Jupiter Meta, India’s first fully curated NFT marketplace, announces the launch of music NFTs for the first time in the country. The unique offerings will be made available as part of a special metaverse concert featuring a solo performance by singer and composer Karthik on April 14, 2022.
The release of music NFTs in the country is a landmark event. Music NFTs give musicians the right of ownership and allow them to reach their fans directly. These NFTs substantially benefit the creator, giving them more control over their work. For buyers of these music clips, there is potential in terms of a sense of ownership and financial flexibility.
“The metaverse isn’t just a buzzword anymore. It has real implications and brings actual value to the way we interact with one another and with intangibles such as culture and the sense of community,” said Manasa Rajan, CEO, Jupiter Meta. “Music NFTs will give users a specific value and sense of ownership that cannot be replicated, while the concert will bridge the physical divide between artist and fan in a sense and open the doors for more personalised and meaningful conversations outside our reality.”
A limited number of tickets are available on a fixed-price basis. Tickets that are purchased will be stored as NFTs in a user’s wallet, possessing a tradeable value.
Visitors will enjoy some classic hits and two entirely new compositions being performed for the first time. Ticket holders will be credited with the new tracks as music NFTs, and while one can play them for personal use, any commercial use may attract certain royalties for the performer.
Karthik expressed delight at being able to connect with his fanbase uniquely: “Doing something like this in the metaverse is beyond imagination! I’m really happy fans get to experience this special moment and own my new songs! It is going to be rocking.”
Coming on the heels of the country’s first-of-its-kind digital wall art—the ‘Icons of Singara Chennai’ project, the metaverse concert is among Jupiter Meta’s ambitious plans to create a metaverse for everyone. Visitors can enter the digital venue at least 30 minutes before the show starts to explore the space and meet their friends. One can move and sway inside the metaverse, clap, send emojis, chat, and make certain gestures like waving and raising the hands.