Nashville-based Solo Music launched their NFT marketplace today, the latest music NFT startup out of the gate in a sector that's had trouble finding its footing.  

Solo Music launches with Grammy-nominated country singer Eric Paslay, producer Tommy Cecil and record label Capricorn Studios. The service will allow users to purchase NFTs and experiences with their favorite artists and plans to launch a concert-ticketing program in the near future. 

“Solo Music was born out of necessity," said Barron Solomon, Founder and CEO of Solo Music. "Technology has not evolved at the same rapid pace of the music and entertainment industry, resulting in slow ambiguous royalty payouts, illiquid artist assets, overpriced secondary market tickets, forged merchandise and counterfeit concert tickets. Solo Music solves this and bridges the technology gap. With a mission of driving blockchain adoption in the music industry, we are making digital asset sales simple and profitable while providing fans with unique experiences at affordable prices.” 

Solo Music is far from the only NFT music service, but as yet no service has come to dominate the sector — a complicated morass of contracts and existing royalty infrastructure.  

Les Borsai, co-founder and chief strategy officer at Wave Financial, has a background in music and said there are many kinks to be worked out if NFT music is to take off. 

"The problem is when you look at (music) IP ... you've got to get approvals from the master holders, the publishers for the music to make an impact," said Les Borsai, Co-Founder and Chief Strategy Officer at Wave Financial. "You're going to see destinations completely shirk all the rules about IP and there's gonna be a problem." 

Solo Music's chief competition may be OneOf, an "environmentally friendly" music NFT service on the Tezos network that launched this week with NFTs from Doja Cat. The service closed a massive $63 million seed round in May and has been hiring for myriad executive level positions in recent weeks. 

Disclosure: Stephen Stirling is a senior reporter for the Street Crypto. He is an NFT artist that uses the platform OpenSea, and holds NFTS from NBA TopShot, Zed.Run, Robotos and the Adam Bomb Gang currently valued at more than $500 USD. 

 

Nashville-based Solo Music launched their NFT marketplace today, the latest music NFT startup out of the gate in a sector that's had trouble finding its footing.  

Solo Music launches with Grammy-nominated country singer Eric Paslay, producer Tommy Cecil and record label Capricorn Studios. The service will allow users to purchase NFTs and experiences with their favorite artists and plans to launch a concert-ticketing program in the near future. 

Member Exclusive

Get Access to Our Exclusive Content