Bob Dylan and Miles Davis NFTs planned as Sony and Universal join Solana Marketplace Snowcrash

Solana blockchain-focused startup Snowcrash has announced that Sony Music and Universal Music Group will be part of its upcoming platform, which is slated for Bob Dylan and Miles Davis NFT drops later this year.

NFT are unique tokens that exist on a block chain like Ethereum or Solana. The music industry has taken a strong interest in NFTs as a way to further monetize artists and content, with musicians like Dolly Parton, Steve AokiKings of Leon, and 3lau cultivate NFT-focused brands.

Snowcrash will compete with other Solana-based NFT marketplaces like Solanart and Solsea. OpenSea, the largest NFT marketplace, has seen nearly $3.6 billion on sale last month, but currently only offers minted NFTs on the Ethereum and Polygon blockchains. (OpenSea may add Solana NFTs soon.)

Sony Music plans to work with Snowcrash to “develop a range of opportunities for our recording artists with a focus on providing accessible and user-friendly experiences for creators and fans alike,” said Dennis Kooker, president of operations. digital worlds from Sony. A declaration.

Michael Nash, executive vice president of digital strategy for Universal Music, echoed Kooker’s belief that Snowcrash will provide new opportunities for artists.

Sony and Universal join Snowcrash is just the latest example of major labels diving into Web3. Warner Music Group recently announced a partnership with blockchain gaming company Splinterlands, citing a desire to engage its musicians in games to win.