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Many global companies and brands seek their potential marketing and advertising through NFTs and also make them close to users
Two well-known names from the music industry have collaborated and are soon to launch NFTs. On Wednesday, American music and entertainment media company Billboard announced that it partnered with Universal Music Group. The two music firms came together to launch an NFT project called Chartstars.
As Billboard stated, the Chartstars NFTs will consist of officially licensed creations that include short visual clips of music videos and album photos.
Further details about Chartstars’ NFT project revealed by Billboard are that the NFT product will be focused on music fans and aim to praise the achievements and milestones achieved on Billboard Charts. Chart stars NFTs will be based on the Flow blockchain network.
Billboards announced that the launch of Chartstars will be Billboard’s first and scalable NFT project entirely focused on music fans. Charters NFTs will be a collection of digital artwork focused on artists commemorating their achievements and milestones on Billboard charts. As per the plan of the firms, incentives will be implemented into Chartstars NFT project of Billboard.
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Billboard has more to say about NFTs. The platform will collect and gamify through collector leaderboards, challenges, and actual utility baked into smart contracts like Billboard live events special access. First Chartstars products for purchase will be available from May.
Executive vice president of digital strategy at UMG, Michael Nash, said that Billboard evolves new ways for fans to connect to their favorite artists. Harnessing its charts for these digital collectibles, the music media company is creating a new way for artists and fans to celebrate cultural movements and unique achievements.
Agreeing with Nash, the president of Billboard, Julian Holguin, said that it will be the first time that music fans have the opportunity to be linked to their favorite artists forever by sharing ownership of that picture, that moment of a time.
Julian added that those digital collectibles would commemorate the special achievements of artists in Billboard’s iconic charts with visually remarkable creativity. Fans will also be competing for real-life prizes, which will add an authentic gamification layer to the platform.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
