Catalog is an NFT (Non-fungible token) marketplace built specifically for the music industry. With the goal of reclaiming music ownership for artists they’re using cutting-edge technology to redefine how music is valued, bought, and sold.
NFTs have taken the world by storm in the past several months snatching headlines and generating millions of dollars for artists around the world. The medium presents a new way for artists to sell unique art to fans, collectors, and even speculators. In a time where the music industry has been financially crippled by the pandemic, NFTs have already generated $60.2 million in the industry, with $55.7M coming in the past two months. With numbers like that, artists and fans alike are seeing NFTs as a potential paradigm shift.
Launched in early March, Catalog’s timing could not be more perfect. While there are many NFT marketplaces, Catalog is the first platform with the sole purpose of creating, discovering, experiencing, and exchanging audio NFTs. Within 24 hours of their launch, they had already locked in $100,000 in bids. In less than two months they’ve launched NFTs with a wide array of top-tier artists including Eprom, Richie Hawtin, oshi, SALVA, Boys Noize, Laxcity, and more. With over $170k+ in sales to date, the platform has already helped artists generate the equivalent of 43 million streams on Spotify. The future of Catalog is bright.
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