Regardless of the declining interest for NFTs, music-centric non-fungible tokens of famous musician Ilaiyaraaja’s music will soon be launched on WishWorld on his birthday on June 2. It is interesting to note that the fans will be able to buy these NFTs without having to open a crypto wallet.
Wishworld is a music and entertainment NFT marketplace created by Aquilliz, a Blockchain Solutions Provider, and a celebrity management firm One Mercuri.
Aquiliz’s CEO Gowthaman Ragothaman says that they treat NFTs as a consumer engagement tool that brings a brand closer to the consumer. As a result, NFTs ought to be treated as a brand extension and not as a sale or gimmick.
“There is too much being talked about NFTs without a strategy in place. NFTs cannot be treated as a one of sale or a gimmick; it needs to be treated as an extension of the brand in the virtual world. I am extremely honoured to be launching this marketplace with none other than the Maestro himself to start with,” he said.
It is important to mention that NFT prices have been quite unreliable for past few months. Even Jack Dorsey’s (Founder of Twitter) tweet which was originally bought for $2.9 million was offered just over $6,200, about 0.2% of the price he paid.
For good causes
NFTs have been quite useful in raising money for causes in the past, particularly by celebrities. A non-fungible token created from Nelson Mandela’s original arrest warrant raised $130,000 in an auction to help fund a heritage site that documents South Africa’s struggle for democracy.
Similarly, the proceeds for Edward Snowden's NFT that sold for $5.4 million went to the Freedom of the Press Foundation.
The platform enables fans to interact with artistes and get access to their new work, and more. After buying stuff on WishWorld, users get access to the Owner’s lounge. There, they can meet other fans and collectors, meet new artists, and get even more exclusive access to new items.
Wishworld is not the first NFT marketplace for music and entertainment. There are other platforms as well which have become popular in the NFT entertainment sector including Tezos which created a music NFT marketplace Oneof. Read here about prominent NFT platforms in India and abroad.
Ilaiyaraaja is a film composer, singer and lyricist who works in the Indian film industry, predominantly in Tamil. Regarded as one of the greatest Indian music composers, he is credited for introducing Western musical sensibilities in the South Indian film musical mainstream. He has composed more than 7,000 songs, given film scores for more than 1,400 movies and performed in over 20,000 concerts.