K Classic presented as NFT in New York… "A bigger stage has been opened for artists" > NFT_News KDCA(한국데이터공인인증원)

 The world's largest NFT event, 'NFT NYC', was held in New York, USA on the 22nd (local time). Attendees queue up an hour in advance to enter the session event at the New York Marriott Marquis Hotel. /New York = Reporter Choi Da-eun 

A special music presentation was held on the 22nd (local time) at the New York office of Rare Violin of New York, a global violin appraisal and sales company. The image of a luxury Stradivarius violin Corbett appeared on a large screen, and Bach's classic song 'Chaconne' rang out. This is the sound source played by violinist Stephen Kim. Recently, this sound source was issued as a non-fungible token (NFT) and attracted attention in the world classical music industry. 

NFTs drew attention in the early days of games and digital art, but now they are becoming a hot topic in the global entertainment industry. It is expected that NFT will change the structure of content distribution and the plate of 'fandom culture'.

Sejong Soloists, a Korean string ensemble, unveiled the ‘Stradivarius Violin Corbett Collection’, a sound source NFT, at ‘NFT NYC 2022’, the world’s largest NFT event held in New York, USA from the 21st. It is a composite NFT that contains a performance video and a violin performance sound source. You must collect all related NFTs to enjoy the entire song. Kang Kyung-won, music director of Sejong Soloists, said, “When I first heard the word NFT, I was not used to it and it seemed like an allergic reaction was occurring.”

“But now, I am convinced that NFTs will be a new opportunity for artists,” he said. 

Experts believe that selling music with NFT will increase the share of creators compared to the existing method. In the current streaming service-oriented music industry, money flows to record labels and a small number of popular artists. The NFT method eliminates the intermediate distribution stage and the creator sells the music directly to the consumer.

The popular American rock band ‘Kings of Leon’ also released a new album as NFT for the first time last year. Additional benefits such as lifetime front-row seating at concerts and the opportunity to attend live shows were included in the NFT. This NFT sold 2.2 million dollars (about 2.8 billion won) in two weeks.

Coachella, the largest music festival in the United States, sold lifetime tickets for the first time last February, drawing industry attention by applying NFT here. NFTs were sold in a way that provided different benefits, such as front view of the stage and provision of meals by professional chefs. An official from the blockchain industry explained, "NFT issuers also receive a fee whenever they are traded, so the creator's continued income is also an advantage." 

In the film sector, attempts to introduce NFTs are continuing, centering on Hollywood, USA. Actress-turned-film director Jennifer Esposito recently raised money for the production of her new movie, “Fresh Kills,” by selling NFTs. The film production startup ‘NFT Studio’ is also raising the entire cost of film production with NFT. It provides various rights such as movie tickets and copyrights to related NFT holders.

In Korea, K-pop companies are jumping into the NFT business. A typical example is Triple S, a female idol group from Mode House, a NFT content company that participated in the ‘NFT NYC’ event. Fans who own NFT products will decide the composition of members and activity schedule of Triple S.

The global sports industry also sees NFT as a new growth engine. At this ‘NFT NYC’, RealFever, a NFT manufacturer, introduced NFTs that contain the historic moments of an American National Football League (NFL) player. As ‘NBA Top Shot’, an NBA player NFT released by Dapper Labs, has become very popular, various sports NFTs are coming out. In Korea, on the 23rd, KT unveiled NFTs using five national sports players, including Lee Kang-in and Heo Hoon.

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