Brian Armstrong has announced he will be releasing a collection of electronic music created in collaboration with DJ DAVI. He further confirmed that this will be released as NFTs, his announcement comes as the industry continues to capture major attention.
Coinbase CEO Brian Armstrong on Wednesday announced the release of a collection of electronic music NFTs. With little knowledge about music production, he further confirmed that he collaborated with DJ DAVI for this release. These songs are set to be sold on Zora. co, a Coinbase Ventures portfolio company. Proceeds from their sales will go to DJ DAVI.
Speaking to his motivation, the American entrepreneur stated that he listened to a lot of electronic music when he began coding the first versions of Coinbase. Last year, as the pandemic hit the world, Armstrong looked to learn electronic music composition. DJ DAVI (David Khanjian) offered him lessons. The new music was created while learning.
“I listened to a lot of electronic music with no vocals as I was coding up the early versions of Coinbase, and always enjoyed David’s music. (no vocals because I couldn’t concentrate with other words in my head)”
As the music helped him when he was coding early on, Coinbase CEO noted that one of the songs has a theme of building technology stuff without giving up. Armstrong further cleared that a lot of work related to NFTs was done by DJ DAVI which explains his decision to give all proceeds to the artist.
4/ We created these songs over the past year as a fun way for me to learn Ableton Live etc. To be clear – 99% of the talent comes from him, but it was fun for me to work on them none the less.
— Brian Armstrong (@brian_armstrong) April 7, 2021
In the last few months, NFTs have grown and seen hundreds of millions transacted. Especially NFTs from high profile individuals, the bidding war has turned aggressively. Just a few months ago, Jack Dorsey‘s first tweet was sold for nearly $3 million which the Twitter CEO donated to charity.
Coinbase Q1 Earnings Swell
Brian Armstrong’s announcement comes when his company Coinbase is abuzz. In just a few days, the exchange is set to be listed on Nasdaq with ticker COIN. Ahead of this, the company has released its first-quarter preliminary results. This revealed a nearly nine-fold growth from the same time last year.
It has stated it expects revenue to hit about $1.8 billion. It only managed $190.6 million in the same time last year. Net income is set to reach approximately $730 million to $800 million. It further confirmed that it now has 56 million verified users on its platform.
As we reported, the exchange on Tuesday joined hands with Square and Fidelity to launch a crypto council for innovation.
next