What are NFTS? And can they save independent music?

What does the unfolding NFT craze mean for the future of music—and particularly, for independent artists? To help us make sense of this strange new chapter in the cultural economy, we enlisted Mat Dryhurst, a Berlin-based artist, technologist, and teacher who you’ve probably seen commenting on such brain-bending matters on Twitter—and who co-hosts the fantastic Interdependence podcast with Holly Herndon. He’s been exploring the possibilities of blockchain technology in his work for some time, and is a firm believer that it has the potential to rewire the economics of independent music from the ground up—just not in the way that you might expect, judging from the recent hullabaloo.

We spoke to Mat about how NFTs work, how cryptocurrency may represent a potential antidote to streaming's devaluation of musical value, and why the boom-and-bust speculation market we're seeing right now is only just the "GeoCities era" of this technology's potential. 

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