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how Muse’s album will revolutionize the music industry?

Muse’s album ‘Will of the People’ will be the first NFT to qualify for the UK charts. Since streaming in 2015, this is the first time a new format has been accepted. This could be a major turning point for the global music industry…

On August 26, 2022, the British rock band Muse will release their ninth album: Will of the People. This album will be marketed in NFT (non-fungible token) edition, and will therefore become the first NFT to enter the music charts in the United Kingdom and Australia.

This is the first time a new format has been added to the charts since music streaming in 2015. This release is therefore a turning point for the music industry.

The NFT Black T-Shirt

The album will be sold in NFT format through the Serenade platform, considered more environmentally friendly. In February 2022, this platform had sold the official NFTs of the BRIT awards for the sum of 10 pounds per unit.

According to Max Shand, founder of Serenade, Muse’s album will become the ” NFT black t-shirt ». It will make it possible to democratize this digital format, simplifying transactions.

Indeed, in Shand’s eyes, ” what a fan wants is something simple and understandable but which gives a feeling of closeness to an artist and a form of recognition from other fans “.

How to buy the Muse album in NFT?

Unlike many NFTs, it won’t be necessary to own a crypto wallet to purchase the album. After making the purchase on the Serenade website, a digital wallet is created automatically and the NFT is transferred there. However, it is also possible to use your own crypto wallet.

It has now been several months since the Official Charts Company of the United Kingdom (OCC) licensed albums as NFTs for the charts. However, Serenade is the first seller recognized as a verified digital merchant.

According to Martin Talbot, CEO of the OCC, “ there has been a lot of noise about NFTs as the future of music, the future of entertainment, the future of property. This is great that this is becoming a reality “.

He clarified that Muse’s album did not cause the OCC to update its eligibility rules. It is simply the first album to meet admission criteria.

In April 2022, the British indie rock band Amazon marketed a NFT limited to 100 copies offered with pre-orders of his album “ How Will I Know if Heaven Will Find Me? expected for September. However, this NFT was sold as an accompaniment and not as a stand-alone product.

A rock band focused on innovation

For several months, Serenade chatted with Muse’s record label, Warner Records, the publication of an album in NFT. This group emerged as an obvious choice as they worked with blockchain platform CryptoKitties in 2020 to create digital collectibles.

According to Sebastian Simone, Vice President of Audience and Strategy at Warner Records UK, “ the group has always been at the forefront of technological innovation in his creativity and his art “.

Muse’s NFT album will be released for £20 and limited to 1000 copies. Suffice to say that it will be an object of desire for fans around the world…

Purchasers will receive a downloadable version of the album in FLAC format in high resolution. Each NFT will be digitally signed by Muse members and each of the 1000 buyers will have their name permanently registered on an official list.

The future of the music industry?

Even though this NFT is the first album eligible for the charts, it is unlikely that this edition will have a heavy impact on sales of ” Will of the People given the low number of copies.

Nevertheless, Simone believes that there is ” definitely ways » to impact the charts thanks to NFT. He is pointing out that ” for Muse, it’s actually not essential since they already have tens of thousands of pre-orders. We anticipate a first place from the week of the release “.

Of course, like any NFT, it will be possible to resell it. note that 15% of the resale price will be donated to the groupWarner Music and Universal Music Publishing.

On the other hand, OCC confirms that the resales of the album will not be not considered new sales for the charts. Artists will therefore not be able to inflate their sales figures thanks to NFT traffic…

For the future, we can imagine additional bonuses and rewards added to the album over time. The NFT will be able to be enriched as clips accompany the album wherever the group gives concerts.

Either way, Simone says Warner is convinced that NFTs represent the future of the industry musical. He announces that other similar projects are already planned, and that Muse’s album will be “ the start of the door opening »

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