Presenting The RDU 98.5FM ŌMAP NFT 2022-2023 Collection

The Ōtautahi Music Access Programme (ŌMAP) is able to subsidise access for 20 Ōtautahi artists or bands to produce unreleased pieces of music. Each recipient is given access to SALTBOX’s full studio capabilities and allows them the opportunity to professionally write and record an original piece of music. The collection is the result of their work, and features the finished track from each artist.

The notion of a secondary or third market for Musicians to realise value from their creative work is worth exploring. It’s safe to say, blockchain and cryptocurrencies are here to stay. Collectively we are not afraid to get our feet wet in order to support NZ musicians.

The collection is available via OpenSea, the world's first and largest web3 marketplace for NFTs and crypto collectibles.

The potential benefits of the wide adoption of NFTs in the music business are numerous — to name just a few:

• Increasing licensing efficiency: making licensing easier, facilitating the exchange of music rights and creating a public record of ownership that can be used to resolve overlapping royalty claims.
• New forms of investment: opening the music rights market to the general public. With the help of NFTs, artists can allow their fans to invest in their copyrights directly. There’s a good reason labels and publishers are a part of the artist's careers — and the point is not to bypass them completely, but to enable other sources of investments.
• New ways to monetize music: Most NFTs marketplaces automatically pay out royalties to the creators whenever the NFTs are bought and sold. Hence, artists can earn a bit of royalty every time their digital art piece is flipped

RDU 98.5FM and its partners continue to explore the outer boundaries and future potential that enables musicians to make informed decisions about new revenues.

SALTBOX Studios has also begun to develop resources that teach musicians how to create and sell NFT’s - WHICH CAN BE FOUND HERE.

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