In a neck-to-neck chart battle between Noel Gallagher’s High Flying Birds and the Foo Fighters, Noel Gallagher has introduced a new weapon in the form of NFTs. Gallagher’s band has launched an NFT version of its latest album, Council Skies, which allows fans to purchase a digital pressing of the album along with signed and colored limited-edition artwork, access to a docuseries, and a digitally signed lyric sheet. The NFTs have been made possible through Web3 music platform, Serenade.
The drop marks a crucial period in the chart battle, with the two bands separated by only a slim margin. As of now, the Foo Fighters hold a slight lead of approximately 500 units, with streaming figures still to be included in the count. However, the NFT release could make all the difference, and Gallagher’s band has chosen the perfect moment to venture into Web3.
Noel Gallagher is not new to the world of NFTs. In March this year, he sold a single NFT for 30 ethereum (about $65k). The NFT featured a demo of a new song, an audiovisual piece showcasing the making of the song, and handwritten lyrics. Gallagher’s move to NFTs is indicative of how creatives are increasingly seeing the technology as a means to reach their fans and create new revenue streams.
The use of NFTs is expanding rapidly in the music industry. Top artists like Kings of Leon, Grimes, and Deadmau5 have recently released NFTs for their fans. The technology’s ability to create scarcity, unique ownership, and provenance of digital assets is particularly intriguing to artists, who can leverage it to monetize and protect their work in innovative ways.
In conclusion, Gallagher’s NFT release adds a new dimension to the modern era rock music chart battle. The move exemplifies how NFTs are disrupting the music industry and offering artists new ways to engage with fans and generate revenue. Regardless of the outcome of the chart battle, it is a significant moment for the music industry, and more artists are likely to follow suit in the near future.