of publication, the leading wager on Greene's NFT is 7.00 ETH, which holds a value of about $11,894.68 USD.
An NFT is a unique cryptocurrency token that can be used to verify authenticity and ownership within a blockchain network.
Recent years have seen crypto-native and traditional artists across mediums enter the NFT-based art market as it surges alongside cryptocurrency markets. Last week, a piece of NFT art depicting Pop-Tart-bodied internet meme NyanCat was "remastered" and sold by its creator on Foundation for 300.00 ETH (about $590,000 USD).
Greene's longtime label home LuckyMe can also be found among the featured creators on Foundation's home page. Last week, the label sold a piece of NFT art that originally appeared on the labels of Hudson Mohawke's 2008 vinyl release Ooops! for 0.6899 ETH (about $1,174.18 USD), marking their "first bespoke offering...within this medium."
"I'm excited (and scared) of what possibilities and promises lie in this field, and for arts and culture in general," Greene wrote yesterday. "I have a lot of hopes and fears tied to it. much rather think and talk about what might happen than sitting around feeling dread."
Greene recently appeared on a new song from Cadence Weapon. Last year, he shared a deluxe edition of his 2019 album Dawn Chorus.
Yesterday (February 21), Greene entered the world of non-fungible tokens (NFT) with the reveal of new song "Promise" on cryptocurrency marketplace Foundation.
While "Promise" is not yet available to hear in its entirety, the Canadian producer is offering "the publishing rights to the eventual song release, in perpetuity" and an accompanying audio/visual art piece to the highest bidder.
An auction history shows four total bids made on "Promise" through the Ethereum blockchain, with users bidding using cryptocurrency Ether (ETH). At the time of publication, the leading wager on Greene's NFT is 7.00 ETH, which holds a value of about $11,894.68 USD.
An NFT is a unique cryptocurrency token that can be used to verify authenticity and ownership within a blockchain network.
Recent years have seen crypto-native and traditional artists across mediums enter the NFT-based art market as it surges alongside cryptocurrency markets. Last week, a piece of NFT art depicting Pop-Tart-bodied internet meme NyanCat was "remastered" and sold by its creator on Foundation for 300.00 ETH (about $590,000 USD).
Greene's longtime label home LuckyMe can also be found among the featured creators on Foundation's home page. Last week, the label sold a piece of NFT art that originally appeared on the labels of Hudson Mohawke's 2008 vinyl release Ooops! for 0.6899 ETH (about $1,174.18 USD), marking their "first bespoke offering...within this medium."
"I'm excited (and scared) of what possibilities and promises lie in this field, and for arts and culture in general," Greene wrote yesterday. "I have a lot of hopes and fears tied to it. much rather think and talk about what might happen than sitting around feeling dread."
Greene recently appeared on a new song from Cadence Weapon. Last year, he shared a deluxe edition of his 2019 album Dawn Chorus.
this NFT represents the AV clip - but also the publishing rights to the eventual song release, in perpetuity
— jg (@jacquesgreene) February 21, 2021
I got out of a long, pretty bad publishing deal with a big company last year - a big personal and professional victory!
didn't feel they brought much value to my work.
I'm excited (and scared) of what possibilities and promises lie in this field, and for arts and culture in general. I have a lot of hopes and fears tied to it.
— jg (@jacquesgreene) February 21, 2021
much rather think and talk about what might happen than sitting around feeling dread.
This platform is a promise. You can buy the copyright here. In purchase you will own the publishing to the song, but I reserve the right to approval. That's the promise.
— jg (@jacquesgreene) February 21, 2021
https://t.co/LLNr7BxPIm
— jg (@jacquesgreene) February 21, 2021
🥴😜🌀 pic.twitter.com/3SgLASeQKx