Sony's blockchain platform Soneium has launched its first music NFT collection with unreleased tracks from Tokyo-based producer NUU$HI in collaboration with Coop Records. Priced at 0.000777 ETH ($2.11), the collection is available on Sonova, Soneium’s NFT marketplace, until the end of February, with about 124 out of 999,999 NFTs sold so far. Soneium, which operates on an Ethereum Layer-2 blockchain, aims to distribute digital content but has faced early adoption challenges. Coop Records has previously brought over 600 songs on-chain and emphasizes NFT-based music ownership as an alternative to traditional models. However, music NFTs encounter hurdles in creator monetization, with industry leaders acknowledging the difficulties in token launches and revenue expectations. Despite early successes in 2021, the market has struggled to maintain growth. While Soneium has seen considerable user engagement, its future integration into Sony's broader entertainment business remains uncertain.

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