For better or worse, NFTs are transforming the music business

The Grammy Awards announced this week that a series of nonfungible tokens will be issued to celebrate next year’s awards. The decision is in step with the industry; artists like DJ Steve Aoki and singer-songwriter Zola Jesus turned to NFTs — popular for their scarcity — when touring dried up because of the pandemic. The shift changes how music is valued and monetized. Also on today’s program: a brief history of the debt ceiling; the EPA announces new methane emission limits; and the U.S. and G7 appear to get serious about countering China’s Belt and Road infrastructure initiative.