- AVAX’s NFT ecosystem registered growth in the last month.
- A possibility of a trend reversal for the altcoin can’t be ruled out.
Music NFTs gained the attention of many in early 2022 when Snoop Dogg released his collection on sound.xyz. Although music NFTs saw some growth at the end of last year, they have yet to gain traction in 2023.
In this regard, crypto market intelligence platform Messari, recently expounded on the state of music NFTs over the last year.
Music NFTs offer creators an alternative to the take rates seen from traditional platforms.
While Web3 music platforms like @AudiusProject , https://t.co/92WvUy4O2d, and @catalogworks enable musicians to directly monetize their work, they have yet to gain mainstream traction. pic.twitter.com/x5x5BZV4u8
— Messari (@MessariCrypto) February 11, 2023
Interestingly, Avalanche [AVAX] featured NFT artist Mazey Moon in its Artist Spotlight. The artist had her latest collection released in recent times, in which she turned sunsets into music.
“I feel like even though us NFT artists…