For the past few months the entire industry has been raving about non-fungible tokens NFTs which are digital collectibles stored on the blockchain and can represent anything from art to music and real-world assets.

What is the nft craze in music. Here is a classic example of a moment and its ownership. What The New Crypto Craze Is And What It Can Be Soon - GameSpot. Grammy award-winning artist The Weeknd has joined a list of personalities capitalizing on the ongoing NFT craze.

But that does not mean NFTs represent the future of art. I feel like I get better and better at the spiel every time Gaviota laughs as I ask him the inescapable question what is an NFT. Born out of the visual art world NFTs can be used to prove ownership of a specific piece of music art or merch or secure access to live shows.

NFTs are gathering hype and controversy so. Over the past few months dozens of musicians have entered the NFT fray such as Grimes who in February sold some 6 million worth of digital artworks in one auction and the more mainstream Kings of Leon. The creation of the EtherRocks was inspired by the Pet Rock toy craze in 1975 and only 100 ETHRocks will ever exist.

NFTs unique digital assets in a blockchain used to represent digital forms of objects such as music art videos and images have been around since as early as 2012 2013 when Colored Coins entered the crypto space. What could NFTs do for the music industry. And the NFT craze will probably stick around for a bit longer because the novelty and the hype surrounding it currently hold some value.

The musician has teamed up. Over the past few months dozens of musicians have entered the NFT fray such as Grimes who in February sold some 6 million worth of digital artworks in one auction and the more mainstream. More ABC News Deirdre Bolton examines the nonfungible token frenzy whether its a bubble or the next big investment and talks to the biggest seller of.

The asset was a 36-second. However they received renewed interest in 2021 constantly being in the headlines. Whats behind the NFT digital craze.