Power Move? CurrencyWorks Reports Launching Music Entertainment NFT Platform MusicFX and Signing Platinum-Selling Artist Parker McCollum

Photo of Parker McCollum, provided by CurrencyWorks

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Non-fungible token (NFT) sales have reportedly grossed $2.5 billion in the first half of 2021. 

For whatever reason, the idea of spreading art through unalterable digital signatures has captured the attention and imagination of millions of people and billions of dollars, and celebrities are not immune. Former Twitter Inc. TWTR CEO Jack Dorsey sold his own NFT — a screenshot of his first-ever tweet — for $2.9 million early this year. 

NFTs seem to hold a special place in the heart of the music industry, too. Shawn Mendez, Torey Lanez, Snoop Dog, Halsey, Grimes, Steve Aoki, and Eminem are just some of the high-profile artists who have engaged in their own NFT projects. While much of the corporate world remains engaged in blockchain through companies like Snowflake Inc. SNOW and Marathon Digital Holdings Inc. MARA, companies like CurrencyWorks Inc. CWKR CWRK are also reportedly creating new ways for everyone to get involved. 

The full-service blockchain provider reports that it has brought a multitude of community-driven blockchain initiatives to life. CurrencyWorks’ Motoclub project, for example, produced the world’s first dedicated platform for the creation and sale of collectible NFTs based on premier vehicles and memorabilia. The VUELE project, on the other hand, represented the first-ever direct-to-consumer film distribution platform using NFT technology, and the FreedomCoin project created a regulated cryptocurrency powered by BitRail for merchants. 

In a recent announcement, CurrencyWorks indicated that it had partnered with Crown & Ace to launch a new music entertainment NFT platform called MusicFx. 

MusicFx, Crown & Ace, and Parker McCollum

Crown & Ace is a family of entertainment entrepreneurs founded by industry veterans Billie Jo Aasen and Jake Crownover. CurrencyWorks aims to continue its work on NFTs by creating a novel method for artist-fan engagements.

”For the fan, MusicFX will represent the ultimate backstage pass, providing access to exclusive VIP events and experiences, priority tickets, merchandise, and more, all through the security of NFTs,” CurrencyWorks says. “For the artist, MusicFX will provide an unmatchable ability to connect with and reward fans.”

CurrencyWorks has announced that country artist Parker McCollum has become MusicFx’s first artist. McCollum, the singer-songwriter behind the platinum-selling single “Pretty Heart,” recently made his late-night television debut performing on “Jimmy Kimmel Live!” and has just released his latest music video “Falling Apart” from his debut album “Gold Chain Cowboy.”

Working with MusicFX, Parker has helped to create what is believed to be the world's first ever fan club NFT - the Gold Chain Cowboy Club, which launched earlier this month. Membership has been capped at 10,000, with each member receiving a Black Card NFT. To celebrate, the first 1,000 fans who join will receive a special Signature Edition of the Black Card. CurrencyWorks claims that McCollum will also be bringing some amazing money-can’t-buy experiences and content for those lucky fans.

“I’m thrilled to be the first artist to partner with MusicFX,” McCollum said. “Without my amazing fans, I would not be where I am today. MusicFX is really going to allow us to support one another as we continue this incredible journey.”

With the aid of its partners, CurrencyWorks aims to continue to attract big-name artists onto its platform and potentially revolutionize the fan-artist experience. For more details on MusicFX and to sign-up for the MusicFX newsletter, please click here.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.