Non-Fungible Tokens could be the next big thing in music, and it's the next big venture in a long line of successes for Tribal Trap.
Everyone who loves trap music remembers the early days of Tribal Trap. This innovative record label has been around for years, but has recently been outgrowing even the wildest expectations.
You might have heard of the hottest thing in the art world right now: NFTs. This way of bringing new music to the trap-loving masses gives artists a direct link to the fans that want their piece. Tribal Trap was instrumental in changing the world of trap music at the foundations. Recognized as one of the main channels that pioneered the Trap genre, any producer would be delighted to have a notch on their belt from the outlet. We're here to tell you that Tribal Trap is bigger, better, and louder than ever before... and they say the future of putting music back in the artist's hands lies in NFTs.
Who is Tribal Trap?
Those of you that don't know the story already might learn something from it. Tribal Trap, a dutch Record Label, launched in 2014 off the back of a YouTube channel that had already attracted some 350k subscribers. The channel was run by Stan Wittenberg, a 23-year-old man from The Netherlands, who started the channel out of a love of trap music.
For five years, Tribal Trap gave new artists their start in the scene by giving them a platform that exposed them to the audiences they needed. By 2019, it was decided that they would expand, and they rebranded into Tribal Music Group, a collection of brands and labels. From the outset, the group was going to be an ergonomic new way of making trap music and getting it to the fans.
Over the following two-year period, Tribal Trap acquired several other big named labels and brands in The Netherlands. Companies such as Clout.nu, an experimental label focusing on Asian, Middle Eastern, and ethnic styles, and Diverge Records, a notable underground house label with 50k Spotify followers, have joined them in those few short months, with the most recent acquisition being Trap Music Movement, a youtube channel boasting an impressive 200k followers.
NFT in Music
Tribal Trap Music Group recently announced collaborating with a partner to create non fungible tokens systems that their artists could use. With their high-profile partnership (details yet to be announced in October), this move has raised interest in their operations across the board.
NFTs, or Non-Fungible Tokens, are a sort of cryptocurrency for music artists around the world. This rising trend lets artists sell their content to bidders in the crypto workspace, who would be able to buy things like rare tracks, gig tickets, online content, or private performances, all through a digital transaction that takes place on the blockchain. This effectively changes the business model so prominent in music where a stream is always worth the same. With NFTs, fans and buyers decide what your content is worth, much like with paintings, or with stocks. And like with stocks, if an artist becomes more popular, your digital collectible might rise in value too.
NFTs are proving an exciting alternative to traditional ways of working because they add a completely new revenue stream to be explored by artists by selling exclusive or backstage content to their biggest fans, offer greater security, reduce the need for a middle-man, and it lets your fans access unique content.
Is it the future of the music industry? We don't know. We do know that Tribal Trap is tipped to keep growing exponentially, though, and that's something every OG trap music fan can get behind.