Kobalt to launch NFT collection, becoming ‘first global music publisher to release a set of fully licensed direct-to-fan NFTs’

Kobalt is expanding into the NFT business, revealing plans to release a ‘NFT lyric music’ collection called An Electro Revival.

In doing so, Kobalt said it would become “the first global music publisher to release a fully licensed direct-to-fans collection”.

In a media statement, Derek Cournoyer, Vice President of Kobalt, Global Digital Partnerships, said that “after licensing multiple NFTs for different projects”, the company now wants to “go deeper into the industry.” this emerging market and experiment with our customers.”

The NFT market has attracted interest from various well-known companies in the global music industry over the past 24 months, including the three major record companies.

Universal Music Groupfor example, was improve NFT project through label Web3 10:22 PM and metaverse band KINGSHIP, while Sony Music Entertainment yes invested in space through the NFT MakersPlace platform.

Warner Music Groupmeanwhile, has also been active in the market, impressing with partnerships with digital enthusiasts collectible background Blockparty and avatar technology company, Genies.

Kobalt is releasing an NFT collection in collaboration with Ghanaian visual artist, Afroscope (Nana Opoku).

The artist has previously worked with companies like Adobe Inc., Chance the Rapper, MTV Base, and what Kobalt calls “several other prominent creative entities.”

Kobalt says the digital artwork is inspired by and includes lyrics from the song Le Petit Morte (a guy) by singer-songwriter Dawn Richard.

The company says that “the art blends Afroscope’s past work on the future expression of African culture and fashion with Richard’s portrayal of a powerful black female superhero who is symbolic of its owners. lyrical theme of the song”.

According to Kobalt’s Derek Cournoyer, these digital collections “are among the first NFTs of their kind – inspired by and featuring lyrics from a published song”.

Looking to the future, Dan Smith, Senior Director, Product, Kobalt noted that the partnership will help the company “further explore and expand potential Web3 opportunities with our customers.” .

Kobalt says that the digital collection containing three individual NFTs will be offered at reserve auctions on Foundation platform.

The starting price will be set at 1 ETH (approximately $1,845 at current exchange rate) on August 25, 2022. Once the reserve price is met, a 24-hour countdown will begin.

“After licensing multiple NFTs for different projects, we wanted to dive deeper into this emerging market and experiment with our customers.”

Derek Cournoyer, Kobalt

Derek Cournoyer, VP, Global Digital Partnerships, Kobalt, said: “After licensing multiple NFTs for different projects, we wanted to dive deeper into this emerging market and experiment with our clients. .

“Afroscope is a world-class visual artist who has made a name for herself in the NFT community, and in addition to being an outstanding musician and recording artist, Dawn Richard has a long history. long in creating creative visual content.

“This is one of the first NFTs of its kind – inspired by and featuring lyrics from a published song – but most importantly, they are powerful, captivating works of art. “

“Kobalt is always looking for opportunities to explore and embrace new technologies, especially where they can benefit our customers.”

Dan Smith, Kobalt

Dan Smith, Senior Director, Product, Kobalt, said: “Kobalt is always looking for opportunities to explore and embrace new technologies, especially where they can benefit our customers. we.

“Creative expression is a step into the unknown and we believe there is great interest in reflecting this expression in our technology.

“This partnership has been rewarding in so many ways and provides an amazing learning experience that will help us further explore and expand potential Web3 opportunities with our customers.”

Dawn Richard said: “This opportunity is similar to how Kobalt helped me organize meetups with like-minded artists and musicians, but this time they helped connect me with a visual artist because they know my passion here.

“I believe artists will be able to create their own ecosystem through spaces like NFT and Metaverse. I chose Afroscope because I feel his work resonates with my music.

“Together, we are both promoting the essence of culture and the power of black excellence through our art.”

Afroscope said: “Dawn and I have a strong mutual respect for each other’s work, and there is a synergy between some of our recent, personal image explorations.

“This NFT is special for a number of reasons. Firstly, it is based on truly moving lyrics by an incredibly talented and inspiring artist. Plus, it brought together creators from different sides of the globe, demonstrating the power of connection and community in Web3.”Worldwide music business