Our longterm NFT strategy
We have just released a Rolling Stone Australia NFT of our cover with Tones And I, and it’s available until 12pm today. We’re the first in the world to release a Rolling Stone NFT and we are releasing it at a time which is unquestionably a bear market.
The average price of NFTs right now is just over $1k, down from $4k/NFT in February this year.
We have priced the NFT at $130, rather than the $1k+ price point which was recommended to us prior to the launch. Recently, Lupe Fiasco was selling his NFTs for up to $2k.
This price point represents the reality of this drop – it’s our very first one. Making the buying opportunity low risk, but also giving early adopters the most potential upside come the next NFT bull run.
However, our NFT store is unlike any other that has come before it, and that is thanks to ARIA. Each bundle we sell will count towards Tones And I’s chart numbers, because our NFT store is indeed ARIA accredited. The implications of this are huge for Australian artists come the next NFT bull run.
Sure, right now we might only be selling a few NFTs at a relatively low price, but over the next few years we plan to do a lot of drops with many different artists helping them drive their album campaigns and week one numbers. The result will be the slow build of a music-loving NFT community.
For NFT collectors, they will be able to get in early and buy the limited edition NFTs we release during a bear market at a super cheap rate, and can build up a solid exclusive collection in the coming years without a huge expense. When the next NFT bull market arrives in a few years time, their collection will likely be worth 10x what they paid for it.
For artists, we will be slowing building this community of NFT collectors, so in years to come we will have thousands of collectors to reach with every drop we do. This means a stronger album campaign for artists, and a bigger market demand which will result in far more creative and valuable perks for their fans.
The first ever Rolling Stone NFT is only available until 12pm today. If you’d like to be part of the journey, and add the first ever Rolling Stone NFT to your collection grab one for $130.
This article originally appeared on The Industry Observer, which is now part of The Music Network.