Portugal. Man slam their foot against streaming and release new single exclusively on a crypto platform – Criptoativos
Canadian producer Deadmau5 and American band “Portugal.The Man” will release an NFT – a non-fungible “token” – of a “single”.
The launch takes place at the start of Art Week in Miami, USA. The artists teamed up to release the new single, titled “This Is Fine” (“This is good”, in Portuguese).
The song will be released exclusively on the “blockchain” technology of the NEAR platform, a company that works in this sector and that this year, during an event in Lisbon, promised to invest in Europe and, in particular, in Portugal.
Thus, you will not be able to listen to this new “single” neither on Spotify nor on Apple Music, for example.
Each unit of this song will cost 0.25 NEAR “tokens” (approximately 1.94 euros, according to the price of the asset presented this Thursday, by Coin Market Cap). In all, one million virtual units of this song are available.
The band also intends to enter the metaverse industry, having promised rewards for those who acquire the first units of these NFTs, similarly to what happens with some “fan tokens”.
From among the million units of this song, 750,000 will be made available online during the Miami Art Week, which takes place these days.
“With the remaining 250,000 units sold as packs with their own benefits and bonuses, including a ‘Last’ pack of 50,000 units with bespoke artwork, and 200 packs of 1,000 units, each with its own artwork” , can be read in the communiqué issued by the band and the Canadian producer.
NFT: The Future and Savings of Artists
NFT is becoming more than a fad, a way to save money for artists, who increasingly complain about the high commissions charged by streaming platforms like Apple Music and Spotify.
The non-fungible “tokens” thus became a “lifeline for several musicians”, in such a way that in the usual Saxo Bank broadcasts, entitled “black swans”, because of their improbability, one institution predicts that musicians resort to this asset as a way of publicizing their works (so far a likely estimate to happen), a phenomenon that would be followed by the end of steaming platforms (here yes, a greater improbability).
Conan Osiris launched fashion in Portugal, but no luck
In Portugal, fashion was launched by Conan Osiris (the stage name of Tiago Miranda), the musician who gained prominence after winning the 2019 Festival da Canção.
In June, an NFT of the song “Cobras” was auctioned as a gesture of solidarity, with a bid from 500 units of Ethereum, which at the time was equivalent to one million euros, roughly, taking into account the quotations generated by the Currency. Market value.
The purpose of the auction was to help artists who were out of work during the pandemic period, but ended up not starting due to lack of proposals.