Linkin Park's Mike Shinoda explains NFT: It's like buying a print of a piece of artwork

Last week, Linkin Park's Mike Shinoda became the first major-label artist to launch a single via NFT auction. A 75-second clip of 'Happy Endings' was sold in an edition of 10 on the online marketplace Zora (number 10 went for 4 WETH, around $6,600). Shinoda explains to Input: "If you buy an MP3 of a song as an NFT, you don’t own the song. It’s the equivalent of buying a print of a piece of artwork or buying an original piece of artwork... It’s not about the physical item. It’s about the concept of ownership. It’s the concept of what is valuable to a collector". Matty Karas of MusicREDEF has put it quite simply - “You’re basically getting a digitally autographed MP3”.