Akon is merging the world of crypto with the music scene, announcing that his next album will be sold as a non-fungible token (NFT), Esquire reports.
“Throughout my career, I have always believed that artists never really got their fair share of the profits for the work they produced and people listen to,” Akon told Esquire. “So with the idea of owning a piece of digital art, via an NFT, it allows the creator to benefit more and actually get more of the pie.”
While his plans further affirm cryptocurrency’s ability to allow artists to maximize earnings from their content, it appears profit is not the only interest to Akon as he cites the NFT drop will allow for transparency and access to information from album buyers.
“My next album is going to be an NFT album. With that, I’ll be able to monetize it from the day it drops on every platform that exists. What that means is that it opens the door to full transparency where your music is being played, who’s playing it, where they’re playing, and how many times it is played. Financially, you get the royalty every time someone shares it, so it makes sense to me, and that’s the route want to go for all my future music releases,” Akon told Esquire.
Akon Believes Crypto Is The Future
It is to no surprise that Akon stands firm in his stance that crypto is the future for not only creatives but businesses, too.
As AfroTech previously told you, Akon has been on the move and plans to build a crypto empire in Senegal and Uganda. Akon even launched blockchain-powered cryptocurrency Akoin to financially empower entrepreneurs in Africa.