Steve Aoki Has Made More Money With NFTs Than Music

American DJ Steve Aoki has told blockchain music platform Gala Music he made more money on one NFT drop than he did in 10 years of music income combined.

Aoki said music royalties do not pay enough to support artists and praised platforms like Gala for supporting musicians.

Aoki was one of the first big names in the NFT industry. He has always had the belief that the music industry will be revolutionized by NFT platforms.

“If I was to really break down, OK, in the 10 years I’ve been making music… six albums, and you [combine] all those advances, what I did in one drop last year in NFTs, I made more money. And also, I was way more unhinged with music”, he said.

During the interview Aoki discussed his latest NFT collection, Orbs NFTs, which went on sale on Monday.

The Orbs NFT collection has been highly discussed due to the starting price of 11.1 ETH ($34k) per NFT. This high price is due to the type of NFT sale. The price starts high and if no one purchases any, the price will incrementally lower.

Aoki said that 95% of the money he made doing music came from DJ gigs while the royalties from his produced songs only made up 5%.

Aoki believes music NFTs will help new and current artists profit more from the music they create without having to travel around the world constantly.

The next thing lined up for Aoki in the NFT space is a project called Aokiverse. This will be a membership club based on NFTs that promise real world utility. This next step was anticipated by fans due to Aoki’s love for web3 development.

Aoki is not just an NFT creator but is also a big collector. He currently holds many big name NFT collections such as Bored Ape Yacht Club and is working with a new Solana launchpad and NFT marketplace.

Many artists continue to look into combining NFTs and music. The idea of ownership and controlling royalties is something many musicians believe will be the future of the industry.

Recently, singer-songwriter Mike Shinoda also released a collection which was a huge success and sold out within minutes of the start of the sale.

Other artists like BTS attempted to go into NFTs but their audience was quick to push back against the release.

Which artist would you like to see make NFTs and what type of NFTs would you like to see? Let us know on our social media pages!

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Updated: 02/17/2022 — 12:00