NFTs also could provide a new type of collectible for music fans, such as music or videos, for the same price as a traditional tour book sold at concerts, Mercuriadis said. “In the future, with NFT and blockchain, those billions of transactions will be able to come back to you in real time.” “Someone like Nile Rodgers, whose songs have done incredibly well for 40 years … every six months, (he’ll) get a statement from Sony that’s 10,000-pages long and has billions of microtransactions on it,” Mercuriadis said in an interview at the Reuters Next conference. Mercuriadis said the blockchain, which keeps a ledger of transactions across a network of computers, can bring a new level of transparency to music royalties. Now he is looking at another emerging technology for music: non-fungible tokens, one-of-a-kind digital assets - frequently artwork, photos, videos or digital files - that are traded on the blockchain.
The fund, which went public in 2018, has invested $2.5 billion acquiring the publishing rights to 64,000 compositions from such hitmakers as Timbaland, Fleetwood Mac’s Lindsey Buckingham, The Pretenders’ Chrissie Hynde, Rick James and Neil Young. As a former music manager who once counted Elton John, Beyonce and Guns N’ Roses as clients, Merck Mercuriadis has an eye for talent and a knack for identifying trends.Īs streaming services such as Spotify and Apple Music gained mainstream popularity, Mercuriadis formed the Hipgnosis Songs Fund to acquire music rights.
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