Hip-Hop artist LATASHA’s “Culture” NFT drop was a huge success. Music fans and collectors grabbed the 88 editions of her free verse “Joyride” in just minutes. So with two days to go, the collection is completely sold out!
The musician penned a heartfelt and personal backstory for her work. She took a sabbatical after working with a publishing label that was treating her like a slave. LATASHA wrote, “I took some time to heal because I really couldn’t write for months. To help, I decided to ride my bike to clear my head, and one day I envisioned myself rapping a verse on the LA River.” Hence, the title Joyride.
LATASHA: Making Waves in the NFT Music Scene
The collection has pulled in a total tradeable volume of 16.7 ETH ($31,700) as of press time. Interestingly, the 88 items have 84 owners, so the distribution is almost 1:1. The average price for the last seven days is pegged at $2854, while the floor price is at 0.8 ETH or around $2300.
“Culture” is actually the first offering or verse off of Joyride. If you’re curious why LATASHÁ decided to just release a verse instead of an entire song or music video, which is the prevalent practice now. She explained, “I wrote the verse in a nite and immediately knew I didn’t want to add much else to it. I am very lyrical and I am realizing sometimes one verse is enough. Sometimes keeping it simple is all you need.”
LATASHA is actually one of the few musicians wearing a double hat. Aside from being a content creator, she’s also working behind the scenes. In her Twitter bio, she describes herself as an artist, lyricist, collector and head of community programming at NFT Marketplace Zora.
Her previous NFT drops also did well. In fact, curator @jonitzler nominated her “glo.up remix” for “Best Music NFT of 2021” in the RA. The like-to-earn protocol described LATASHÁ as an early pioneer, crypto native and cultural icon. Her recent music video selling for 13 ETH represents the start of true value discovery.
NFT Music Scene
As an entrepreneur, LATASHA is also very vocal on issues hurled against the NFT industry. For example, she took a swipe on those criticizing NFTs for not being a physical item. She argued that this is ironic because those people also thrive thanks to digital commodities like likes and shares.
Furthermore, she defended the industry over environmental concerns. She explained that NFTs only take up 1% of the mainnet. In addition, the space is on its way to being fully green, thanks to the upcoming launch of Ethereum 2.0.
The NFT music scene is one of the leading segments of the industry between specialized platforms and big names releasing their own collections. The huge success and adoption are mainly because NFTs allow artists to be their own distribution channel instead of relying on music labels. In addition, they get to enjoy full monetary benefits because there’s no need to give cuts to intermediaries.