HomeTechnology & InnovationAudioSwim heats up ‘Crypto Winter’ with new NFT music track
By Economy Middle East
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August 24, 2022 3:00 pm

AudioSwim heats up ‘Crypto Winter’ with new NFT music track

NFTs set for long-term recovery following current winter of cryptos
AudioSwim
AudioSwim

MENA-based blockchain digital music system AudioSwim released Rym’s ‘Dime Porque’ that features Skales as a Royalty-powered NFT and a standard streaming release. The summer-time Arabic/English track will be one of the first music NFTs released in the region.

The ‘Dime Porque’ NFT remix comes as the market recovers following the ‘Crypto Winter.’ The NFT bubble was always going to burst, but even so, the crash was spectacular as the ‘Crypto Winter’ enveloped the markets. Q1 sales in 2022 dropped by 24 percent from a high of $2 billion this time last year when global lockdowns helped make ‘NFT’ the most searched term in the world. And that crash was mirrored in the crypto world, with Luna imploding and Bitcoin dropping to an 18-month low of roughly $20,000 in June.

But that correction has led to many industry insiders predicting the green shoots of digital recovery already showing in the NFT market. The long-term market is set to be worth $122 billion by 2028 at a CAGR of 34.10 percent while some predict that Bitcoin will hit an all-time high towards the end of the year. 

AudioSwim is a new way of music distribution that taps into the current NFT trends while giving artists and fans an interactive, community-driven platform to share their music. 

And, says Albert Carter, AudioSwim’s founder, and CEO, their technology will create new ways for artists to make money.  

‘We launched AudioSwim to leverage blockchain technology to offer exclusive content, royalty sales, and more. These will create new ways for artists – and fans – to monetize their content,’ says Carter. 

The Dime Porque remix release lets fans support the track by buying royalties. There will be just four royalty-equipped NFTs in total, with prices starting at 5 BNB exclusively on AudioSwim’s platform