NFTs are units of data stored on a digital ledger called a blockchain. Unlike cryptocurrency, NFTs are not interchangeable.
The label plans, along with its artists, to release NFTs related to additional benefits for investors, among other things to come out. The use of NFTs will change the power structure and profitability of the music industry. In short, Legacy plans to evolve the industry as we know it.
Yes, transactions using NFTs allow the public to participate in auctions for unique content from the artists they love. Keishia McLeod, CEO of Legacy Records, explained in a recent interview:
“I see 2 choices here, either get involved or be left behind. What we‘re working on will allow many other sources of income for artists for real wealth. Love to see how these, inside and outside the industry, creatively integrate the use of NFT‘s. I’m serious‘s no secret NFT‘s only have already won millions for artists: but as for the cryptocurrency and‘s potential as a whole, we knew that day would come and we‘I am preparing to go further. I do not have any‘I think any business can afford to be complacent about the future. He‘a really exciting time for us [the world] at present. It’s the future, not a trend. ”
Currently, these tokens and the transactions that involve them empower the artists who sell them.
Equally impatient, Virgin Music Label & Artist Services, has jumped on board with Legacy Records and is just as willing to pay artists in Bitcoin.
Virgin is a new global network launched by Universal Music Group to provide premium and flexible artist and label services to the industry‘The most dynamic entrepreneurs and independent talent from around the world, inspired and influenced by the spirit and philosophy of iconic label Virgin Records.
In addition, entertainment advocate Navarro W. Gray, of New Jersey‘s ‘The gray firm‘, merged with Legacy and noted that “Legacy Records is the first record label in history that offers its artists the opportunity to receive their installments and royalties in cryptocurrency. There hasn’t been such a change in the music industry since digital distribution and streaming. “Gray played an important role in the label.‘s success so far.
The eminent lawyer explained his enthusiasm for “I am happy to be such a complex part of the machine that will be at the forefront of this digital path, ”and commends Legacy, their efforts and dedication throughout the grounding process.
Carolyn Boroden is also excited about the future of the company. She is the owner of Synchronicity Market Timing, LLC and Fibonaccic on Twitter. Boroden is a technical market analyst and educator using Fibonacci time and price parameters as a methodology. She also runs a live day trading room on elliottwavetrader.net and writes for Jim cramer on its real money website, realmoney.thestreet.com. She added in a recent interview, “I love that Legacy gets involved in cryptocurrency payments, ”Boroden said. “When a lot of my longtime friends now ask for Bitcoin advice and my Uber driver asks his grandma, I think‘the time has come. ”
Inheritance is in the crypto space for the long haul. The rise of cryptocurrency has this innovative label that takes names everyday and changes the industry as it goes.‘is known. Legacy will be indefinitely recognized as the first label to pay in Bitcoin, and their level of excellence should not be taken into account.
SOURCE Legacy Records