Merk Mercuriadis says the blockchain can bring a new level of transparency to music royalties.He believes, these more engaging experiences are"an important part of the future".
As streaming services such as Spotify and Apple Music gained mainstream popularity, Mercuriadis formed the Hipgnosis Songs Fund to acquire music rights. The fund, which went public in 2018, has invested $2.5 billion acquiring the publishing rights to 64 000 compositions from such hitmakers as Timbaland, Fleetwood Mac's Lindsey Buckingham, The Pretenders' Chrissie Hynde, Rick James and Neil Young.
NFTs also could provide a new type of collectible for music fans, such as music or videos, for the same price as a traditional tour book sold at concerts, Mercuriadis said. These more engaging experiences are"an important part of the future," Mercuriadis said. "Once the pandemic hit, it really proved the point that Merck made about those songs, as far as being a reliable asset," said Rodgers, a Grammy-winning singer, songwriter and record producer who advises Hipgnosis. The opportunity has attracted institutional investors, including Investec Wealth & Investment, Aviva Investors and the Church of England.
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