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Home»NFT»Celo Foundation and Celosphere launch new music NFT collection
NFT

Celo Foundation and Celosphere launch new music NFT collection

2024-08-26No Comments2 Mins Read
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Celia Inside has launched a new music NFT collection on Celosphere, marking a significant moment for the platform.

The launch and collection includes 1,000 NFTs, each priced at 3 CELO (CELO), with 500 featuring the original song and 500 featuring a remix.

These NFTs are among the first music NFTs available on Celosphere, making this launch notable in the platform’s history.

Music NFTs, digital tokens that represent ownership of a specific song or album, are gaining popularity in the web3 space. They offer artists new ways to connect with fans and monetize their work directly.

These NFTs can represent anything from a single track to an entire album, offering exclusive ownership or access rights to the buyer.

This release comes as the NFT market experienced a 23.4% increase in sales between August 19 and 24, reaching total sales of just under $100 million. The uptick in activity was accompanied by a nearly 43% increase in the number of NFT buyers, to a total of 468,822, and a 41% increase in the number of sellers, to 223,433.

NFT traders are showing a growing interest in blue-chip collections and emerging projects.

You might also like: Tokenizing the Music Industry with Music NFTs | Opinion

Details of the NFT drop

The drop, titled ‘iridescent wave: remix party’, features two versions of the song ‘Show You How’. The original song, an upbeat dance song, is combined with a remix by Venezuelan-American drag artist Saltï, who won a remix competition during Pride Month in June.

Celia Inside is a web3 artist-producer active since 2021 and was selected by Boys Club as a finalist for the Celo Creators Fund. Her blog, ‘iridescent wave’, highlights women and QPOC artists in the web3 scene.

See also  Linda Dounia's IN/Visible NFT Exhibit Highlights Black Artists, AI's 'Skewed' Lens

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Celo Celosphere Collection Foundation Launch Music NFT
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