Talking about non-fungible tokens (NFTs) in the music industry usually means protecting artists’ copyrights and diversifying their revenue streams, preserving artwork on the blockchain, musicians collaborating with brands and artists, printing event tickets, award exclusive bonuses to fans in this unique digital format. or engage with a community. So why not do what the sports industry has done (and quite successfully) with the NFT souvenir format?
The sports memorabilia market reached $2.6 billion in 2022 and is expected to reach $227.2 billion in 10 years. Collectibles include sports cards, video clips of popular moments in sports history, autographs, accessories and much more that can be in both physical and digital formats. The same can be said for music memorabilia with rare old photos that already exist, sometimes only in unknown files that are difficult to access.
Unique moments in classic rock history
This was the case with Legends of Rock, which was acquired by Globe Entertainment and Media in 2020. The collection, which had been owned by British photo agencies and archives for decades, was shipped to Las Vegas. Packed in standard postal containers, it seemed unlikely to contain anything of great value or importance.
It came as a complete surprise to Klaus Moeller, CEO of Globe Entertainment and Media, to find some 8 million never-before-seen vintage photos of the biggest rock stars: Queen, Deep Purple, Elvis Presley, The Beatles, Frank Zappa, The Police, Bruce Springsteen, Nirvana, The Who and many more. The photos were taken on stage and during other official moments, but also backstage in a more relaxed environment. The photos were taken between the 1960s and early 1980s, with some artists already in the spotlight and others just beginning their prolific careers. “It is endless. Every day we find the craziest stuff,” Moeller said of the file.
To make the collection accessible worldwide, Globe Entertainment and Media partnered with MADworld, an innovative Web3 and digital asset ecosystem backed by Animoca Brands.
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“We couldn’t have found a better partner than MADworld to introduce these unique and seminal moments in music history to a new generation of fans. This collaboration is helping us breathe new life into these legends of music’s past by incorporating them into Web3.”
Along with the physical slides, a professional-quality, high-resolution digital image of the original slides is provided to the buyer as an NFT Digital Certificate of Authenticity (COA). This helps prove ownership and ensures authenticity. In addition, in the event of a future secondary sale, it allows the buyer to transfer ownership comfortably and safely.