Recently, many celebrities have stepped into the NFT world. Lastly, the legendary singer Bob Dylan joined this trend. Bob Dylan got in on the action with an NFT project called Snowcrash. The project was created in partnership with Sony Music Entertainment and UMG.
Snowcrash, a startup focused on the Solana blockchain, has announced that Sony Music and Universal Music Group will become part of a platform that plans Bob Dylan and Miles Davis NFT auctions later this year. The music industry has taken great interest in NFTs as a way to monetize more from artists and content, with musicians putting out NFT-focused brands like Dolly Parton, Steve Aoki, Kings of Leon, and 3lau.
Snowcrash will compete against other Solana-based NFT markets such as Solanart and Solsea. OpenSea, the largest NFT marketplace, saw sales of around $3.6 billion last month, but currently only offers NFTs minted on the Ethereum and Polygon blockchains. (OpenSea may add Solana NFTs soon.)
Sony and Universal’s participation in Snowcrash is the latest example of big companies getting into the Web3. Warner Music Group has also recently announced a partnership with blockchain gaming company Splinterlands, citing its desire to bring its musicians into play-earn games. So what exactly will Snowcrash do? As their website states, “Snowcrash empowers artists, cultural icons, content creators, influencers, celebrities and brands to tap into the untapped creative and economic potential of NFTs by leveraging the hidden value in already created properties and designing new digital assets and virtual experiences.”
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