Florida Songwriters Association and Digital 1 Media Services, Inc. is expanding into the NFT business, revealing plans to release ‘music NFT’s’ direct – to fans NFT’s.
Digital 1 Media Services, Inc. announces dba Digital 1 NFT to release a set of fully licensed direct-to-fan NFTs”.
In a media statement, Steve Lane, Digital 1’s CEO, said that “we are excited to work with CGVT to define an optimal go-to-market strategy for the Sales and Marketing of Musical NFT’s to dive deeper into this emerging market and experiment alongside our clients.” The collaboration will help the company “further explore and scale potential Web3 opportunities with our clients”.
The collaboration was brokered by Eola Arts Incubator, a research lab focused on developing art in the web3 space. Ayenda Kemp, Eola Arts Incubator President, said that “we are excited to collaborate with the Florida Songwriters Association and the Virginia Tech Consulting Group to build out early monetization models for music NFTs. This project helps us to understand the emerging possibilities for monetizing art in a web3 world”.
Nowhere is the uptake of NFTs more apparent than in the music industry. Non-fungible tokens are increasingly being adopted by record labels, mainstream acts, and indie artists alike.
The NFT market has attracted interest from various prominent players in the global music industry over the past 24 months, including two major record companies Universal Music Group, has been working on NFT projects via its Web3 label and metaverse band KINGSHIP, while Sony Music Entertainment has invested in the space via the likes of NFT platform MakersPlace.
Digital 1 says that the digital collection will contain exclusive individual NFTs, which will be offered to fans via the Drop Station platform.
“This collaboration has been rewarding on so many fronts and provides a great learning experience that will help us further explore and scale potential Web3 opportunities with our clients.”
FLORIDA SONGWRITERS ASSOCIATION
Florida Songwriters Association, Inc. 501 (c) (3) Non–For–Profit is dedicated to motivating and educating both aspiring and professional songwriters throughout the State of Florida and beyond. Our team consists of talented songwriters from every genre of music and range from novice amateurs to established professionals in the industry. Together, we work with writers who are committed to protecting the rights and the future of the songwriting profession. Members have access to one-on-one mentoring sessions with industry professionals, free sync licensing pitches and publishing opportunities, free song evaluations, and exclusive access to educational materials focused on the songwriting industry.
DIGITAL 1 MEDIA SERVICES
Digital 1 Media Services, Inc. (D1MS) has become a proudly successful, independent record company and home entertainment music company. We offer a suite of services from online music distribution, music publishing and video production. These services were created to help labels, artists and songwriters to reach their music goals and future their careers.
The CONSULTING GROUP AT VIRGINIA TECH
The Consulting Group at Virginia Tech was founded in 2010 to make Virginia Tech a world leader in molding consulting and business talent. Our mission is to embody Ut Prosim, “that I may serve,” through nonprofit consulting and, in doing so, prepare our members to land jobs and excel at top companies upon graduation.
EOLA ARTS INCUBATOR
Eola Arts Incubator is a research lab at the intersection of business, art, and technology. We focus on bringing together organizational partners to experiment with the new monetization opportunities that web3 technologies offer.