The NFT music marketplace HitPiece promised users the ability to purchase NFTs linked to the back catalogs of some of the world’s most famous musicians when it launched on December 1, 2021. The only problem was that the musicians, including BTS and Taylor Swift, had no idea.
HitPiece, angered by the overwhelmingly negative response, stated on social media, “We have struck a nerve and are very keen to create the ideal experience for music fans.” To be clear, artists are compensated when digital goods are sold on HitPiece. We continue to listen to all user feedback and are committed to developing the product to meet the needs of artists, labels, and fans, as we do with all beta products.”
The site’s content had been removed the following day and replaced with a simple message: “We started the conversation, and we’re listening.” Meanwhile, HitPiece was subjected to a slew of hit pieces that compared the site to Spotify and described it as “an incalculable number of 9/11s” for artists.
HitPiece makes the comeback six months later
Now, six months later, HitPiece is back — and the company wants you to forget what happened in February.
According to site co-founder Rory, the 15-person HitPiece team has signed up about 50 artists for the relaunch, including hip-hop artists ATL Jacob, Lil Gnar, and Lil Gotit, who will create NFT versions of their songs and other content (later acquired by Sony). According to Felton, the company will also announce “tier-one, Grammy-nominated, diamond-level artists in the future.”
HitPiece, which Felton claims received $5 million in seed funding, charges a 10% transaction fee on all NFTs sold through the platform. “Early adopters get access to their own music lounge where you can… share your NFTs in an immersive listening space,” the site explains.