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Kobalt Set to Launch Fully Licensed Direct-to-Fan Music Lyric NFTs

Kobalt Set to Launch Fully Licensed Direct-to-Fan Music Lyric NFTs
Kobalt NFT
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LONDON (CelebrityAccess) – Kobalt announced Thursday (August 18) their plans to release a Lyric NFT collection called An Electro Revival. In doing so, Kobalt says it will become the “first global music publisher to release a set of fully licensed direct-to-fan NFTs.”

Derek Cournoyer, Kobalt’s VP, Global Digital Partnerships, said that “after licensing many NFTs for various projects,” the company now wants “to dive deeper into this emerging market and experiment alongside our clients.”

The NFT market has attracted interest from various players in the music industry over the past 24 months, including all three major record companies – Universal Music Group (10:22PM / KINGSHIP), Sony Music Entertainment (MakersPlace), and Warner Music Group (Blockparty / Genies).

Kobalt is releasing the NFT collection in collaboration with Ghanaian visual artist, Afroscope (Nana Opoku). The digital art pieces were inspired by and include lyrics from the song “Le Petit Morte (a lude)” by singer-songwriter Dawn Richard. The artist has previously worked with the likes of Adobe Inc., Chance the Rapper, MTV Base, and what Kobalt calls “several other prominent creative entities”.

The company says that “the art blends Afroscope’s previous work of futuristic expression of African culture and fashion with Richard’s portrayal of a powerful, Black female superhero, emblematic of the song’s lyrical themes”.

Kobalt says that the digital collection contains three individual NFTs to be offered at reserve auctions on the Foundation platform. The reserve price will be set at 1 ETH (approximately $1,845 at current exchange rates) on August 25. Once the reserve price is met, a 24-hour countdown will begin.

Dan Smith, Senior Manager, Product, Kobalt, said: “Kobalt is always looking for opportunities to explore and embrace new technologies, particularly where they can benefit our clients. Creative expression is a step into the unknown, and we believe there is great benefit in mirroring this expression in our technology. This collaboration has been rewarding on so many fronts and provides a great learning experience that will help us further explore and scale potential Web3 opportunities with our clients.”

Richard said: “This opportunity was akin to how Kobalt has helped me put together sessions with other like-minded artists and songwriters, but this time they helped connect me with a visual artist as they knew my passion here. I chose Afroscope because I feel his work resonates with my music. Together, we are both pushing for the essence of culture and the power of black excellence through our art.”

Afroscope said: “Dawn and I have a strong mutual respect for each other’s work, and there was a synergy between some of our recent, individual visual explorations.”


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