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This Week In Music: Kings Of Leon Offer Album On NFT – But Past Formats Have Left Listeners SOL

The NFT plan is new, but it harkens back to ancient times in the 20th century for the music industry, which has been built on selling and reselling music in ever-changing formats.

Starting with player piano rolls, the business has reinvented its product many times, always promising something newer, better, more democratic, and salvation from corporate interests. Of course, not every solution that has been put forth is wonderful. Imogen Heap, an early adaptor of blockchain, was celebrated for offering a single through a complicated download. In 2017, when it was still fresh, it managed total sales of a hundred and thirty three dollars and twenty cents in its blockchain edition, later moving to more accessible platforms.

Go back several decades, and you’ll discover similar crashes and burns. In the 1990s, there were the highly touted wonders of the Philips Digital Compact Cassette and the Sony Minidisc. The Philips format was discontinued in 1996 with less than 250 titles. The Minidisc is still around, but if you spot one in actual use, call the police. Good luck finding a working player.

Also worthy of your consideration in the audio format Hall of Shame are the DVD-Audio and Super Audio CD, RealAudio, and even the MP3, the format that almost ruined the record industry via Napster, but now is building it back up thanks to streaming. Heck, the record industry used to delete popular artists in vinyl, hoping to sell compact discs to those who still wanted the music, and for a time, it was hard to find turntable repairs outside of the biggest cities.

So, go ahead and buy the Kings of Leon NFT. It may someday be worth a lot. Just like that Digital Compact Cassette holding open your door, it will likely offer perfect sound forever, as

Article source: https://deadline.com/2021/03/this-week-in-music-kings-of-leon-offer-album-on-nft-but-past-formats-have-left-listeners-sol-1234708493/

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