Shinoda NFTs Are a Huge Success

Mike Shinoda has been popular online with his Twitch streams. During the popularity of crypto, Shinoda has been dabbling into NFTs for a while. Finally, on 3 December 2021, Shinoda’s released his own NFT series titled Ziggurats, and launched it on the Tezos NFT marketplace.

Ziggurats is one of the first large-scale music NFTs to be released. While some musicians have released NFTs with their albums, this one stands apart from the others as it includes unique music.

The NFTs were launched and quickly sold out. Users were able to purchase, or mint, 3 NFTs at a time for 15 XTZ each. The sale was so successful that even the Tezos blockchain struggled to handle the vast volume of trading.

The sale happened on the Ziggurats website. After it ended, sales of the NFTs between users continued, seeing a volume of $500,000 in the first 24 hours.

The Ziggurats series was designed to be the first generative NFT mixtapes. A total of 5,000 unique audio and visual tokens were included in the series. The music used has now been added to various streaming sites, such as media giant, Spotify. Each NFT has its own uniqueness and rarity rank which you can see on the Ziggurats website. 

The success Shinoda has gained might spark other musicians to follow suit. The current struggle is the limit of the file size. Many NFT marketplaces reduce the size which limits the length of the music that can be played. This is also one of the reasons that many NFTs are of such low quality.

As the NFT marketplaces grow we can expect to see full songs appear. When that happens we will likely see a change to how DMCA and music leasing works as NFTs can be used for licenses. It’s a good space to watch as utility continues to grow.

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Written by Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.

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