Steve Aoki Has Earned More in NFTs than Music in Last 10 Years

It’s safe to say that NFTs have made lots of people rich over the past year or so. However, you may be stunned to hear how profitable NFTs have been. Case in point, legendary JD Steve Aoki recently revealed that he made more money in NFTs than in music advances. This is a stunning statement since he is one of the biggest names in music. So what exactly does it mean for the world of NFTs?

Steve Aoki For those who don’t know, Steve Aoki is regarded as one of the top EDM (electronic dance music) artists in the world. As a DJ, he commands some of the highest rates whether he appears at night clubs or music festivals. Today Aoki is the resident DJ at the OMNIA nightclub at Caesars Palace as well as the Hakkasan Nightclub at the MGM Grand in Las Vegas. Needless to say that Aoki would be doing just fine without investing in NFTs.

Taking Advantage of NFT’s Fast Rise Aoki has been extremely active in the NFT world. In fact, he recently made $888,888.88 in the sale of his Hairy NFT. His first collection of NFTs made him a total of $4 million. Additionally, Aoki is releasing his own line of metaverse focused NFTs known as the Aok1verse. As one of the most popular artists in the EDM world, Aoki has been able to position himself as one of the biggest influencers in the fast rising NFT space.

Creating an Online Social Club Aoki wants to take NFTs to a new and innovative level. With the Aok1verse NFT collection, owners will be able gain a number of benefits including real world and virtual experiences. In fact, Aoki has described his Aok1Verse project as a “tokenized social club.”

History as an Early Adopter Aoki has a history of moving early into new technologies and investment opportunities. During a recent interview Aoki talked about how he was able to invest into Gamestop before it went parabolic with its rise as a meme-stock. Also, Aoki has mentioned that he was able to make a small profit investing in meme coins such as Dogecoin. Even today, Aoki is looking at the future with investments in web 3.0 and metaverse projects.

What This Also Says About the Music Industry Aoki’s claims that he is making more money from NFTs than music advances also says alot about the music industry. It is no surprise that the music industry has not been a great place to make money for musicians. In fact, many musical artists make significantly more money going on tour than they do with music contract advances. However, Aoki thinks that NFTs can change that.

Aoki Believes NFTs Can Give Power Back to Musicians As a music veteran, he understands the financial aspect of the business. Which is why he has a deep interest in NFTs. It is his belief that NFTs can help bring power back to the musician by allowing them to earn lifetime royalties from the resale of music NFTs. Additionally, NFTs are being used by musicians for concert ticket sales and merchandising.

Takeaways from Steve Aoki and the NFTs There is a significant amount of insight that can be gained from Steve Aoki’s incredible success in the NFT world. Here’s a look at three key insights:


1). Artists Will Have a WHole New Revenue Steam

With NFTs, artists such as AOKi will have a new revenue stream that can be a true game changer for them. Consider the fact that NFTs can be used a number of different ways by musicians and there is a potential for artists to make money in a number of different ways. As an example, an artist can sell an NFT that includes concert tickets, a music album and merchandising. Additionally, the artist will be able to gain additional royalties if the NFTs are resold on the secondary market, which is common for concert tickets.

2). NFTs are still evolving

3). NFTs can benefit small and major artists alike

4). The top is not in on the NFT boom

What is Next For Steve Aoki and NFTs As stated before, Aoki will be coming out with his own line of NFTs known as the Aokiverse. Also, it is expected that he will continue to make significant investments in big name NFT projects. It will be interesting to see if his NFT profits will continue to outperform his music advances.



REFERENCE: https://fortune.com/2022/02/15/steve-aoki-nft-music-royalties/


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