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UK-based Caricion to launch a Reggae NFT platform this year

Updated: Jul 25, 2024
Published: May 17, 2021
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London-based Bitcoin wallet company Caricoin is set to launch a nonfungible token (NFT) platform for Reggae artists in the Caribbean before the end of the year.

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Reggae-focused NFT platform to launch by year-end

The music industry has become one of the best markets for nonfungible tokens. Several artists are leveraging NFTs to sell their unique collections. Jamaican reggae artist Bay-C is now set to bring an NFT platform to the Caribbean before the end of the year.

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.

Bay-C encourages artists to embrace NFTs

Several artists, including Eminem and The Weeknd, have launched their NFTs in recent months. However, Bay-C says more artists need to invest in NFTs as they are the future. By adopting NFTs, artists can eliminate the middleman in many industries, allowing creatives to earn more from their work.

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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