UMEK’s upcoming drop is the first of its kind, exploring new methods for artists both independent and managed by major labels to securely manage their bookings. That said, some popular creations remain as coveted as ever.'We’re all painfully aware that live events are returning very slowly, so this could be an opportunity for any artist, big or small, to make sure they have a booking waiting for them once live gigs are back in the picture,” he continued. This may stem from environmental concerns relating to the surprising energy demands of NFT creation, or it could come from skepticism surrounding the Metaverse and the roles NFTs will play in it. However, in 2022, interest in NFTs seems to have fallen a bit. In 2021, demand for notable digital artworks was through the roof as trendy traders tripped over each other to get in on the next new thing. Updated on April 14th, 2022 by Tanner Fox: Much like the ebb and flow of the extremely volatile cryptocurrency market, the value of NFTs can fluctuate greatly depending on public interest. Furthermore, established creatives such as Snoop Dogg and Justin Roiland have recently dabbled in the creation and collection of NFTs.

For instance, as per Crypto Briefing, Canadian singer The Weeknd raised $2 million selling previously unreleased music as NFT tokens priced at $490,000. In 2021, there was a marked increase in investors taking notice of the NFT market., and celebrities and artists have also hopped on the bandwagon. RELATED: 10 Best Reddit Theories About NFTs, The Cryptocurrency Digital Asset Craze Though they're not without fault, NFTs certainly seem to be a bastion for creativity in digital spaces. This object can be a painting, a video, an audio snippet, a video game collectible item, a GIF, or almost anything else. To put it simply, NFTs, or non-fungible tokens, are unique digital objects backed by blockchain technology which ensures that they cannot be replicated or counterfeited.

Spotify plans to nft craze