NFT, which stands for non-fungible token, is an acronym that’s been circulating widely across social media recently and has captured the attention of many artists looking to monetize their craft digitally.
The best way to think of NFTs, according to Dyer, is like the Mona Lisa.
For Dyer, he saw releasing 100 exclusive copies of his album as a way to ask people to make an investment in his career.
Normally, I would have to sell them a physical CD, or something, and say if you buy this CD, or you get this T-shirt, you get these perks.
As the value of Ethereum goes up, so would the value of Dyer’s album for anyone who purchased it, not to mention as his popularity grows as an artist, anyone with one of his exclusive albums could resell it for a higher price.