According to Snoop Dogg, death Row Records is set to become the first NFT music label.
The rapper from Los Angeles claims that he wants the label to be “the first major [record label] in the metaverse.”
According to statements made by Snoop Dogg on the social networking platform Clubhouse on February 15, the rapper could be turning Death Row Records into a non-fungible token (NFT) label.
Snoop Dogg claimed, “Death Row will be an NFT label. We will be putting out musicians through the metaverse and a whole ‘nother chain of music.” “Just like when we broke the industry when we were the first independent [record label] to be major, I want to be the first major in the metaverse,” quoted Snoop Dogg.
Snoop Dogg bought the label on February 10, days before his Super Bowl halftime show, which featured Dr. Dre, Mary J. Blige, Kendrick Lamar, and Eminem.
Snoop Dogg knows his way around the NFT scene. Under the name, Cozomo de’ Medici claimed to have launched a personal NFT collection valued at more than $17 million in September, but this claim has never been validated.
On February 9, the rapper published an NFT collection with Gala Games to coincide with his latest album, “Bacc on Death Row.” The “Stash Box” NFTs have already sold over $50 million, with each holder receiving an NFT of a song from the album.
Blockchain meets Artist
This is not the first time an artist has invested in crypto. It seems to be an ongoing trend. Blockchain technology enables direct fan-to-artist relationships and can return authority to the artists.
If you’re a prominent artist signed to a big label, you can expect the company to have a lot of say over your music, production, tours, releases, and other aspects of your career. Because he recently shifted from a major label to an independent artist, R&B legend Mario knows this better than anyone.
Mario joins Spencer Dinwiddie and Solo Ceesay of “New Money” to unveil the inner workings of the music industry, including the secrets of streaming, music rights, and the issues that arise with the centralization of music.
Mario envisions a future in which a record company or social media platform can no longer limit or control artists’ income. Artists may be able to benefit from blockchain technology. The question is how soon artists can look forward to this future.
Sound ON and pants OFF! Ooh wee, put them in the air! https://t.co/imvlhFoZQC— ɐʇɐɹ🏴☠️ (@rata_yonqui) March 20, 2022