Senegalese-American singer, Aliaune Damala Badara Akon Thiam popularly known as Akon has had a very successful music career and is developing his own cryptocurrency-based city. Now he will combine his two hobbies as he plans to release his next album in the form of NFTs (Non-Fungible Tokens).
AKON Talks on The Impact of NFT in Music
In an exclusive interview with Esquire on January 14, the “Lonely” singer talks about the importance of the crypto world and how NFTs will greatly help artists in their careers.
He has always believed that recording artists “never really get their fair share of the profits from what they produce”.
It is believed that digitally owning their artworks in the form of NFTs will go a long way in helping the creators of the artworks derive more financial benefit from that creation.
Akon also explained why he intends to release his next album and all future music through the NFT route.
“My next album will be an NFT album. With that, I can start monetizing it on every existing platform that day. That means it’s about where your music is being played, who’s playing it, where they’re playing it, and how often opens the door to full transparency. Financially, you get it every time someone shares it, so that makes a lot of sense to me, and that’s all for my future music release.”
Akon was probably one of the first artists to get interested in the world of cryptocurrencies. He revealed the details of “Akon Crypto City” about four years ago while speaking at a panel at the Cannes Lions International Festival of Creativity.
Akon stated at the Cannes Film Festival, according to the New York Post that I think blockchain and cryptocurrencies can be a saviour for Africa in many ways because it brings power back to the people, brings the security back to the monetary system and also allows people to say that they can self-promote and not allow governments to do what makes them disappointing.