FanDuel, a well-known player in the sports betting industry, has shifted its focus to music NFTs with its new company, Vault.
The company is attempting to rebrand NFTs as "digital music collectibles" (DMC). Vault has received $4 million in funding and has already collaborated with artist Fletcher on a successful series of drops.
Meanwhile, Revelator has added a new feature to its platform that makes it easier for musicians to mint and sell their NFTs and track their royalties.
The company also aims to offer NFT sales in dollars, making them more accessible to fans.
Digital Music Collectibles offer a unique opportunity for fans to collect rare, verified, and limited edition items from their favorite artists. This format provides artists with a new source of revenue and allows music enthusiasts to add a collectible aspect to their fandom. The idea is to present Digital Music Collectibles as a modern version of digital vinyl.