The music industry loves NFTs.

If NFTs were a dancer, the music industry would be the proud and cut throat stage mom.

The industry's latest show of support comes from Muse, who are releasing their next album as an NFT.

(Oh, neat - an NFT album release...didn't Kings Of Leon do that a while back?)

They did!

But get this - there will only be 1000 Muse NFT albums to ever exist...and you can buy 1 for £20 ($24.50) when they drop on Aug 26.

(Can you imagine how much they will sell for in the secondary market??)

It'll be the first time the ‘digital pressing’ technique has been used - created by Serenade, an eco-friendly NFT marketplace.

Which means buyers will get a downloadable version of the album as high-resolution FLAC files containing digital signatures of each band member.

And, all 1,000 buyers will also have their names permanently listed on the linked roster of purchasers (i.e. recorded on the blockchain).

Here’s the really cool part:

In April this year, the Official Charts Company (OCC) made NFT albums eligible to be included in 'The Charts’ - a commonly used measure of an album’s success.

Muse’s album will be the first that falls under these standards.

Here’s how it could have bigger implications than we first thought:

All artists want to make it on ‘The Charts.'

OCC made a change to their standards; which, in turn, has allowed Muse to adopt this new technology to release their new album.

Seemingly small changes in standards/regulation/definition can spur innovation.

Just imagine what will happen when governments around the world create clear laws on what can, and cannot, be done in Web3 and crypto.

For now, this NFT album release is just one more step in the right direction.

READ MORE