Hindi Rock giant Euphoria is set to launch its latest album Sale in the form of a Non-Fungible Token or NFT. The band will drop the music album with India’s first invite-only NFT Project - Token Runway following which it will be auctioned over a three-day period and will be available for bidders/buyers to own it two days before its public release.
NFT has been gaining ground in India with many Indian artists including music producers and visual artists, who are using the new platform and making big bucks. Earlier this year while Tamil musician Kaber Vasuki sold a demo version of his popular song Vasanam as an NFT for 50 ETH, valued at a record-breaking Rs1.5 crore at the time of sale, visual artist Santanu Hazarika sold a one-of-a-kind artwork in collaboration with musician Ritviz for 300 WazirX Tokens which was approximately $388, in 37 seconds.
Sale is the eigth album by Euphoria, comprising seven songs that will take listeners on a ride across genres, sounds, styles, emotions and life experiences. Written at various points of time in Euphoria founder Palash Sen's career, each song stands for a real-life story witnessed or felt by him and the band.
Talking about the digital move, the singer-songwriter says, "This will widen the outreach of our work to the global blockchain community and we certainly are looking forward to it. As seasoned musicians, we think it is essential for us to be a part of this movement. We come from a time when it was impossible to release an album without a label or a rich dad. NFTs offer a whole new distribution mechanism without affecting the artist's other revenue streams."
The auction started on September 9 and will culminate on September 12, subsequent to which, the album will be released on September 14.