By
Chimamanda U. Martha
April 26th, 2024
Snowcrash NFT platform appeared as a marketplace for intellectual property holders, brands, and artists who want to create myriad collections, including primary drops, limited editions, streaming rights, and digital goods.
The world will see more non-fungible tokens (NFTs) coming into the music industry with the Universal Music Group (AMS: UMG) and Sony Music Entertainment (SME) partnering with Snowcrash, a new Solana-based NFT platform.
Later this year, the first NFTs of Miles Davis, Bob Dylan, as well as emerging artist Varvara will be released on the Snowcrash platform. More projects will be announced in the upcoming months.
As the Snowcrash website states, the platform “empowers artists, cultural icons, content creators, influencers, celebrities and brands to access untapped creative and economic potential of NFTs by harnessing latent value in already-created properties and by designing new digital assets and virtual experiences.”
The aim of the partnership with UMG and SME is to bring together diverse segments of technology, the creative arts, and digital innovation.
Dennis Kooker, President at Global Digital Business, Sony Music Entertainment, said:
“Snowcrash is a promising new NFT marketplace with strong leadership connections to the music community, experienced technology vision and differentiated in-house creative capabilities. We are pleased to be partnering with them to identify and develop a range of opportunities for our recording artists with a focus on delivering accessible, user-friendly experiences for both creators and fans.”
By the way, this is not the first time that Bob Dylan is collaborating with Sony Music. In January this year, the musician sold the master rights of his entire catalog of recorded music to SME for $150 million. Back in 2020, Dylan also sold his songs’ publishing rights to Universal Music Publishing, the sum of the deal was about $400 million. Therefore, the latest Dylan’s NFT partnership with the companies is not a big surprise.
About Snowcrash
Snowcrash NFT platform appeared as a marketplace for intellectual property holders, brands, and artists who want to create myriad collections, including primary drops, limited editions, streaming rights, and digital goods. It promises the most efficient and eco-friendly experiences for buyers, sellers, and creators.
Snowcrash launched in November 2021. Among its founders are Milles Davis and Bob Dylan, as well as Wondros CEO Jesse Dylan, Sharecare executive Walter De Brouwer, and President of the Bob Dylan Music Company Jeff Rozen who has been in this position for over 30 years.
The name of the platform was inspired by the 1992 science fiction novel “Snow Crash” by the American author Neal Stephenson. Notably, the novel mentioned the term “metaverse” for the first time.
Running on the Solana blockchain, Snowcrash will compete with other Solana-based NFT marketplaces including MagicEden and Solanart.
