deadmau5 and Portugal. The Man Could Achieve First Platinum-Selling Song Distributed Exclusively as NFT
deadmau5 and Portugal. The Man are seeking to take their new collaboration Platinum exclusively through the use of NFTs.
In a groundbreaking use case, the artists are minting one million copies of their collaboration, dubbed "this is fine," on the NEAR blockchain. Fans can pick up a copy via the Mintbase NFT marketplace.
Copies of the NFT are being sold for 0.25 NEAR each, equivalent to around $2.25 USD. The methodology harkens back to the days of downloading iTunes singles for $1.29 each back in the pre-streaming era.
Outside of the single itself the purchase includes a copy of the track's cover art, which was developed collaboratively between Smearballs—the designer behind deadmau5's surrealist "Monophobia" music video—and Wooden Cyclops, the art designer for Portugal. The Man.
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An outspoken proponent of NFTs and their ability to reshape the creator economy, deadmau5 affirmed his hopes the effort will spur a longer-term trend.
"It’s about adoption," he said. "It’s about adopting this way of doing things for artists, and it’s also about public adoption and companies working together to adopt technology that’s going to make this easier for everyone."
The fact that the single exists exclusively as an NFT does not preclude it from achieving Platinum certification according to RIAA standards, as noted by Billboard. That means in theory, this practice could redefine the industry standards by which artists approach releasing their music while still aligning with the guidelines defined by industry-leading organizations.
So far the project is proving to be a smashing success with just 67,000 NFT copies still up for grabs at the time of writing.
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