NFT: Coinbase CEO Is Set To Launch Electronic Music Non-fungible Tokens

Coinbase CEO Is Set To Launch Collection Of Electronic Music Non-fungible Tokens

The NFT realm is blessed with the embrace of institutions and high-profile celebrities alike which has helped the sector to steal the spotlight this bull season. In the latest development. Brian Armstrong, the CEO of the soon-to-be public crypto exchange Coinbase, is all set to release a collection of electronic music non-fungible tokens or NFTs that he created with DJ David Khanjian over the next few days.

According to his latest Twitter thread, Armstrong revealed that creating the songs as a “fun way” to learn digital audio workstation, Ableton Live. He went on to add,

“I listened to a lot of electronic music with no vocals as I was coding up the early versions of Coinbase, and always enjoyed David’s music. (no vocals because I couldn’t concentrate with other words in my head). Last year during COVID I decided I wanted to learn a little bit of electronic music composition as a hobby, and David was kind enough to take me under his wing and give me some free music lessons.”

The Coinbase exec also noted that all proceeds from the sale of the NFTs will be directed to David Khanjian. The three songs created by the CEO and the DJ will be released over the coming days as NFTs on Zora, the platform behind an Ethereum-based marketplace for tokenized product drops.

NFTs are surely having the moment

The latest development comes a little less than a week after two employees of the crypto exchange reportedly exchanged vows on the Ethereum blockchain. Peter Kacherginsky and Rebecca Rose, exchanged NFT rings with their wedding vows.

More Recently, American lifestyle brand Playboy announced teaming up with Winklevoss-owned NFT marketplace Nifty Gateway, to launch digital collectibles in the form of non-fungible tokens.

The space of non-fungible tokens have seek massive inflow of capital over the past few months. According to Dapp Radar’s February 2021 Industry Report, the sector has reached all-time high sales with the top three NFT marketplaces registering a combined trading volume of $342 million in February alone.

Source link