Fans and Funds: Why Nfts Sound Sweet to These Musicians
Fortune US|April - May 2023
The NFT market has cooled off from its manic highs of early 2022. But Justin "3LAU" Blau and Steve Aoki believe that the blockchainbased tokens can help artists of all kinds build enduring relationships with their fansand turn music lovers into music investors.
By Jeff John Roberts
Fans and Funds: Why Nfts Sound Sweet to These Musicians

Steve Aoki is riding to New York City in a Sprinter-van tour bus when the Zoom call comes in. The iconic DJ fumbles with his iPhone, brushes back his sweeping black hair, and greets his younger friend and collaborator Justin Blau, a.k.a. 3LAU. The pair are eager to talk about a technology they say will transform the business model of music and redefine the relationship between artists and their fans. "The only opportunity for fans used to be merch," says Blau, becoming animated as he makes his case. The next opportunity, he says, is what he and Aoki are sure is the hot new thing for music: NFTs, or non-fungible tokens.

The term describes unique items inscribed on a blockchain-most commonly pieces of art, but also other digital artifacts like songs that can include rights of ownership to those items. In 2021, NFTs became part of the cultural zeitgeist as celebrities plunked down millions to collect digital primates known as Bored Apes, and the artist Beeple sold an NFT piece at auction for an eye-popping $69 million.

Denne historien er fra April - May 2023-utgaven av Fortune US.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra April - May 2023-utgaven av Fortune US.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA FORTUNE USSe alt
KKR'S $1 TRILLION GAMBLE
Fortune US

KKR'S $1 TRILLION GAMBLE

The co-CEOs of KKR have a radical strategy to supercharge growth - and chart a path far different from that of their mentors, Henry Kravis and George Roberts.

time-read
10+ mins  |
October - November 2024
THE SHIPWRECKED LEGACY OF MIKE LYNCH
Fortune US

THE SHIPWRECKED LEGACY OF MIKE LYNCH

THE BRITISH TECH MOGUL SOLD HIS COMPANY FOR $11 BILLION, THEN SPENT YEARS FIGHTING FRAUD CHARGES. HIS SHOCKING DEATH HAS LEFT MANY UNANSWERED QUESTIONS ABOUT HIS LIFE.

time-read
10+ mins  |
October - November 2024
FORTUNE - CHANGE THE WORLD
Fortune US

FORTUNE - CHANGE THE WORLD

THESE COMPANIES BUILD BUSINESSES AROUND SOLVING SOCIAL PROBLEMS AND THEY DO WELL BY DOING GOOD.

time-read
4 mins  |
October - November 2024
Can Cathy Engelbert Handle the Pressure?
Fortune US

Can Cathy Engelbert Handle the Pressure?

The WNBA commissioner and ex-Deloitte CEO is leading the league through a season of historic highs, but critics wonder if her game plan is good enough to seize the moment.

time-read
10+ mins  |
October - November 2024
Kamalanomics: Harris's Road Map for Business
Fortune US

Kamalanomics: Harris's Road Map for Business

Vice President Kamala Harris hasn't done much to woo Big Business. Many executives would still rather take their chances with her than the alternative.

time-read
8 mins  |
October - November 2024
Mary Barra
Fortune US

Mary Barra

The CEO of General Motors accelerates into our top spot.

time-read
10+ mins  |
October - November 2024
MPW - MOST POWERFUL WOMEN 2024
Fortune US

MPW - MOST POWERFUL WOMEN 2024

WHEN FORTUNE launched its Most Powerful Women list in 1998, women were just starting to trickle into the C-suite in significant numbers.

time-read
5 mins  |
October - November 2024
WHO HAS TIME FOR A POWER LUNCH? THE REAL BUSINESS HAPPENS AT 4 P.M. 'POWER HOUR.'
Fortune US

WHO HAS TIME FOR A POWER LUNCH? THE REAL BUSINESS HAPPENS AT 4 P.M. 'POWER HOUR.'

THE SUN is pouring in through the floor-to-ceiling windows when the bar begins to fill with bespoke suits on a Tuesday in August at Four Twenty Five. The new restaurant from Jean-Georges Vongerichten is on the first floor of a Midtown Manhattan skyscraper, beneath the offices of financial giant Citadel Securities. And the traders are thirsty.

time-read
4 mins  |
October - November 2024
HOW TO TAKE ADVANTAGE OF THE FED'S BIG RATE CUT
Fortune US

HOW TO TAKE ADVANTAGE OF THE FED'S BIG RATE CUT

THE WAIT IS OVER. After more than a year of will-they-or-won't-they, the Federal Reserve on Sept. 18 announced the first cut to its benchmark Federal funds rate since the early days of the COVID-19 pandemic, a 50-basis-point drop that Chairman Jerome Powell signaled is likely the first of many.

time-read
4 mins  |
October - November 2024
FOR GEN Z AT WORK, THE GENERATION GAP IS A WELLNESS GAP. HERE'S HOW TO BRIDGE IT
Fortune US

FOR GEN Z AT WORK, THE GENERATION GAP IS A WELLNESS GAP. HERE'S HOW TO BRIDGE IT

FOR ONE nonprofit executive director, it was a 2022 New York City subway shooting that highlighted the stark differences between how he, a 55-year-old, and his Gen Z staffers show up to work.

time-read
4 mins  |
October - November 2024