Sony’s Blockchain platform Soneium has launched its very first Music NFT collection, with unpublished songs from the Tokyo-based producer NUU $ HI in collaboration with Web3 Label Coop Records.
The collection, organized on Sonova, Soneium’s NFT marketplace, costs 0.000777 ETH ($ 2.11), runs around 124 until the end of the month 999,999 NFTs have been beaten so far.
Soneium, an Ethereum Layer-2 blockchain developed by subsidiary Sony Block Solutions Labs, has positioned itself as a platform for digital content distribution, although adoption remains at an early stage.
In the meantime, Coop Records, founded by Crypto Entrepreneur Cooper Turley, has previously brought more than 600 songs to the chain, working with artists such as Zeds Dead, San Holo and Barry cannot swim.
The label promotes music ownership based on NFT as an alternative to traditional industrial models, despite the fact that Web3 Music Monetusing cannot be achieved by persistent mainstream acceptance.
Music NFTs are confronted with market hindrons
Turley has previously recognized the challenges of maker income in crypto, especially in tokenized ecosystems.
“In principle, it is impossible for makers with a striking to launch a token, and it does not end badly for them in the current market,” he wrote in a Thursday after On X.
He added that best practices for sustainable token-based monetization models do not yet exist and that web3 income expectations for makers are incorrectly aligned with investor behavior.
Although NFTs have been promoted as a way for artists to bypass record labels and retain more control over the turnover, sales are fluctuating.
Music NFTs saw remarkable early successes in 2021, including Kings of Leon’s NFT album release of $ 2 million, but the sector has since had trouble achieving consistent growth in the midst of a broader NFT market.
Sony’s Web3 extension
Sony has expanded his presence in blockchain infrastructure, but the focus of Soneium remains largely experimental.
The platform has officially launched its hill on January 14, 2025, after a four months test network phase that started in August 2024.
During the test period, Soneium said that it registered more than 14 million user accounts and processing 47 million transactions, although the long -term approval remains uncertain.
The company has not yet announced any plans to integrate the platform into its broader entertainment or music business.
Although the NUU $ Hi-drop is part of a planned series of releases on Sonova, it remains unclear whether Sony will scale his involvement in Blockchain-based music distribution.
A Soneium representative did not respond immediately Decrypts Request for comments on those points.