The release of smart contracts capability on Cardano has brought with it some interesting projects. Cardano had revealed multiple partnerships over the course of its two-day Cardano Summit. These projects aimed at increasing utilizing the capability of the blockchain to its fullest potential. But before smart contracts had debuted on the platform, non-fungible tokens (NFTs) had been supported.
Cardano network has seen thousands of NFTs being minted. This had been actively encouraged by the developers in order to entice the community into using the blockchain as its default for minting NFTs as opposed to well-established networks like Ethereum and Solana. The latest iteration of the network promoting NFTs on the network has come in the form of founder Charles Hoskinson releasing dance artiste Paul Oakenfold’s album as an NFT on Cardano.
Hoskinson Teams Up With Paul Oakenfold
Celebrities have taken to NFTs like fish to water. From athletes to musicians, NFTs have presented as a new way for public figures to stay connected with their fan base, while also monetizing their image. Now, founder Charles Hoskinson is taking it one step further as he partners with Paul Oakenfiled to release the DJ’s album as an NFT on Cardano.
One of @ethereum's original co-founders, @IOHK_Charles, is working on a collaborative album with dance music legend @pauloakenfold.https://t.co/WUgw3AV2XF
— EDM.com (@TheEDMNetwork) September 29, 2021
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The announcement was made at the just-concluded Cardano Summit and will cover everything from Oakenfield’s album, down to its cover art and notes. The dance and trance DJ who is of British descent has been nominated for three Grammy Awards over the course of his career and is regarded as a legend in the EDM scene.
Hoskinson has been working closely with the artiste to bring the project to life on the blockchain. The founder believes that blockchain technology is important for the future of the music industry and is interested in how this will work. “Getting to learn about the electronic music industry and how the blockchain can support it has been a revelation,” Hoskinson said.
Bringing Music To Cardano
Oakenfield’s album will not be the first, nor the last, to bring music to the blockchain as NFTs. For Cardano alone, multiple music and music-related acts have brought their talent to the world through the network.
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Most notable of these had been the launch of ZZ Top frontman Bill Gibbons’ music NFT collection on the blockchain. Auction for Gibbons’ collection had run in the same time frame as the Cardano Summit, and it included 30-second original jam sessions digital music by Billy Gibbons and one Golden Ticket which conferred a 20-minute one-on-one session with the artiste.
Earlier this month, the blockchain had seen the launch of the first-ever music label to be launched on the blockchain. $GREED is a crypto music label that was launched on the ecosystem as a smart contract.
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