Bored Ape #9797 from the influential NFT project, Bored Ape Yacht Club (BAYC) recently dropped the first NFT music video, an animated visual for the song “Delist Your Ape (2DaMoon),” featuring hip-hop artist Reo Cragun and electronic producer Clear Eyes (aka Jeremy Lloyd of electronic duo Marian Hill). With industry-hitters including Future, Lil Baby, Post Malone, and Steve Aoiki buying into the popular collection, BAYC is leading the way for the music business to benefit from blockchain technology. As the first to distribute such a project, global music technology platform, Vydia, plans to enhance the relationship, so independent artists and labels can profit greatly from their digital art.
“We continue to see independent labels and artists get better access to the resources needed to be successful and NFTs are just one more revenue stream they can leverage without going to a major.”
– Roy LaManna, Co-Founder and CEO of Vydia.
The opportunity to turn large profits from the sale and resale of NFTs makes them both exciting and alarming. This juxtaposition is precisely why the general public is keen to understand the practical utility NFTs will have. This project, which amassed over 1m views in just 3 days, is a great example of how NFTs can be leveraged and show how a company or individual can use the technology to expand their business or monetize their assets beyond the speculation of the resale value. It also presents intriguing opportunities for organizations and individuals to engage their audience in a way that is impactful and beneficial to both.
“By selling ownership directly to fans, they become the biggest promoters and biggest sources of distribution,” says LaManna. “NFTs open the possibility for fans to benefit directly from the artist they love and allows the artist to put creative freedom at the forefront. Creators no longer have to appeal to the guise of mainstream audiences. They can push the boundaries and put out projects for their fans, however niche their audience may be.”
The ability to push creative boundaries is what made the BAYC project such a momentous success, with the duo promising more for the future. “This project is a testament to the limitless potential we have as artists,” says Clear Eyes. “When we recorded this track in 2019, NFTs didn’t exist, and now we are seeing our work unfold before the industry in a way we didn’t think possible.”
“It’s validating to see and it motivates us to continue to push the boundaries of what we can create. We really are headed ‘to the moon’,” adds Cragun.
Anonymous user, Bored Ape #9797, the creative force behind the project had this to say about the future of NFTs and other forward-thinking projects:
“This is the beginning for NFT Technology. The gatekeepers would have blocked my song from getting 1M views in 3 days, but the community and the tools I found like Vydia made it possible. I love that I was able to find tools that support me as an individual, tools that are going to allow me to reach my potential and are going to make our future great.”
This music video from Bored Ape #9797 is just the latest step Vydia has taken to champion forward-thinking companies and prominent labels taking on this quickly evolving space, including the new wave of AI-powered labels and artists. Vydia clients, including record label Mogul Vision and virtual record label Factory New, have positioned themselves at the forefront of change within blockchain technology. Most notably with Mogul Vision’s latest release “Pass Out”, featuring viral rapper Lil Mosey and AI-powered artist AVA, and Factory New’s signing of robot rapper FN Meka, who has amassed more than 10m followers on TikTok.