Steve Aoki Shares His Thoughts on NFTs Changing the Music Industry

Prominent DJ and producer Steve Aoki expressed his enthusiasm for NFTs during a recent Gala Music event, noting that he has been in the emerging technologies space for a few years and hopes that it will someday change the music industry. Aoki gave the opening talk at the private event which was held on February 10 in Inglewood, California.

Gala Music is the latest derivative of blockchain games startup Gala Games. Sarah Buxton, Gala Games chief operating officer, and American electronic artist BT also spoke at the event. The former talked about gaming and music while BT discussed his NFT collection that recently dropped on Monday.

BT’s Orbs NFTs caused a commotion within the NFT community, particularly for their exorbitant starting price at 11.1 ETH each or roughly around $32,000. During Aoki’s opening talk, he regarded himself as a futurist believing that NFTs could aid artists who receive a meager income from royalties and gigs.

“If I didn’t have DJ-ing… I would have to get a job,” said Aoki. He also affirmed that 95% of his music income comes from live DJ performances while royalties aren’t exactly all that significant. “But if I was to really break down, OK, in the 10 years I’ve been making music… six albums, and you [combine] all those advances, what I did in one drop last year in NFTs, I made more money. And also, I was way more unhinged with music.”

Aoki adds that NFTs draw a lot of support from communities that many musicians can capitalize on. “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,” explained the veteran DJ.

Aoki is both a collector and creator, owning a number of Bored Ape Yacht Club (BAYC) NFTs while also working on an NFT marketplace on the Solana blockchain. He is also set to release a membership club based on NFTs dubbed as the “Aokiverse” which will “coexist with the real world.”

Source: Decrypt