Updated: Dec 15, 2021
Manuela Agudelo Will Be the First southamerican and colombian artist to Release a single as an NFT.
The artist revolutionary token will unlock special perks like limited-edition vinyl and front row seats to future concerts.
His company owner is actually dropping three types of tokens as part of a series called “NFT with Be Fun,” is One type of special song package, while a second type offers live show perks like front-row seats for life, and a third type is just for exclusive audiovisual art. All three types of tokens offer art designed by the singer longtime creative partner Night After Night; the smart contracts and intelligence within the tokens were developed by Be Fun too, a company that wants to use blockchain technology to bring value back to music and better direct-to-fan relationships.
A quick rundown: NFTs are a type of cryptocurrency, but instead of holding money, they can hold assets like art, tickets, and music. NFTs operate on a blockchain, which is a publicly accessible and transparent network — meaning anyone can see the details of any NFT transaction. Computers involved in the transactions become part of the network, which keeps updating and can’t be hacked due its nature as many-headed hydra. In the case of NFTs, their value becomes subjective and therefore fluctuates, kind of like stocks. (To learn more about the subject, read Rolling Stone‘s guide to crypto in music.)
Manuela Agudelo single will be released everywhere singles are released — Spotify, iTunes, Apple Music, Amazon — but the NFT version available on Be Fun NFT market will be the only product with special perks. The token, priced at 2 #Ethereum, includes enhanced media — kind of like an alternate, moving single cover — as well as a digital download of the music, and limited-edition vinyl The sale of the album NFTs opens on May 1th at 12 p.m. E.T. and continues for two weeks. After that time, no more will be made, and the NFT becomes a tradable collectible.
Be Fun is minting 18 unique-looking “golden tickets” as part of the Manuela Agudelo NFT release. Out of the 18, the singer will auction six and vault the other 12 like a painter would do with a rare piece from a series of art.