Soneium, the Ethereum layer-2 network developed by the electronics giant Sony, has unveiled its first music NFT collection. The collection features exclusive unreleased tracks from Tokyo-based producer NUU$HI. It results from a collaborative effort between Soneium and Coop Records, a Web3 record label founded by Cooper Turley.
Soneium + @cooprecsmusic (by @Cooopahtroopa) = Ownership = web3
In collaboration with Soneium, Coop Records is redefining music monetisation models.
🎵 Explore the NUU$HI Collection: https://t.co/cgVlIEzHJu
🧵 💿 🎶 pic.twitter.com/yzduGg3UAX
— Soneium 💿 (@soneium) February 7, 2025
Soneium Merges Music and NFT
Coop Records has been at the forefront of Web3 music innovation, successfully releasing over 600 songs on-chain and collaborating with renowned artists such as Barry Can’t Swim, Zeds Dead, and San Holo.
The label’s mission to promote NFT-based music ownership as an alternative to traditional industry models aligns with Soneium’s goal of creating a fair and transparent ecosystem for creators. The partnership aims to offer music enthusiasts a unique opportunity to own and experience NUU$HI’s music in a new way.
The NFT collection is now live on Sonova, Soneium’s marketplace. Its price point is 0.000777 ETH (approximately $2.11) per unit. Notably, the collection boasts a substantial total supply of 999,999 NFTs, with less than 1,000 units currently minted.
Sony entered the crypto market by acquiring WhaleFin and rebranding it as S.BLOX Co. Ltd. Since then, Sony has persistently expanded its presence in the sector.
Sony launched its blockchain platform, Soneium, last month after a successful four-month testnet period that began in August 2024. Sony launched Soneium to democratize access to Web3 technology, making it more inclusive and user-friendly for the masses.
The company aimed to challenge the dominant centralized internet paradigm, in which a select few wield significant control over information and economic power.
According to the latest data, the blockchain platform has an impressive 248,000+ registered accounts and nearly 2 million participating addresses.
NFT Market Sees Sustained Growth
Despite critics’ backlash, the NFT market has continued to grow steadily over the years. Various prominent NFT projects have explored diverse channels to boost user engagement. For instance, Azuki, Pudgy Penguins, Magic Eden, Nifty Island, and others recently launched native tokens for their communities.
In other news, Solana Optimistic Network (SOON) generated $22 million in funding after selling its COMMing SOON NFTs to over 3,000 participants.