According to a video recording of the event, Aoki said NFTs are transforming the music world by adding “scarcity” and a “collectible mindset,” similar to Pokemon cards.
“As music NFTs become more of a part of how we integrate and support artists, the labels will have to do more than just add the song on a playlist,” Aoki said at the forum.
Crypto enthusiasts argued that NFTs could be the basis for the blockchain-based successor to Web 2.0, known as Web3, and the virtual world known as the metaverse.
