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22.12 - 18:07
NFT music platforms to disrupt Spotify in 2022, Saxo Bank predicts
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As popular music streaming services like Spotify cut much of musicians’ revenues, new technologies like nonfungible tokens (NFTs) are likely to help artists grab back their fair share, Saxo Bank predicted.
According to one of Saxo Bank’s Outrageous Predictions 2022: Revolution, music creators would benefit from NFT-based streaming platforms as they allow distributing music directly to listeners without centralized middlemen charging a fee.
Saxo Bank’s cryptocurrency analyst Mads Eberhardt argued that mainstream music streaming platforms like 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.
“These models don’t guide individual subscribers’ fees to the actual
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