As a result of a recent development, OpenSea, one of the most popular music NFT marketplaces, is no longer offering resale royalties to creators of NFTs. In this article, we will explore the broader landscape of music NFTs and explore the implication of OpenSea's decision. It has raised questions about the viability and future of music NFTs. The OpenSea Decision In light of OpenSea's decision to eliminate resale royalties for NFT creators, musicians and artists will not receive them anymore when their NFTs are resold. Resale royalties used to support creators' production and ensure a steady income stream. Challenges for Musicians Musicians have used NFT for years to connect with their fans and monetize their work. The NFTs provided artists with a means of sharing exclusive content with their fans, including unreleased tracks, concert footage, and merchandise. Because of OpenSea's decision, some musicians are unlikely to consider NFTs a viable revenue stream. Impact on t...
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