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Namewee releases NFT song, earns $900,000 in a day! Claims never to cash out, fights against banks and other intermediaries together

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Namewee releases NFT song, earns $900,000 in a day! Claims never to cash out, fights against banks and other intermediaries together

Malaysian music genius Namewee released a new video last weekend titled "Fighting the World with NFT," emphasizing that the blockchain world makes him feel passionate and he wants to use NFT technology to combat various intermediaries that exploit the interests of the people. In the video, he also announced the release of his new music works in the form of NFT, with trading volume exceeding $1 million within just one day.

Fighting the World with NFTs

In his latest video, Namewee emphasizes his disdain for intermediaries, including banks, streaming platforms, and e-commerce platforms, which often charge fees. Particularly for music creators, even independently produced songs are subject to exploitation. After understanding the technology behind cryptocurrencies and NFTs, Namewee believes that the irreplaceable nature of NFTs can effectively protect the rights of musicians and prove ownership of assets. Additionally, conducting transactions through cryptocurrencies can prevent intermediaries from intervening in transactions.

To uphold his beliefs, Namewee has created a song about NFTs titled "GO NFT" and taken 20 photos with a gesture against major intermediaries, vowing to challenge the existing system. These have been uploaded for sale on OpenSea. Namewee also states in the video that this song will not be available on any streaming platform and that all audio files will be deleted after upload.

NFTs in High Demand

Following this news, fans showed great support, and the items were sold out in less than a day. Subsequently, Namewee uploaded the recently popular song "Fragile" to OpenSea for sale, limited to 100 copies, and it continues to be well-received in the market. These NFTs have already generated $900,000 in revenue for Namewee.

In response to this trend, Namewee promises not to liquidate the income and will continue to challenge the existing banking system, as well as release new NFT songs in the future.

Intermediary Fees in the Blockchain World

While Namewee's intentions are noble, various transactions in the blockchain require payment of miner fees, commonly known as Gas Fees. When trading NFTs on OpenSea, a platform fee of 2.5% is also charged. The emergence of NFTs does provide additional protection for art creators, but it has not yet achieved a completely decentralized environment without any intermediaries.

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