NFT music stages to disturb Spotify in 2022, predicted by Saxo Bank

3D illustration of skull shaped disco mirror ball with headphones and shaded glasses
  • As popular music streaming services like Spotify cut much of musicians’ revenues, new technologies like nonfungible tokens will likely help artists grab back their fair share, Saxo Bank predicted.
  • Saxo Bank cryptocurrency analyst Mads Eberhardt argued that mainstream music streaming platforms such as Spotify and Apple Music take a substantial cut, which, together with the cut paid to labels, is some 75% or more of the total revenue.
  • At the time of writing, SPOT is trading at $229. In the meantime, Spotify’s revenues have been steadily growing over time, reflecting much potential for NFT-based music platforms to disrupt.

[Via]

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