The new Muse album, “Will Of The People,” will be the first-ever chart-eligible NFT album. The album, which will drop on August 26, is set to enter the UK and Australian charts. This event would make it the first NFT album to chart.
About the Muse NFT album, “Will Of The People”
The NFT version of “Will Of The People” will be available on the NFT marketplace Serenade. Unlike most NFTs, fans interested in buying the new Muse album as an NFT do not have to set up a crypto wallet. This is because once they purchase the album, Serenade automatically creates a digital wallet for them. It is important to note that Serenade refers to the Muse NFT album as a “digital pressing,” which it describes as a limited-edition music format released via NFT technology.
The Muse NFT album, which will be sold at £20 a piece, is limited to 1,000 editions. Fans who manage to get their hands on the digital pressing get a downloadable version of the tunes as high-resolution FLAC files. They also receive a different sleeve and the digital signatures of the three Muse members. Last but not least, the 1,000 holders will have their names permanently listed on the linked buyer list.
“The band have always been at the forefront of technological innovation in their creativity and artistry,” said Sebastian Simone, vice president of audience and strategy at Warner Records UK, in an interview with The Guardian.
Simone also explained that due to its limited number, the NFT version will not skew chart positioning. “If you want to make an impact on the chart, there are definitely ways to do that,” he explained. “With Muse it’s actually not essential as they are [already] on tens of thousands of pre-orders. We anticipate the No 1 spot to be very clear that week.”
As with any other NFT, the holders of the Muse NFT album can resell the NFT on the secondary market. If they do, 15% of the resale price will go straight to the band and their team.
Music charts and NFTs
Last April, the UK Official Charts Company approved NFTs as a chart-eligible format. Indeed, the British band The Amazons were one of the first bands to release an NFT version of the album in the hope of charting. What makes the Muse NFT album special is the fact that there is a great chance that it will actually chart and reach the number one spot.
Martin Talbot, CEO of the Official Charts Company, said: “The UK’s Official Charts have always strived to evolve as music fans change how they buy and consume their favourite music. This is another example of how we have always sought to reflect the pioneering spirit of the music industry and, in particular, the UK scene.”
Therefore, having such a big band show that NFTs can serve as just another release format will undoubtedly have an impact on other artists. Indeed, according to Sebastian Simone, there are similar release plans for other Warner acts. Clearly, the upcoming Muse NFT album has already made history!