By Ivan Mwine
Celebrated musicians Nina Kankunda aka Nina Roz and Andrew Ojambo alias Daddy Andre have become the first Ugandan musicians to sell their music as Non-Fungible Tokens (NFTs)
It should be noted that Black Market Records recently officially joined digital music selling platform OpenSea, in a bid to sell music as NFT (Non-Fungible Tokens), so Daddy Andre and Nina Roz, both signed under the record label, have been the first Ugandan artists to start selling their music via OpenSea.
It should be noted that a Non-Fungible Token (NFT) is a non-interchangeable unit of data stored on a blockchain, which is a form of digital ledger, that can be sold and traded.
Following this new development, it means that people across the globe who want to buy Nina Roz or Daddy Andre’s music or that of any other artist signed to Black Market Records can easily log onto the Black Market Records OpenSea portal to buy and or resell the songs as NFT.
OpenSea is the world’s first and largest NFT market place across the globe that deals in collections of music, movies, art, photography, etc.
So, the music bought as NFT (Non-Fungible Token) can be traded, resold and considered an investment by the buyers, because the value of the NFT can rise or drop.
That means that people who buy Nina Roz, Daddy Andre or any other artiste’s music on the Black Market Records portal as NFT can resell it any time when the NFT value rises.
Besides Daddy Andre and Nina Roz however, other artistes signed to Black Market Records whose music is available for sale include Angella Katatumba, the Mbuzi Gang, the Boondocks Gang
Buying and selling music as NFT is a revolutionary way of changing the music business in the industry especially because when you buy music as NFT, it doesn’t change value but maintains the value of what you buy and sell.