The use of technologies such as NFTs and live streaming has been growing steadily in the music world since the COVID-19 lockdowns.

In 2020, as the pandemic was raging, DJ and electronic music producer Obie Fernandez was forced to put his performance career on hold. With clubs and venues being closed because of lockdown, many artists had to look for new sources of revenue to make ends meet. Fernandez recounts how he knew artists who were “way more famous” than him who started selling their equipment to sustain themselves. He is also familiar with the case of a DJ from Chicago who became homeless because of the pandemic’s effect on his career. In response to this landscape, Fernandez created what would become RCRDSHP, a platform that allows artists to support themselves by selling digital collectibles while sporting the slogan “music is valuable.”

Similarly, Canadian DJ Somna found success as a streamer only after being forced to cancel his tour plans when the pandemic hit. Two years later, live shows are back, but he still live streams three times a week in his Twitch channel SomnaMusic, which has over eleven thousand followers. “I get to talk with people, share my music, and build this artist-fan relationship,” he explains. “It’s something I always knew I was going to keep doing.”

The use of new technologies such as NFTs, live streaming, and blockchain has been growing steadily in the music world since the pandemic, according to a report by the International Music Summit (IMS). Many of the most successful artists to make this leap come from electronic music.

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