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Digital music solutions firm 7Digital's (LON: 7DIG) eMusic Live joint venture will offer artist non-fungible tokens alongside ticketed events, the company said on Thursday.
It will become the first music livestream platform to offer NFTs alongside ticketed events, with the Aces becoming the first band to do so when they perform later this month.
The livestream will make use of the range of other commercial and engagement tools available through eMusic Live.
Paul Langworthy, CEO of 7digital, said: “We are pleased to see that eMusic Live, our joint venture with eMusic, continues to innovate and use cutting edge technology to support artists in directly engaging with their fans.
“We were already giving artists the only end-to-end monetisation platform offering engagement, sponsorship, merchandising and direct chat experiences.
“By adding NFTs – an industry first – we are leading the way in the evolution of digital merchandising: allowing fans to own genuine content and substantially increase artists' monetisation ability. We are happy to have The Aces as the first band to bring NFTs to market on our platform and we expect this new offer to attract other artists and bands who wish to do the same.”
7Digital's share price is currently trading at 1.328p, up 0.15%.
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