A new frontier for collectibles: Preserving music history in NFTs with Legends of Rock
Talking about nonfungible tokens (NFTs) in the music industry usually means protecting artists’ copyrights and diversifying their revenue streams, preserving artworks on the blockchain, musicians collaborating with brands and artists, printing event tickets, giving exclusive bonuses to fans in this unique digital format or engaging with a community. So, why not do what the sports industry has done (and quite successfully so) with the NFT memorabilia format?
The sports memorabilia market reached $2.6 billion in 2022 and is expected to hit $227.2 billion in 10 years. The collectibles include sports trading cards, video clips of popular moments in the history of sports, autographs, accessories, and many other things that can be in both physical and digital formats. The same can be said for music memorabilia with rare vintage photos that already exist, sometimes only in unknown archives that are hard to access.
This was the case with Legends of Rock, which was acquired by Globe Entertainment and Media back in 2020. The collection, which had been owned by British photo agencies and archives for decades, was then shipped to Las Vegas. Packed in standard postal containers, it looked unlikely to contain anything of high value or importance.
It was a total surprise for Klaus Moeller, CEO of Globe Entertainment and Media, to find some 8 million vintage, never-before-seen photos of the biggest rock stars — Queen, Deep Purple, Elvis Presley, The Beatles, Frank Zappa, The Police, Bruce Springsteen, Nirvana, The Who and many more. The pictures were taken on stage and during other official moments, but also backstage in a more relaxed atmosphere. The photos were made between the 1960s and the early 1980s, with some artists already in the
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