According to Mike Darlington, the CEO of Monstercat, an electronic music platform, and Jake Udell, the founder of social NFT platform Metalink, bear markets are a time to ideate and build new products. During this week's episode of, a bi-weekly Twitter Space hosted by Cointelegraph analysts, both Darlington and Udell agreed that the future will be bright for crypto and especially for music NFTs.
According to Darlington, music NFTs haven’t necessarily had made it as a “trend” yet, but he is hoping that they cement their space in the next bull cycle. Comparatively, profile pictures NFTs are a “monster of their own,” but music NFTs can see similar success to that of photography or art NFTs.
While it's uncertain how sustainable the new landscape will be for artists, the one “resounding truth” and commonality is that creators are not “content with the current model,” there is a willingness to be open to change the status quo but this depends on the “format and the shape that music NFTs will arrive in,” explains Darlington.
According to Udell, the amount of attention the NFT space received in the last year alone led the way for a “cult like phenomenon.” Groups are brought together by the common thread of Web3 and while Udell does not believe that “Web3 is necessarily a genre,“ it is another avenue for artists to tap into and successfully grow their audience.
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That's as old as 2017, nowhere near 'next evolution'...
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