The billion-dollar music industry is undergoing a major transition as artists begin to understand the potential of owning their work through nonfungible tokens (NFTs). Ashanti, the multi-platinum-selling singer, actress and co-founder of EQ Exchange — a women-led Web3 platform — recently shed light on this during a Cotton Candy Records meetup that took place on June 20 in New York.
Speaking on a panel alongside Janice Taylor, founder and CEO of EQ Exchange, Ashanti went into detail about how important ownership is for creators today. Drawing from personal experience, Ashanti said:
“It is incredibly important to continue the narrative that owning is the way to go. Who wants to wake up and pour their heart, blood, sweat and tears into a project and have someone else next to you reap all the benefits while you do all the work? That was the way my contract was set up years ago, but now I have the right 20 years later to go in and re-record and own new masters of my first album.”