The aim of the project was to investigate the potential influence that the technology of ‘Non-Fungible Tokens’ could have on the music industry. Research was carried out within the fields of blockchain technology, smart contract coding, and audio-visual interaction and generation. The project aimed to create visual based NFTs generated from audio sources.
In summary, it is evident that the music NFT space is still in a stage of experimentation and infancy. With the current music industry stagnating, there is an undeniable opportunity for this innovative technology to disrupt the status quo. Participants and artists are clearly driven to experiment and create functional utility for both consumers and artists. However, more time is needed to allow the space to fully mature into something more innovative than it currently is.