Fury Beats
Fury Beats
Is anyone here following NFTs and how they could possibly turn the existing streaming models upside down?
Here's a video that describes certain aspects of it.
Here's a video that describes certain aspects of it.
NFTs for Music
- Thread starter Fury Beats
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Fade
The Beat Strangler
Administrator
illest o.g.
Yeah I've been thinking about this ever since that guy sold that art for 70 million lol.
This is going to be interesting when it comes to music, but in a way it's kind of like selling an exclusive beat to someone, no? They own the rights to it. On the other hand, this market will get over-saturated eventually just like everything else.
This is going to be interesting when it comes to music, but in a way it's kind of like selling an exclusive beat to someone, no? They own the rights to it. On the other hand, this market will get over-saturated eventually just like everything else.
thedreampolice
A backwards poet writes inverse.
Working with this right now. It’s wild stuff.
Fury Beats
Fury Beats
Why not ride the wave while you still can and retire for the hills?
Fury Beats
Fury Beats
Not sure yet. I just want to go through the process and learn more. It could be a hobby. I wouldn't really expect to get rich realistically but I think it would be good to at least know how to make one and see what happens as a test. There are sites like OpenSea and Rarible that allow you to make them as music, video and art files ETC...
Fade
The Beat Strangler
Administrator
illest o.g.
I just don't get the appeal or how it differs from selling an exclusive beat. However, if you're talking about other stuff like art, I can see the interest but it's still just digital which to me makes no sense, especially since it's a lot of money being paid for these things.
Fury Beats
Fury Beats
It's based on smart contracts on the Etheream blockchain. The value comes when it's resold and the originator gets whatever percentage they specified over and over again if it goes viral or people start collecting it and reselling it, the value rises so it's very interesting too.
Fury Beats
Fury Beats
What some musicians are doing is merging the art with music by making trading cards and collectibles that are digital with their music. I must say it is a phenomenom and probably a huge bubble just like with anything these days.
Fade
The Beat Strangler
Administrator
illest o.g.
That will be interesting to see where it goes and how much because that guy's digital art went for millions!
Fury Beats
Fury Beats
True indeed.
lofiweekly
Member
I'd love to hear how people are thinking about this, I've been following NFTs for a few months now, and while I think there are some pretty awesome use cases for artists I'm pretty skeptical that 95% of people selling stuff right now are just cashing in on the craze (get it how you can, I can't hate ).
Fury Beats
Fury Beats
Similar to what @Fade was alluding to. The best of the use cases are when something is offered that is unique in value and not sold in multiple places. Definitely Digital (or Digitized Art). It is a new craze for sure. When it comes to these types of things, I am generally one of the earlier adopters. However, as when anything that involves money, it still has risks.
thedreampolice
A backwards poet writes inverse.
Fade
The Beat Strangler
Administrator
illest o.g.
Just about to reply and it's gone!