Sony’ Soneium has partnered with Coop Records to create a new way for the artists to sell their music using the blockchain technology. The partnership will launch its first music NFT where unreleased tracks from Japanese producer NUU$HI will be made available.
This new way of selling music gives artists more control over their work and how it is sold. It also lets fans buy music directly from the artists they love.
About Sony’s Blockchain Platform Soneium
Soneium is Sony’s blockchain platform which was launched on January 14, 2025. Even though the platform has been launched recently, it has had over 14 million user accounts and around 47 million processed transactions.
About Coop Records
Coop Records is a Web3 company that helps artists release their music as NFTs. They believe that blockchain technology can help artists make more money, which is according to what they deserve and they even let the artists have more control over their work.
Challenges Ahead
Using blockchain technology is one of the most innovative way to release music but it does have its own challenges. The biggest challenges that the industry faces is getting more and more people to understand as to how this works on the blockchain and how do they use it.
Another challenge that has been identified is making sure that the artist can make a living from selling their music as NFTs. Since the entire concept is still new, the market is very unpredictable for the artists.
What’s Next?
Sony is dedicated to explore the full potential of the blockchain technology in the music industry as they plan to release more music NFTs in the future and they are ready to experiment and see what works best for them.
Overall, this new partnership will change the dynamics of the music industry in one way or the other as it has the potential to give artists what they deserve and create ways for fans to engage with their favorite artists.
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Source: https://www.cryptonewsz.com/soneium-coop-records-music-nfts/