Danish trade and investment bank Saxo Bank said it believes NFT music platforms will rise in 2022, even surpassing Spotify.
According to Saxo Bank, major streaming platforms get a larger share of revenue earned from content than musicians. Believing that artists can have a greater share of revenues thanks to NFT-based platforms, Saxo Bank bases this idea on the use of third-party services, most of which musicians from streaming platforms use. Saxo Bank to the consumer have direct access to and for eliminating third-party services He thinks this is not the case with NFT-based platforms.
According to a study by Saxo Bank’s in-house analyst, the total revenue of a song 75%While i is shared by the platform and record company, 25%An amount close to ‘ is left to the artist.
Saxo Bank, Audius He thinks that the success of platforms like this year will attract other NFT-based platforms to the industry. Audius, especially this year Jason Derulo and Katy Perry He has established partnerships with people who are among the best artists in the music industry, such as By eliminating third-party services, Audius connects artists and listeners directly.
Saxo Bank also expects Spotify and similar platforms to lose value in 2022 with the developments to come.