Montreux Media Ventures will release an NFT collection celebrating the 2022 Montreux Jazz Festival on the platform OneOf. Anyone could purchase one of these highly-stylized digital collectibles on April 21st. Plus, people who sign up for OneOf before July 16th will get a separate, free 2022 Montreux Jazz Festival NFT.
According to Montreux Media Ventures, pop artist Greg Guillemin designed the five NFTs available for purchase. While Guillemin’s NFTs depict different celebrities appearing at the 2022 Montreux Jazz Festival, they also highlight the festival’s historic poster designs.
There will be 500 editions of each NFT in Guillemin’s collection, and they will sell for $20 per token. Anyone with a OneOf account could buy one of these NFTs with a credit card or crypto. Montreux Media Ventures says minting will begin at 9 PM CET on April 21st.
However, even if collectors can’t get one of Guillemin’s NFTs, they could get a free 2022 Montreux Jazz Festival NFT for registering on OneOf. From now till the festival ends on July 16th, new OneOf users will get an NFT designed by the French artist Camille Walala.
In the future, Montreux Media Ventures says it’s looking into creating more music-themed NFT collections. These new NFTs may include photos, videos, and ads from previous festivals. Organizers for the Swiss jazz festival also expressed interest in using NFTs to help artists better monetize their work and give event attendees more VIP opportunities.
This year’s Montreux Jazz Festival will start on July 1st and run through July 16th. A few headline performers at this year’s festival include John Legend, Van Morrison, and Diana Ross.
NFTs may Help Musicians Monetize Their Work
As mentioned above, the Montreux Jazz Festival is interested in using NFT technology to help musicians create new revenue streams. Many others in the music industry also believe the royalties attached to NFTs could help artists make more for their work. Some artists have even begun experimenting with NFT tickets and VIP passes to generate more income and connect with fans.
In 2021, the Kings of Leon made history when it released its album When You See Yourself as an NFT. According to Rolling Stone, this was the first time a professional recording artist offered their work in an NFT format. Since then, the rapper Snoop Dogg released his B.O.D.R album as an NFT on Gala Games. The Doggfather now plans to convert Death Row Records to an NFT-only studio.
Rarity Sniper also reported on the new Token||Traxx NFT platform, which uses innovations like NFTs and cryptocurrency to help emerging artists find an audience. Many of the developers behind Token||Traxx have years of experience managing artists like Adele and Beyoncé.
Since NFTs are so new, it’s debatable whether this technology will revolutionize how recording artists get paid. However, it’s clear more prominent musicians, producers, and studios are interested in using Web3 technologies.