How NFTS Are Forging a New Creative Economy for Musicians.For this pilot launch, sales data will register on music charts in the U.K. According to Serenade’s press release, “one average 12 vinyl has the equivalent carbon footprint of 197,100 Digital Pressings.” Looking at it another way, the press release shares “the low carbon footprint equivalent to 1/10th of a Tweet (44,000x more efficient than a standard NFT release).”Įach Digital Pressing of Will of the People - and all subsequent albums released under this format - will count toward one physical album sale on the charts. Digital Pressings will also “accrue accurate, perpetual royalties for artists, copyright holders, and content owners,” according to the press release.Īside from touting a two-week lead time (compared to the six to nine months required for a vinyl release) Digital Pressings could also be far more environmentally friendly. Further, because they live on the blockchain, these collectibles offer verifiable ownership and can be traded on secondary markets. Digital Pressings can provide musicians opportunities to package their work similarly to how they would via a traditional vinyl release with none of the downsides.
Shand spoke further on his vision for the Digital Pressing format in a Twitter thread, highlighting it as a means to further democratize the concept of the album release cycle for musicians across the globe. I thought I’d share what a Digital Pressing is, and our vision for its future 🧵- Max Shand 🌳,🌴 August 1, 2022 and Australian charts.ġ/ Today we announced Serenade’s newest offering, the Digital Pressing. charts yet, it will have a chance to rank on the U.K. While the album isn’t eligible for the U.S. On August 26, English rock band Muse made history by becoming the first artist to offer an album under this new format with the release of Will of the People. Each Digital Pressing includes the audio and album artwork, a limited press run in set edition sizes, chart-eligible bonus material, on-chain royalties, and a collector’s module, according to Serenade’s website. partnered to launch a new, Web3-friendly music format using NFT technology - the Digital Pressing. In early August 2022, NFT marketplace Serenade and Warner records U.K. But for the first time since 2015, a new chart-eligible album format has arrived. The music industry has undergone seismic shifts in the past 20 years, but it lives on today as a largely digital industry, with streams being the top revenue driver. It turns out, Napster and Limewire were just the beginning. English rock band Muse released their latest album, Will of the People, under this new format on August 26, 2022.Digital Pressings are all-in-one music NFT packages akin to a physical record.to launch a new chart-eligible music format, Digital Pressings. Music NFT marketplace Serenade partnered with Warner Records U.K.
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