Mistakes From Azuki to Candy Digital Merging: Rising Web3 Projects Transform and Amplify Music Creation with AI

The world of Web3 projects has seen some major changes in the past few weeks. Anime-inspired NFT brand Azuki launched a new collection of 20,000 NFT characters, bringing in a huge $38 million with the mint. While the project was initially successful, it quickly became marred by mistakes that led to Azuki’s floor price tanking. At the same time, digital collectibles company Candy Digital merged with Palm NFT studio, while Warner Music Group (WMG) partnered with Polygon Labs to launch a blockchain music accelerator program.

Excitement and Controversy Surrounding Azuki’s Elementals Collection

The new Azuki collection, Elementals, was met with excitement across the digital art community. Azuki had promised to drop 10,000 NFTs to attendees at a Las Vegas event, with the other 10,000 being sold via a Dutch auction with specific mint mechanics. Controversy arose around the originality of the artwork as collectors noticed the new NFTs closely resembled the original Azuki collection. Limited information led to frustrations among collectors, resulting in a sharp decline in the floor price.

Despite the mistakes, the Elementals mint was a success in terms of garnering attention from the NFT market. NFT trading volume surged to a new all-time high of $1 billion, surpassing the usual $700 million mark. Attention grew for Candy Digital and Palm NFT Studio’s merger, as well as Warner Music Group‘s partnership with Polygon Labs.

Candy Digital and Palm Studio Merger Strengthens Licensed NFT Projects

Candy Digital and Palm Studio merged to create a powerhouse studio for licensed NFT projects in various industries. Similarly, the WMG-Polygon Labs partnership focuses specifically on helping onboard the next generation of musicians into Web3. AI tools like Warpsound and Riffusion are changing the music industry, creating and spreading new songs in Web3.

The changing Web3 market has also seen a huge influx of artists and other generative artwork. Vera Molnar, the first female digital artist, is releasing her first and only on-chain generative art project with Sotheby’s. The 500-edition collection reflects her career and the changes in generative art practice with NFTs.

Web3 projects are transforming music creation with AI, evident from Azuki’s mistakes and Candy Digital merging. The music industry’s shift to generative art will bring more exciting NFT projects and developments.

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Kassidy Florette
Kassidy followed her friends to buy her first Bitcoin in 2015, has been participating in various projects since 2019 as a marketing communication lead. Her knowledge and passion brings her in as a contributor.