Corite, a Stockholm-based fan-powered music platform, announced Tuesday that it will launch the latest project from music producer, Rico Love, whose project expects to launch the sale of exclusive NFTs.
According to the news shared with finance polesLove, who has written and produced tracks for artists such as Beyoncé, Usher, Nellie and Trey Songs, will join Corette in fan-funded campaigns for six rising artists that culminate in six episodes with three songs each. Furthermore, the exclusive NFTs will be put up for sale through Corite’s upcoming blockchain platform, built with ChromaWay.
“One of the most rewarding aspects of my work is empowering young artists. The current recording industry model makes it difficult for many of them to find their way around, and I am excited that Corite sees a new way forward, as fans fund and share the success of the artists they believe in. With my new project, I look forward to Working with exciting new talents, Ariale, Branbaby, Pheli, Rubina, WatchJazzy and WifeyBaby, I can’t wait to share their music with you,” the music producer commented on his project with Corite.
Artists WifeyBaby and BranBaby will release the first six tracks of the Rico Love Presents project on the fan-run music platform founded by Universal Music alumnus Matthias Tingblade and CEO and COO Emil Angervall, respectively, providing services such as global distribution, fan-funded advances, and merchandising. Music Marketing, Playlist Promotion, NFT Creation.
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“The launch of Rico’s project is an exciting step for us. His immense talent for nurturing artists and producing great music makes him an ideal partner in our mission. Matthias Tingblade, CEO of Corite, said, “Having a songwriter and producer for Rico’s caliber work with us inspires fans and generates trust for artists and communities.” that we serve.”
In addition, the company has completed a $2.2 million presale of its original CO2 token.
NFTs and the music industry
In March of this year, artists like Grimes and Beeple made headlines with token drops of millions of dollars. Since then, artists of all levels of fame and success have been jumping in trend left and right.
Moreover, NFTs are starting to appear in the music world. 3LAU and Eminem have sold or announced the sale of music-related NFTs. However, the details of what is actually “owned” when purchasing an NFT is somewhat questionable.