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Daily Cryptex - Crypto News, Articles and Insights > Crypto News > Celo Foundation and Celosphere Unveil New Music NFT Collection
Crypto NewsNFTs News

Celo Foundation and Celosphere Unveil New Music NFT Collection

Burhaan Al Amin
Last updated: August 26, 2024 3:52 pm
Burhaan Al Amin Published August 26, 2024
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Celia Inside has launched a new music NFT collection on Celosphere, marking a significant moment for the platform. The collection includes 1,000 NFTs, each priced at 3 CELO (CELO), with 500 featuring the original track and 500 showcasing a remix.

These NFTs are among the first music NFTs available on Celosphere, making this launch notable in the platform’s history.

Music NFTs, or digital tokens representing ownership of specific tracks or albums, are gaining traction in the web3 space. They offer artists new ways to engage with fans and directly monetize their work.

These NFTs can represent anything from a single track to an entire album, offering exclusive ownership or access rights to buyers.

This release comes as the NFT market experienced a 23.4% jump in sales between Aug. 19 and 24, reaching just under $100 million in total sales. There was a nearly 43% increase in NFT buyers and a 41% rise in sellers.

NFT traders are showing a growing interest in blue-chip collections and emerging projects.

Details of the NFT drop

The drop, titled “iridescent wave: remix party,” features two versions of the track “Show You How.” The original song, an upbeat dance anthem, is paired with a remix by Venezuelan-American drag performer saltï, who won a remix contest in June during Pride Month.

Celia Inside, a web3 artist-producer active since 2021, was selected as a finalist for the Celo Creators Fund by Boys Club. Her blog, “iridescent wave,” highlights women and QPOC artists in the web3 scene.

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