meta-scriptNFTs In Music: Watch The Most Recent Pro>Sessions Installment To Learn About How You Can Use Your Art To Digitally Capitalize | GRAMMY.com

news

NFTs In Music: Watch The Most Recent Pro>Sessions Installment To Learn About How You Can Use Your Art To Digitally Capitalize

The Recording Academy's Pro>Sessions takes a deep dive into the impact of NFTs on the music industry and how independent creators can leverage this technology to generate revenue in its latest installment

GRAMMYs/Jul 13, 2021 - 03:05 am

Last week, the Recording Academy shared its sixth installment of Pro>Sessions, a professional development series that focuses on driving revenue in today's digital economy. The episode explored NFTs, arguably the most talked-about digital trend on the market right now, and what opportunities for profit exist in the music landscape. What's an NFT? NFT stands for non-fungible token and these tokens are unique, one-of-a-kind digital files of items like drawings and music. The bulk of NFTs are part of the cryptocurrency Ethereum blockchain, and musicians such as 3LAU and Grimes are raking in hundreds of thousands, if not millions of dollars from the tokenized release of some of their original creations.  

The Recording Academy's Chief Marketing and Innovation Officer Lisa Farris sat down with musician and producer André Anjos, better known as RAC, and recording artist Ryan Paul, aka Wax//Wane, to discuss their experience and current involvement in the digital movement.  

During their conversation, Paul noted his interest in getting in on the trend: "The thing that really caught my excitement with NFTs wasn’t just tokenizing things like music, it was trying to capture that feeling of first opening a pack of magic cards when I was a kid, that thing of trying to collect all of these things and providing a prize for those who jumped in on this journey with us."

NFTs are certainly providing a new avenue for fans to financially support the artists they love, and in turn, receive a digitized rarity. It has also created an unconventional revenue pipeline for musicians. The tricky part is pricing and connecting with potential buyers, and that’s where marketplaces like OneOf and Nifty Gateway have stepped in.  

"Definitely lean into the platforms as a resource for pricing, they know the market pretty well and they will be able to at least give you an estimate or an approximation," Anjos said. "There is a lot of work going into working with collectors. It is really important to establish relationships with your collectors and foster that and they'll give you feedback on pricing too. Get a lot of feedback."

During the second half of the program, Farris continued this compelling discussion from the business perspective with Adam Fell of Quincy Jones Productions, NFT attorney Jacob Martin, and OneOf exec, Joshua James. OneOf is a green NFT platform built specifically for the music vertical.

James shared his passion for the new revenue source: "We are excited that if you are a new artist, and you want to sell $1 NFTs to your first 1,000 fans on Instagram, you can do that. And now three years later when you win a GRAMMY, that $1 NFT is essentially the rookie card and since we can protect the resale royalty, as that NFT trades in value over time, the artist essentially is making money at every transaction along the way."

Check out the full program above to learn more about the role of publishing in NFTs, smart contracts, the future of blockchains, resale values and royalty protections, and the potential pitfalls of selling music via NFTs. 

Black Music Collective Podcast: Watch Jimmy Jam & Terry Lewis Discuss Their Legendary Legacy As GRAMMY-Winning Producers

Photo of a gold GRAMMY trophy against a black background with white lights.
GRAMMY Award statue

Photo: Jathan Campbell

list

How Much Is A GRAMMY Worth? 7 Facts To Know About The GRAMMY Award Trophy

Here are seven facts to know about the actual cost and worth of a GRAMMY trophy, presented once a year by the Recording Academy at the GRAMMY Awards.

GRAMMYs/May 1, 2024 - 04:23 pm

Since 1959, the GRAMMY Award has been music’s most coveted honor. Each year at the annual GRAMMY Awards, GRAMMY-winning and -nominated artists are recognized for their musical excellence by their peers. Their lives are forever changed — so are their career trajectories. And when you have questions about the GRAMMYs, we have answers.

Here are seven facts to know about the value of the GRAMMY trophy.

How Much Does A GRAMMY Trophy Cost To Make?

The cost to produce a GRAMMY Award trophy, including labor and materials, is nearly $800. Bob Graves, who cast the original GRAMMY mold inside his garage in 1958, passed on his legacy to John Billings, his neighbor, in 1983. Billings, also known as "The GRAMMY Man," designed the current model in use, which debuted in 1991.

How Long Does It Take To Make A GRAMMY Trophy?

Billings and his crew work on making GRAMMY trophies throughout the year. Each GRAMMY is handmade, and each GRAMMY Award trophy takes 15 hours to produce. 

Where Are The GRAMMY Trophies Made?

While Los Angeles is the headquarters of the Recording Academy and the GRAMMYs, and regularly the home of the annual GRAMMY Awards, GRAMMY trophies are produced at Billings Artworks in Ridgway, Colorado, about 800 miles away from L.A.

Is The GRAMMY Award Made Of Real Gold?

GRAMMY Awards are made of a trademarked alloy called "Grammium" — a secret zinc alloy — and are plated with 24-karat gold.

How Many GRAMMY Trophies Are Made Per Year?

Approximately 600-800 GRAMMY Award trophies are produced per year. This includes both GRAMMY Awards and Latin GRAMMY Awards for the two Academies; the number of GRAMMYs manufactured each year always depends on the number of winners and Categories we award across both award shows.

Fun fact: The two GRAMMY trophies have different-colored bases. The GRAMMY Award has a black base, while the Latin GRAMMY Award has a burgundy base.

Photos: Gabriel Bouys/AFP via Getty Images; Frederick M. Brown/Getty Images

How Much Does A GRAMMY Weigh?

The GRAMMY trophy weighs approximately 5 pounds. The trophy's height is 9-and-a-half inches. The trophy's width is nearly 6 inches by 6 inches.

What Is The True Value Of A GRAMMY?

Winning a GRAMMY, and even just being nominated for a GRAMMY, has an immeasurable positive impact on the nominated and winning artists. It opens up new career avenues, builds global awareness of artists, and ultimately solidifies a creator’s place in history. Since the GRAMMY Award is the only peer-voted award in music, this means artists are recognized, awarded and celebrated by those in their fields and industries, ultimately making the value of a GRAMMY truly priceless and immeasurable.

In an interview featured in the 2024 GRAMMYs program book, two-time GRAMMY winner Lauren Daigle spoke of the value and impact of a GRAMMY Award. "Time has passed since I got my [first] GRAMMYs, but the rooms that I am now able to sit in, with some of the most incredible writers, producers and performers on the planet, is truly the greatest gift of all." 

"Once you have that credential, it's a different certification. It definitely holds weight," two-time GRAMMY winner Tariq "Black Thought" Trotter of the Roots added. "It's a huge stamp as far as branding, businesswise, achievement-wise and in every regard. What the GRAMMY means to people, fans and artists is ever-evolving." 

As Billboard explains, artists will often see significant boosts in album sales and streaming numbers after winning a GRAMMY or performing on the GRAMMY stage. This is known as the "GRAMMY Effect," an industry phenomenon in which a GRAMMY accolade directly influences the music biz and the wider popular culture. 

For new artists in particular, the "GRAMMY Effect" has immensely helped rising creators reach new professional heights. Samara Joy, who won the GRAMMY for Best New Artist at the 2023 GRAMMYs, saw a 989% boost in sales and a 670% increase in on-demand streams for her album Linger Awhile, which won the GRAMMY for Best Jazz Vocal Album that same night. H.E.R., a former Best New Artist nominee, saw a massive 6,771% increase in song sales for her hit “I Can’t Breathe” on the day it won the GRAMMY for Song Of The Year at the 2021 GRAMMYs, compared to the day before, Rolling Stone reports

Throughout the decades, past Best New Artist winners have continued to dominate the music industry and charts since taking home the GRAMMY gold — and continue to do so to this day. Recently, Best New Artist winners dominated the music industry and charts in 2023: Billie Eilish (2020 winner) sold 2 million equivalent album units, Olivia Rodrigo (2022 winner) sold 2.1 million equivalent album units, and Adele (2009 winner) sold 1.3 million equivalent album units. Elsewhere, past Best New Artist winners have gone on to star in major Hollywood blockbusters (Dua Lipa); headline arena tours and sign major brand deals (Megan Thee Stallion); become LGBTIA+ icons (Sam Smith); and reach multiplatinum status (John Legend).

Most recently, several winners, nominees and performers at the 2024 GRAMMYs saw significant bumps in U.S. streams and sales: Tracy Chapman's classic, GRAMMY-winning single "Fast Car," which she performed alongside Luke Combs, returned to the Billboard Hot 100 chart for the first time since 1988, when the song was originally released, according to Billboard. Fellow icon Joni Mitchell saw her ‘60s classic “Both Sides, Now,” hit the top 10 on the Digital Song Sales chart, Billboard reports.

In addition to financial gains, artists also experience significant professional wins as a result of their GRAMMY accolades. For instance, after she won the GRAMMY for Best Reggae Album for Rapture at the 2020 GRAMMYs, Koffee signed a U.S. record deal; after his first GRAMMYs in 2014, Kendrick Lamar saw a 349% increase in his Instagram following, Billboard reports. 

Visit our interactive GRAMMY Awards Journey page to learn more about the GRAMMY Awards and the voting process behind the annual ceremony.

2024 GRAMMYs: See The Full Winners & Nominees List

Composite graphic with the logo for GRAMMY Go on the left with four photos in a grid on the right, featuring (clockwise from the top-left) CIRKUT, Victoria Monét, Recording Academy CEO Harvey Mason jr., and Janelle Monáe
Clockwise from the top-left: CIRKUT, Victoria Monét, Recording Academy CEO Harvey Mason jr., and Janelle Monáe

Graphic & Photos Courtesy of GRAMMY GO

news

Recording Academy & Coursera Partner To Launch GRAMMY GO Online Learning Initiative

Class is in session. As part of the Recording Academy's ongoing mission to empower music's next generation, GRAMMY Go offers digital content in specializations geared to help music industry professionals grow at every stage of their career.

GRAMMYs/Apr 17, 2024 - 05:01 pm

The Recording Academy has partnered with leading online learning platform Coursera on GRAMMY GO, a new online initiative to offer classes tailored for music creators and industry professionals.

This partnership empowers the next generation of the music community with practical, up-to-the moment digital content that provides wisdom for both emerging and established members of the industry. Continuing the Academy’s ongoing mission to serve all music people, courses cover a variety of specializations tailored to creative and professional growth. 

GRAMMY GO on Coursera includes courses taught by Recording Academy members, featuring GRAMMY winners and nominees and offers real-life lessons learners can put to work right away.

Starting today, enrollment is open for GRAMMY GO’s first Coursera specialization, "Building Your Audience for Music Professionals," taught by Joey Harris, international music/marketing executive and CEO of Joey Harris Inc. The course features Rock & Roll Hall of Fame inductee and five-time GRAMMY winner Jimmy Jam, 10-time GRAMMY nominee Janelle Monáe and three-time GRAMMY winner and the 2024 GRAMMYs Best New Artist Victoria Monét. This foundational specialization will help participants gain the skills, knowledge and confidence to build a strong brand presence and cultivate a devoted audience within the ever-changing music industry. 

The partnership’s second course, launching later this summer, aims to strengthen the technological and audio skills of a music producer. "Music Production: Crafting An Award-Worthy Song" will be taught by Carolyn Malachi, Howard University professor and GRAMMY nominee, and will include appearances by GRAMMY winner CIRKUT, three-time GRAMMY winner Hit-Boy, artist and celebrity vocal coach Stevie Mackey, five-time GRAMMY nominee and Recording Academy CEO Harvey Mason jr., and 15-time GRAMMY winner Judith Sherman. Pre-enrollment for "Music Production: Crafting An Award-Worthy Song" opens today.

"Whether it be through a GRAMMY Museum program, GRAMMY Camp or GRAMMY U, the GRAMMY organization is committed to helping music creators flourish, and the Recording Academy is proud to introduce our newest learning platform, GRAMMY GO, in partnership with Coursera," said Panos A. Panay, President of the Recording Academy. "A creator’s growth path is ongoing and these courses have been crafted to provide learners with the essential tools to grow in their professional and creative journeys."

"We are honored to welcome GRAMMY GO, our first entertainment partner, to the Coursera community," said Marni Baker Stein, Chief Content Officer at Coursera. "With these self-paced online specializations, aspiring music professionals all over the world have an incredible opportunity to learn directly from iconic artists and industry experts. Together with GRAMMY GO, we can empower tomorrow's pioneers of the music industry to explore their passion today."

GRAMMY GO also serves as the music community’s newest digital hub for career pathways and editorial content that provides industry insights for members of the industry; visit go.grammy.com for more. For information and enrollment, please visit the landing pages for "Building Your Audience for Music Professionals" and "Music Production: Crafting An Award-Worthy Song."

Meet 5 GRAMMY Nominees Who Started At GRAMMY U: From Boygenius Engineer Sarah Tudzin To Pentatonix’s Scott Hoying

National Recording Registry Announces Inductees

Photo: Library of Congress

news

National Recording Registry Inducts Music From The Notorious B.I.G., Green Day, Blondie, The Chicks, & More

Recordings by the Cars, Bill Withers, Lily Tomlin, Doug E. Fresh and Slick Rick, and the all-Black 369th U.S. Infantry Band after World War I are also among the 25 selected for induction.

GRAMMYs/Apr 17, 2024 - 12:54 am

As a founding member of the National Recording Preservation Board, the Recording Academy was instrumental in lobbying and getting the board created by Congress. Now, the Library of Congress has added new treasures to the National Recording Registry, preserving masterpieces that have shaped American culture.

The 2024 class not only celebrates modern icons like Green Day’s punk classic Dookie and Biggie Smalls' seminal Ready to Die, but also honors vintage gems like Gene Autry’s "Rudolph, the Red-Nosed Reindeer" and Perry Como’s hits from 1957. These recordings join over 650 titles that constitute the registry — a curated collection housed within the Library’s vast archive of nearly 4 million sound recordings. 

Librarian of Congress Carla Hayden announced these additions as essential pieces of our nation’s audio legacy, each selected for their cultural, historical, or aesthetic importance. This selection process is influenced by public nominations, which hit a record number this year, emphasizing the public's role in preserving audio history.

Read more: Inside Green Day's Intimate "Right Here, Right Now" Global Climate Concert In San Francisco

"The Library of Congress is proud to preserve the sounds of American history and our diverse culture through the National Recording Registry," Hayden said. "We have selected audio treasures worthy of preservation with our partners this year, including a wide range of music from the past 100 years, as well as comedy. We were thrilled to receive a record number of public nominations, and we welcome the public’s input on what we should preserve next."

The latest selections named to the registry span from 1919 to 1998 and range from the recordings of the all-Black 369th U.S. Infantry Band led by James Reese Europe after World War I, to defining sounds of jazz and bluegrass, and iconic recordings from pop, dance, country, rock, rap, Latin and classical music.

"For the past 21 years the National Recording Preservation Board has provided musical expertise, historical perspective and deep knowledge of recorded sound to assist the Librarian in choosing landmark recordings to be inducted into the Library’s National Recording Registry," said Robbin Ahrold, Chair of the National Recording Preservation Board. "The board again this year is pleased to join the Librarian in highlighting influential works in our diverse sound heritage, as well as helping to spread the word on the National Recording Registry through their own social media and streaming media Campaigns."

Tune in to NPR's "1A" for "The Sounds of America" series, featuring interviews with Hayden and selected artists, to hear stories behind this year’s picks. Stay connected to the conversation about the registry via social media and listen to many of the recordings on your favorite streaming service.

For more details on the National Recording Registry and to explore more about the selections, visit The Library of Congress's official National Recording Registry page.

National Recording Registry, 2024 Selections (chronological order)

  1. "Clarinet Marmalade" – Lt. James Reese Europe’s 369th U.S. Infantry Band (1919)

  2. "Kauhavan Polkka" – Viola Turpeinen and John Rosendahl (1928)

  3. Wisconsin Folksong Collection (1937-1946)

  4. "Rose Room" – Benny Goodman Sextet with Charlie Christian (1939)

  5. "Rudolph, the Red-Nosed Reindeer" – Gene Autry (1949)

  6. "Tennessee Waltz" – Patti Page (1950)

  7. "Rocket ‘88’" – Jackie Brenston and His Delta Cats (1951)

  8. "Catch a Falling Star" / "Magic Moments" – Perry Como (1957)

  9. "Chances Are" – Johnny Mathis (1957)

  10. "The Sidewinder" – Lee Morgan (1964)

  11. "Surrealistic Pillow" – Jefferson Airplane (1967)

  12. "Ain’t No Sunshine" – Bill Withers (1971)

  13. "This is a Recording" – Lily Tomlin (1971)

  14. "J.D. Crowe & the New South" – J.D. Crowe & the New South (1975)

  15. "Arrival" – ABBA (1976)

  16. "El Cantante" – Héctor Lavoe (1978)

  17. "The Cars" – The Cars (1978)

  18. "Parallel Lines" – Blondie (1978)

  19. "La-Di-Da-Di" – Doug E. Fresh and Slick Rick (MC Ricky D) (1985)

  20. "Don’t Worry, Be Happy" – Bobby McFerrin (1988)

  21. "Amor Eterno" – Juan Gabriel (1990)

  22. "Pieces of Africa" – Kronos Quartet (1992)

  23. Dookie – Green Day (1994)

  24. Ready to Die – The Notorious B.I.G. (1994)

  25. "Wide Open Spaces" – The Chicks (1998)


21 Albums Turning 50 In 2024: 'Diamond Dogs,' 'Jolene,' 'Natty Dread' & More

The GRAMMY Hall Of Fame returns to celebrate its 50th anniversary with an inaugural gala and concert taking place Tuesday, May 21, at the NOVO Theater in Los Angeles
The GRAMMY Hall Of Fame returns to celebrate its 50th anniversary with an inaugural gala and concert taking place Tuesday, May 21, at the NOVO Theater in Los Angeles

Image courtesy of the GRAMMY Museum

news

The GRAMMY Hall Of Fame Returns To Celebrate 50th Anniversary: Inaugural Gala & Concert Taking Place May 21 In Los Angeles

Following a two-year hiatus, the GRAMMY Hall Of Fame returns to celebrate its 50th anniversary with an inaugural gala and concert on Tuesday, May 21, at the NOVO Theater in Los Angeles. Ten recordings will be newly inducted into the Hall this year.

GRAMMYs/Mar 5, 2024 - 02:00 pm

Following a two-year hiatus, the GRAMMY Museum and Recording Academy are reinstating the GRAMMY Hall Of Fame on its 50th anniversary. The momentous event will be celebrated with an inaugural gala and concert on Tuesday, May 21, at the NOVO Theater in Los Angeles; tickets and performers for the event will be announced at a later date. As part of the return, 10 recordings, including four albums and six singles, will be newly inducted into the GRAMMY Hall Of Fame later this year.

The GRAMMY Hall Of Fame was established by the Recording Academy's National Trustees in 1973 to honor recordings of lasting qualitative or historical significance that are at least 25 years old. Inductees are selected annually by a special member committee of eminent and knowledgeable professionals from all branches of the recording arts with final ratification by the Recording Academy's National Board of Trustees. There are currently 1,152 inducted recordings in the GRAMMY Hall Of Fame. View the full list GRAMMY Hall Of Fame past inductees.

This year, the GRAMMY Museum’s GRAMMY Hall Of Fame Gala will be the first of what will become an annual event, and includes a red carpet and VIP reception on the newly opened Ray Charles Terrace at the GRAMMY Museum, followed by a one-of-a-kind concert at the NOVO Theater in Downtown Los Angeles.

The inaugural gala and concert is produced by longtime executive producer of the GRAMMY Awards, Ken Ehrlich, along with Chantel Sausedo and Ron Basile and will feature musical direction by globally renowned producer and keyboardist Greg Phillinganes. For sponsorship opportunities, reach out to halloffame@grammymuseum.org.

Keep watching this space for more exciting news about the GRAMMY Hall Of Fame!

2024 GRAMMYs: See The Full Winners & Nominees List