NFT stands for Non Fungible Token which is a concept of asset collectables on the block chain system. An NFT is, in essence, a collectible digital asset, which holds value as a form of cryptocurrency and as a form of art or culture. Much like art is seen as a value-holding investment.
Why are NFT be so valuable?
Collecting non fungible assets can prove its worth in future. It’s as similar to a new start up going public and opening its IPO where people can buy company shares and trade with it. In NFT art, the shares are in the form of collectables (valuable assets like a rare painting from a famous painter or a upcoming potential painter).
Following the same concept, Sonic Harbor in association with singer/songwriter Prem Kotwal have released a Marathi song called Savali which is first ever Marathi song as NFT. Prem has been a known face from his debut in singing reality show The Voice and Saregama 2018. He has also been a music director for a Marathi film called “Rahasya”.
Prem will be releasing his 150 original compositions under the title “Project 150 — Songs from my room” within a span gf 3 years. Savali is the first original composition of the 150 songs list. Savali is a special song as it was the last recording of our beloved flute player Sagar Salunkhe who was a victim to COVID 19. We want this song as a tribute to him and his marvelous work which he contributed in his little musical journey.
We are releasing Savali as an NFT on 9th June as it is the flute player’s birth date. This will be the first ever Marathi song as an NFT from India. This NFT is open for auction sale on rarible.com till 21st June . The NFT holder will be offered life time free pass for any of Prem Kotwal’s shows. The holder will also be the first exclusive listener to Prem’s every single release. 50% of the total generated revenue from the NFT sale will be donated to Sagar Salunkhe’s (flute player) family.
NFT Link —
NFT is a revolution which is coming especially for artists/musicians. This way artists can generate good value for their work also engaging its exclusive audience base. NFT holds smart contracts like royalties, exclusive addons like life time free pass to any show/exhibition of the artist who’s NFT you hold and likewise. Artist needs to explore new avenues for income and not depend only on live shows for their major chunk of income. We at Sonic Harbor inspire artists to navigate smartly in their musical journey says Akshay Chavan, Co-founder Sonic Harbor.