From June through Friday, some 29,800 NFTs involving musicians have generated $42.5 million in primary sales, with an average per-unit transaction value of $1,427, according to a database compiled by music-technology researcher Cherie Hu. So far, most buyers are crypto-savvy speculators helping send prices soaring. The music business is hoping the market will develop for real fan participation—at fan-accessible valuations.
Source: Musicians Turn to NFTs to Make Up for Lost Revenue
