While Coinbase has been in the news lately due to its upcoming direct listing, its CEO Brian Armstrong is having an impact on the non-fungible token (NFT) sector.
Armstrong is working with DJ David Khanjian to release three songs in the form of NFT. He announced the release on Wednesday, adding that the songs will be available in the coming days as NFT. They will also be available on Zora, a Coinbase Ventures wallet.
All proceeds from the NFT will go to DJ DAVI
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Armstrong called one of the songs “building great things with technology.” He has always been passionate about electronic music. The COVID-19 pandemic also provided him with the opportunity to receive free music lessons from DJ DAVI, as many people also took up hobbies during the period.
“I listened to a lot of electronic music without voices while coding early versions of Coinbase,” Armstrong tweeted. He added that all proceeds from NFT sales will go to the DJ.
1 / Over the next few days I’ll be releasing some electronic music that I created with DJ DAVI (David Khanjian). We’ll be releasing them as NFTs.
– Brian Armstrong (@brian_armstrong) April 7, 2021
The minted tracks offered for sale on NFT were created by DJ DAVI while Armstrong was learning.
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Coinbase recently reported quarterly revenue of $ 1.8 billion
Armstrong NFT’s announcement comes just 24 hours after his company Coinbase released a preliminary financial report for the first quarter of 2021. The crypto exchange reported an estimated $ 1.8 billion in revenue from January to March 31.
Coinbase will go public on April 14 and the exchange’s value has soured since its direct listing was made public. It is now the largest cryptocurrency exchange in the US and is approaching a $ 1 trillion valuation. The popularity of the exchange has grown enormously as many crypto traders see it as the best option for all their crypto needs.