Distrokid joins NFT with “Sellouts”

The world of the NFT continues to grow and all sorts of brands are adding to an ever-expanding market.

The metaverse is evolving so fast that as artists like BTS and Timbaland join the ambitious marketing NFT trend, what started as an ape cartoon NFT project is now in the making as a band.

Not only Opensea, platforms are currently raising more money than ever before. Recently, the Opulous platform announced that the founder of the Three Six Zero record label will be joining the company as a senior advisor. In other words, the marriage between the music industry and NFT’s seems to be inevitable.

The music distribution company Distrokid is currently collaborating with 10,000 independent musicians to mint 10,000 NFT  coleccionables 10,000 collectible and commemorative NFT’s for each artist. Distrokid is valued at $1.3 billion.

According to Distrokid, proceeds from sales of this collection will go directly to each artist.

The collection named”sellouts”consists of the Distrokid mascot customized by each participating artist from more than 300 different features, from hair, expression, glasses to clothing. In other words: Each NFT piece in this collection will be an avatar based on the combination of nearly 300 different features.

Regarding the shadow of controversy regarding the alleged environmental cost involved in NFT minting, Distrokid says it is developing innovative methods that will make the process 99% more environmentally friendly.

This is only the initial phase of Distrokid’s integration into the NFT market, they comment that any distrokid member musician can design their own NFT Sellout and join the waiting list to be part of the initial delivery. This service is free for musicians who will earn nearly 100% of the revenue from any sale or resale of their NFT, as Gateway and Distrokid keep a small processing fee for each sale.

This is only the initial phase of Distrokid’s integration into the NFT market, they comment that any distrokid member musician can design their own NFT Sellout and join the waiting list to be part of the initial delivery. This service is free for musicians who will earn nearly 100% of the revenue from any sale or resale of their NFT, as Gateway and Distrokid keep a small processing fee for each sale.

For this initial phase of integration between distrokid and the NFT world, there are already some musicians participating, such as ILOVEMAKONNEN, Ricky Desktop, Ryan Oakes, Tep No, Emilio Rojas, Janine and Our Last Night.

The release date for the 10,000 pieces of this collection will be December 15 via Nifty Gateway through a raffle.

According to Philip Kaplan, founder and CEO of Distrokid: “There are many ways in which blockchain and NFTs can be useful for musicians.” he mentions that Sellouts is just DIstrokid’s first step towards a larger collection of easy-to-use NFT and Blockchain services. ” Millions of artists rely on DistroKid’s innovation and creativity.”.