Blockchain Music App ‘Single’ Announces Collaboration with Shopify, Normalization of NFTs for Creators

By Christos Makridis

Creatives, from artists to musicians to podcasters, have enjoyed a renaissance over the past decade with the rise of social media and other digital tools. But aside from the ones that go viral, making a living as a creative isn’t easy—until now.

Non-fungible tokens (NFTs) have given advertisers a way to connect directly with their fans, reducing their reliance on intermediaries. For first time everadvertisers can now sell NFTs on Shopify – one of the largest digital e-commerce platforms – through Singlea Solana blockchain, music and video company.

NFTs rose prominently in 2021 with $40 billion in sales and surpassed that with $42 billion in 2022 despite the “crypto winter.” according to analysis of chain analysis.

Many creators, from musicians to YouTube influencers, often create merchandise as a way to build community. But managing inventory and obtaining supplies is a full-time job on its own. Since 2006, Shopify has served as a pillar of the creative economy, allowing them to connect their fans with goods without taking on the burden of all the logistics that come with the territory.

“More than 50 million individuals worldwide are creators online, and more than two million of those people use their creativity for a full-time living, but it’s still a massively fragmented ecosystem when you look at the tools available to creatives, artists and musicians to reach fans with their art and make a living at the same time,” said Tommy Stalknecht, founder and CEO of Single.

The release of tokenizing content and commerce on the Single app allows creators to upload any file to the Single Platform and create it as an NFT on the Solana blockchain, which immediately appears in their Shopify storefront for purchase alongside traditional items. “It shouldn’t be any harder for someone to collect digital goods than it is physical, so we want to make sure people can buy NFTs just as easily, creating immediate value for fans,” Stalknecht said.

“Tokenized commerce gives creators the opportunity to engage with their true fans by unlocking unique commerce experiences via NFTs. Shopify views NFTs as tools for community building and engagement. The launch of Singles’ new artist- and creator-focused features in Shopify- their app helps more merchants unlock new and engaging trading experiences” so Chevy Walcott, Business Development Manager at Shopify. “Our investment in Single and our growing blockchain ecosystem demonstrates our commitment to further increase participation in Web 3.0 and expand commerce opportunities for creatives, artists and musicians,” Walcott said.

Web3 natives often refer to NFTs as having “utility” or benefits apart from the intrinsic value of the NFT. But creators have had limited tools to benefit, making it difficult to take full advantage of the Web3 economy. The announcement from Single is a game-changer. Now, a musician who creates a music NFT and sells it to fans not only creates immediate value (ie the music) but also additional benefits, such as benefits on store items.

Other Web3 companies are also leading the way in strengthening the creative economy. Audius offers artists the opportunity to monetize their streams. And unlike Spotify and traditional streaming services, artists keep 90% of the revenue they earn and receive rewards from the $AUDIO token.

“Direct engagement and commerce between artists and their fans, and the significant revenue this can generate, is driving the music business as we know it today,” said Roneil Rumburg, CEO and co-founder of Audius. “This year, the Audius community is focused on deepening the tools available to artists on the platform to offer new types of paid products and experiences directly to fans,” said Rumburg.

The shift means creators will have a direct way to generate revenue, connect with fans via Web3 technology and increase their own independence.