Jupiter Meta to launch music NFTs at a metaverse concert

Jupiter Meta, the Indian NFT marketplace, on Monday announced the launch of music NFTs. The digital collectibles will be released on April 14 as part of a metaverse concert with singer and composer Karthik performing solo.

Manasa Rajan, CEO of Jupiter Meta said, “The metaverse isn’t just a buzzword anymore and it has real implications and brings actual value to the way we interact with one another and with intangibles such as culture and the sense of community.”  

“Music NFTs will give users a specific value and sense of ownership that cannot be replicated, while the concert will bridge the physical divide between artist and fan in a sense and open the doors for more personalised and meaningful conversations outside our reality,” he added.

The tickets are fixed-price and are in limited quantities. The company intends to retain the purchased tickets as NFTs. Visitors will have the chance to experience digital wall art—the ‘Icons of Singara Chennai’ project, classic songs, and two new compositions of the brand that will be performed. The new tracks will be sent to ticket holders as music NFTs, and users are allowed to play the track for personal use only.

Singer Karthik expressed, “Doing something like this in the metaverse is beyond imagination! I’m really happy fans get to experience this special moment and own my new songs! It is going to be rocking.”

Music NFTs enable fans the opportunity to own something directly from their favourite artist. Some of international musicians including Steve Aoki, Shawn Mendes, Kings of Leon, rapper Lil Pump, Deadmau5, Ja Ruleand have launched and sold their NFTs. Indian music production houses including T-series and singers including Sonu Nigam, and Kaber Vasuki have launched their music NFTs.

In the year 2021, singer Ritviz and Nucleya collaborated for the album Baaraat and the duo launched a collection of NFTs, and WazirX NFT Marketplace introduced its auction feature, which was well-received by NFT fans, demonstrating the NFTs expanding potential.