Pricey NFTs From The Weeknd, Eminem And Others Won’t Boost A Bursting Bubble, But Cheaper Ones Might

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The music NFT party has quieted way down since the fireworks of March, when EDM star 3LAU hauled a record-breaking $11.7 million. NFT drops from Eminem, the Weeknd, and Steve Aoki have failed to raise the volume despite screamingly high asking prices.

, who goes by the nickname MetaKovan. In a recent Clubhouse talk, he seemed less interested in stockpiling status than in stumping for NFTs for everyone. “It’s very important that people understand from outside that NFTs are not just a game you play only if you have money. Being part of a community is all it takes to get started. And that’s very powerful.” His message seems to be that NFTs should be a volume business, something for the masses, not just for the super-rich.

“NFTs will be more egalitarian,” adds Joe Conyers, global head of NFTs at Crypto.com, and former chief strategy officer at Downtown Music. “It’s less aristocratic and cliquey than the traditional art collecting world. With NFTs anyone can collect these things for better or for worse.”an NFT of a song that he says he’ll never release to the public, he may have missed the point.

One such fan, a Reddit poster nicknamed Danila Doly, speculated that it was a throw-away track anyway, saying, it’s “probably a demo that was supposed to be on Maybe he tired of people leaking his music and decided to sell one by himself haha.”One thing’s certain: the eye-popping hammer prices are advertisements targeted to those who may not have heard of NFTs and don’t know much about cryptocurrencies.

Seen as a publicity play, the Beeple and 3LAU purchases may be a good buy. This year’s Super Bowl ads sold for

 

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