Record Label CEO Launches NFT-Focused Token on Binance Smart Chain

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In Brief
  • Music label CEO and influencer Antz announced the launch of $BAIT today.

  • The coin will be aimed at buying and selling NFTs such as concert tickets.

  • NFT concert tickets will eliminate the growing issue of fake tickets being sold to music fans.

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Anthony “Antz” Robb is an entrepreneur, CEO, influence, and cryptocurrency fan. His passion has grown to the point where he has created his own crypto that is focused on buying and trading non-fungible tokens (NFTs). 

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Antz announced via his Instagram account that BAIT will launch today on the Binance Smart Chain.  

“I’m pleased to announce that Wednesday, May 19, will mark the release of BAIT. BaitCoin will be a cryptocurrency available on the Binance Smart Chain focusing on NFTs. You’ll be able to buy concert tickets, save your favorite moments from an artists’ set with so much more coming. BaitCoin will also have a strong link with charities aiming to better the lives of the less fortunate by collaborating with different charities,” he said.

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Making it impossible to fake tickets

While Antz is no household name, he has been in the social media game for a while now. He originally set up a channel called “I’m Just Bait,” which started as a standard shoutout page with the goal of getting 10,000 followers. As the channel grew, Antz signed a record deal with Sony, who realized his ability to find and work with emerging talent. Now, with almost 400,000 followers, Antz and his team are moving into the cryptocurrency world. 

First, the brand formed a team to launch an NFT that targets the issue of fake second-hand tickets in the music industry. By minting an NFT when a ticket is sold, each one becomes unique using blockchain. Thus, making it nay on impossible to fake tickets. 

The Bait platform, as it is called, is in the testing stages and Antz hopes to bring it to market in the near future. The platform is geared at disrupting the music industry by utilizing the power and creativity of NFTs. Musical artists will be provided a platform to showcase their art.

The project revolves around exclusivity for fans and the ability for artists to create new revenue streams beyond current streaming platforms. Plans for launch include community governance on important decisions such as charity and strategic partnerships.

Music industry’s interest in NFTs

Previously, Grimes sold her tokenized digital art for $6 million. A few of the pieces were short animations set to her unreleased music. Most of the art was still images that fans of the musician eagerly paid out for.

Metal band heavyweights, Megadeth, Avenged Sevenfold, and Slipknot’s Clown are also among the notable active names of the heavy metal industry that have dipped their toes in the NFT market.

Moreover, photographer Jesse Frohman was auctioning off his entire collection of “The Last Session” photos as an NFT, earlier in May. The auction which is titled “The Last Session” featured all 104 images taken by Frohman, including never-before-seen images of the deceased rockstar, Kurt Cobain.

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Matthew De Saro is a journalist and media personality specializing in sports, gambling, and statistics. Before joining BeInCrypto, his work was featured on Fansided, Forbes, and OutKick. With a background in statistical analysis and a love of writing, he takes an outside-the-box approach to reporting news.

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