
According to a report by the Jamaica Observer earlier today, reggae artist Bay-C has partnered with Caricoin, a London-based Bitcoin wallet company, to develop the NFT platform. The platform will focus on reggae artists in the Caribbean region. "By the end of the year, reggae artists in the Caribbean should have access to a new platform which will help them tap into the cryptocurrency world using nonfungible tokens (NFTs)," the report said.
Bay-C stated that the new platform would allow artists in the industry to quickly develop their NFTs and earn without going through the stress of learning about the cryptocurrency market. "Not everybody wants to understand how the blockchain technology [which powers the cryptocurrency market] works, some just want to get the content out; know that they have this NFT, so we're trying to make it as easy as possible for as many people in the Jamaican and Caribbean creative space," he added.
The artist revealed that he was introduced to NFTs less than two months ago and has already benefited from it. He recently released an NFT as a song that he limited to only seven copies. He sold the first song for 0.1 Ether, a value of about $220 at the time, a day after releasing the NFT. In his statement to The Jamaica Observer, he added that artists should look forward to a really robust solid platform before the end of the year.
NFTs have become popular with several industries in recent months. They have gained adoption in the music, film, sports industries, and the art world.
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