Most Recent: “By Now”
Singer-songwriter, producer and creator of the podcast Anatomy of an Artist, Vérité made history this year as the first musician to auction off to one of her fans a percentage of her master recording rights in perpetuity for her single “By Now.” She’s among the first artists exploring the use of NFTs (non-fungible tokens), a type of cryptocurrency, which is setting a precedent for independent artists to be self-sustaining and find new ways to connect with fans.
“I think since the pandemic, and since I’ve immersed myself in this new world of NFTs and how block chain technology can restructure how we value music, I’ve been excited about experimenting with ways to have fans become a part of the artist ecosystem,” Vérité says. “It’s nerve-wracking, but also fun to be able to share this experience with fans and reinvigorate the value of digital assets, like the mp3, because we’re so conditioned not to value that.”
In an age where streaming services make music widely accessible to the masses but fail to sustainably support independent artists, musicians like Vérité are exploring using NFTs as a mutually beneficial way to bring music to fans, and allow fans to invest in it. “There’s a lot of hype about the money this can make,” she says. “That’s great, but my focus lies on how this can revolutionize and reinvent investment structures so artists are not giving away too much for too little. So I’m looking at this with an exploratory mindset. Some things I try are going to be learning experiences, some are going to be successful.”
Vérité says her future plans include releasing more singles and accompanying visuals. She advises other independent artists to invest as much time in creative problem-solving as they do in creating their art itself. “Creative problem solving is 50 percent of your job as an independent artist, and being able to see obstacles far enough in advance to pivot when you have to,” she says. “You have to learn to see the problems before you hit them.” •