Brian Armstrong to release electronic-music collection as NFTs

Armstrong to release NFT-based electronic music collection with DJ DAVI.

The head of the Coinbase bitcoin exchange, Brian Armstrong, announced the release of three tracks of electronic music as non-fungible tokens (NFTs). He said the collection involved David Khanjian, known as DJ DAVI.

1/ Over the next few days I’ll be releasing some electronic music that I created with DJ DAVI (David Khanjian). We’ll be releasing them as NFTs.

— Brian Armstrong (@brian_armstrong) April 7, 2021

Armstrong noted that he began writing electronic music as a hobby after the onset of the COVID-19 pandemic, and DJ DAVI had given him free lessons. He pledged that the NFT sale proceeds would be given to Khanjian.

5/ All proceeds from the sale of the NFTs goes to David. The theme of one of the songs is about building great stuff with technology, and never giving up https://t.co/vsMKxwU10J

— Brian Armstrong (@brian_armstrong) April 7, 2021

Three NFT tracks will appear on the Zora marketplace. In April 2021, the project raised $8 million from the sale of shares. Earlier Coinbase Ventures, Trevor McFedris from the Brud startup and a number of other investors backed the platform in a seed round на $2 млн.

Armstrong announced the NFT release after Coinbase published its Q1 2021 financials. The exchange’s revenue stood at $1.8 billion, with net income estimated at $730-$800 million.

Earlier, on March 15, Tesla founder Elon Musk unveiled a techno-track about NFTs as an NFT and pledged to put it up for sale, but later backed out.

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