The 2022 MTV Video Music Awards (VMAs) added a new category to its list of competition categories. This year artists are eligible to compete under the category of “Best Metaverse Performance” for a coveted award. Initially, the award show began in 1984 as an esteemed recognition for music video prowess. Major music artists, including Madonna, Nirvana and Kanye West, are among previous VMA recipients. Typical award categories include, “Video of the Year,” “Artist of the Year,” and “Song of the Year,” though this year there is a Web3 twist. The VMAs took into account performances in the metaverse and created …

While the entertainment and production industry is still primarily dominated by the West, shows like the Squid Game demonstrate an opportunity for non-Western productions to take flight on the international scene. With some help from Web3, creators in developing markets can find their way to a bigger stage, according to an expert in the entertainment industry. In a Cointelegraph interview, Mehmet Eryılmaz, the CEO of the entertainment-focused Web3 team Faro Company, shared his thoughts on how Web3 can contribute to the development of entertainment in emerging countries. According to the executive, media and entertainment companies have been plagued by gatekeepers, …

It's an all-too-common problem: artists have brilliant ideas for albums that take them in a new creative direction, but record labels stand in their way. But now, a blockchain-based music platform is promising to give creatives complete control over their works — all while allowing devoted fans to get involved in the production process. Corite says it eliminates the need for record labels and managers altogether by enabling artists to secure funding directly from the public integrated with BNB Chain. Musicians can now make key decisions — determining how much they need to raise in order to release an album …

GameStop’s new nonfungible token (NFT) marketplace took home roughly $44,500 from transaction fees in the first 24 hours after it launched via a public beta on Monday. GameStop NFT reportedly generated around $1.98 million worth of NFT sales on its first full day of business. As the platform charges a 2.25% fee on NFT sales, this equates to roughly $44,500 worth of fees. While that sum may seem underwhelming, considering it would represent just 0.27% of GameStop’s daily revenue for 2021, it depends on the perspective. According to gaming news outlet Kotaku, GameStop had 4,816 stores across the U.S. at …

While critics use the bear market as an opportunity to pounce on crypto and belittle its value, some projects take this chance to develop and launch industry-disrupting platforms on the blockchain. In July, firms launched or revealed their intentions to construct blockchain-based music licensing platforms that aim to change the way songs are licensed by reducing costs, removing intermediaries and bringing all of blockchain’s inherent benefits to the music scene. Commenting on the topic, Mehmet Eryılmaz, the CEO of Web3 entertainment firm Faro Company, said that blockchain provides new frameworks for traditional industries. He explained that: “Blockchain offers an opportunity …

According to Mike Darlington, CEO of Monstercat — an electronic music platform — and Jake Udell, founder of social NFT platform Metalink, bear markets are a time to ideate and build new products. During this week’s episode of NFT Steez, a bi-weekly Twitter Space hosted by Cointelegraph analysts, both Darlington and Udell agreed that the future will be bright for crypto and especially for music nonfungible tokens (NFTs). During the interview, Darlington and Udell explained the importance of researching projects with “sustainable teams” that continue to build despite the current market conditions and they encouraged investors to learn from the …

The billion-dollar music industry is undergoing a major transition as artists begin to understand the potential of owning their work through nonfungible tokens (NFTs). Ashanti, the multi-platinum-selling singer, actress and co-founder of EQ Exchange — a women-led Web3 platform — recently shed light on this during a Cotton Candy Records meetup that took place on June 20 in New York. Speaking on a panel alongside Janice Taylor, founder and CEO of EQ Exchange, Ashanti went into detail about how important ownership is for creators today. Drawing from personal experience, Ashanti said: “It is incredibly important to continue the narrative that …

Only a year and a half ago, there appeared to be bad feelings between Snoop Dogg and Eminem, both of whom are Dr. Dre's proteges. Now, the legendary rappers have a new music video where they are featured as Bored Apes. On June 24, Eminem tweeted that a new song called “From The D 2 The LBC” would be released. The post included the song's art, which is in a comic book style with two cartoon monkeys representing both Snoop Dogg and Slim Shady and their connection to Bored Ape Yacht Club. He followed up swiftly with another tweet advertising …

ApeCoin (APE), the Ethereum-based token tied to the widely popular and almost definitely probably not 4Chan-related Bored Ape Yacht Club NFT project, saw its market cap drop by 67.2% or $4.3 billion during May and it has continued to slide since. Despite bearish macro factors looming over both crypto and stock markets throughout 2022, May, in particular, was a difficult month for crypto — thanks, Terra. Much like many other assets, ApeCoin was unable to escape the brunt of this downturn, and its market cap declined by $4.3 billion to sit at roughly $2.1 billion by May 31 as the …

Job creation is traditionally engineered by politicians desperate to get the country back to work and to be seen as stimulating the economy. From the job creation programs of the Great Depression to United States President Barack Obama’s American Jobs Act, employment schemes have a long, checkered history. Today, fostering meaningful employment for the masses remains as popular as ever with policymakers, and yet, the next great job creation scheme is unlikely to be issued as a top-down order. Rather, it will emanate from a realm that most politicians have little dominion over and few powers to control: the Metaverse. …

Popular trading platform Robinhood is creating a noncustodial crypto wallet that will be compatible with multiple blockchains. The wallet will be a standalone application with the ability to store nonfungible tokens (NFTs) and connect to NFT marketplaces. A promo video released for the wallet shows a demonstration using Ethereum-based NFTs. Trade and swap crypto with no network fees. A web3 wallet from us. Get early access: https://t.co/qonXj80BEB pic.twitter.com/qLjByPA4ty — Robinhood (@RobinhoodApp) May 17, 2022 The app is a significant step for the company in providing crypto services. Prior to January 2022, trading crypto on Robinhood was a closed system with …

Major music streaming platform Spotify is reportedly testing the option to include nonfungible token (NFT) galleries on musicians’ profiles. Should the trial succeed, the embedding of NFTs would serve to improve artist and fan experiences. Reports surfaced on Friday that Spotify is running a test for select users of the platform’s Android app in the United States. These users can see the NFT previews on the artists’ profiles. Currently, there are only two such artists, DJ and producer Steve Aoki and indie rock band The Wombats — both of which are known for their adoption of NFTs. It’s not possible …