Montreux Media Ventures will release an NFT collection in honor of the Montreux Jazz Festival in 2022 on the OneOf platform. Anyone could buy one of these highly stylized digital collectibles on April 21. Additionally, people who sign up for OneOf before July 16 will receive a separate, free 2022 Montreux Jazz Festival NFT.
According to Montreux Media Ventures, pop artist Greg Guillemin designed the five NFTs for sale. While Guillemin’s NFTs feature various celebrities appearing at the 2022 Montreux Jazz Festival, they also highlight the festival’s historic poster designs.
There will be 500 editions of each NFT in Guillemin’s collection, and they will be sold for $20 per token. Anyone with a OneOf account could purchase one of these NFTs using a credit card or crypto. Montreux Media Ventures says the minting will begin on April 21 at 9 p.m. CET.
But even if collectors can’t get any of Guillemin’s NFTs, they can get a free 2022 Montreux Jazz Festival NFT for registration on OneOf. From now until the festival ends on July 16, new OneOf users will get an NFT designed by French artist Camille Walala.
Going forward, Montreux Media Ventures says it is considering creating more music-themed NFT collections. These new NFTs may contain photos, videos and advertisements from previous festivals. Organizers of the Swiss Jazz Festival also expressed an interest in using NFTs to help artists monetize their work and give event attendees more VIP opportunities.
This year’s Montreux Jazz Festival kicks off on July 1 and runs through July 16. Some of the headliners at this year’s festival are John Legend, Van Morrison and Diana Ross.
NFTs can help musicians monetize their work
As mentioned above, the Montreux Jazz Festival is interested in using NFT technology to help musicians create new revenue streams. Many others in the music industry also believe that the royalties associated with NFTs can help artists earn more for their work. Some artists have even started experimenting with NFT tickets and VIP passes to generate more revenue and connect with fans.
In 2021, the Kings of Leon made history when they released their album when you see yourself as an NFT. According to rolling stone, this was the first time a professional artist offered his work in NFT format. Since then, the rapper Snoop Dogg has released his BODR album as NFT at Gala Games. The Doggfather now plans to turn Death Row Records into an NFT-only studio.
Rarity Sniper also reported on the new Token||Traxx NFT platform, which uses innovations such as NFTs and cryptocurrency to help emerging artists find audiences. Many of the developers behind Token||Traxx have years of experience managing artists like Adele and Beyoncé.
Since NFTs are so new, the question is whether this technology will revolutionize the way recording artists are paid. However, it is clear that more prominent musicians, producers and studios are interested in using Web3 technologies.