NFT project Monk Mafia is launching a new NFT platform that lets fans “directly invest in their favourite artists’ music”. While fans can invest in an artist's project via NFTs, they also can have the option of receiving royalties at any time from the music they helped to fund. Backers will also receive special “perks and offers” as an incentive and a thank you for their support.
The new platform, called Independent, is built on the Solana blockchain, which uses less energy than the Ethereum blockchain that many NFT projects operate on. That means that gas fees — the cost of transactions being registered on the blockchain — are much cheaper too.
Find out more about Independent on their website here.
If you don’t know about NFTs and want to learn more read our ‘What are NFTs and why should electronic music care?’ piece here.