A never-heard-before recording of Whitney Houston has simply been offered as a non-fungible token (NFT) for $999,999 (roughly Rs. 7.62 crore) by the music-focussed market OneOf. The music was recorded when Houston was 17, however was by no means launched. The American singer and actor went on to turn out to be one of many best-selling recording artists of all time, with gross sales of over 200 million data worldwide. NFT platform OneOf introduced the sale on December 15, after first revealing in November 2021 that a number of Whitney Houston NFTs could be offered, with paintings by artist Diana Sinclair.
These NFTs have been occurring sale through the Miami Artwork Week, which began on December 1. A number of NFTs associated to Houston’s profession have been launched, which can be found to consumers relying on the tier that they’ve purchased in on the platform.
Gold and platinum tier customers have entry to uncommon, archival images of the singer. Diamond tier customers can receive paintings by Diana Sinclair based mostly on a few of Houston’s most well-known songs.
The gathering additionally consists of 1000’s of fixed-price NFTs, together with archival images from Houston’s youth and profession. Proceeds from the gross sales of the gathering will go to the non-profit Whitney E. Houston Basis.
OneOf calls itself an “eco-conscious NFT platform constructed particularly for the music vertical.” It has obtained help from celebrated producer Quincy Jones. The platform needs to record NFTs at inexpensive mounted costs, and it intends to have 1000’s of NFTs on its platform.
There was quite a lot of dialogue about how NFTs may rework the music business by rising the quantity of income that goes to artists. This appears to be the sentiment of the crypto group in response to the announcement of the Houston NFT sale. Certain sufficient, an rising variety of musicians and artists in different industries are strongly contemplating working with NFTs.
That stated, NFTs have obtained criticism for typically being pointless, however gross sales just like the one made for the Houston recording exhibits that there is quite a lot of potential. The record of artists which have introduced NFT releases or have already launched NFTs grows by the week.
Eminem, Grimes, Snoop Dogg, The Weeknd — are solely a handful of musicians who’ve launched NFTs in latest instances. In lots of instances, the proceeds from the gross sales of NFTs linked to artists go to good causes, just like the Freddie Mercury-inspired NFTs that had been launched to learn an AIDS analysis charity.