Environmental_Fly691 t1_j1a49pa wrote

Your comment shows that you really do not speak with knowledge of the subject you have discussed. Blockchain has made it possible to attriubute ownership to digital items, it allows for example the creation of digital state currencies (in the process of creation). The consensus of a network allows to secure data in an immutable way, with how interesting it is that you can verify data digitally with the certainty that they are not manipulated in any way.

The entities that are investing the most in blockchain are not the native companies of the sector, they are Alphabet, Samsung, Black Rock, Goldman Sachs...while you sentence to death this "insignificant" technology, those who understand the advantages of blockchain are contracting what you will use in the future.

This is not a debate about whether blockchain will be widely used, it is already being used and its use will continue to expand in the future.

I didn't come here to debate blockchain, I respect that you have your vision, but the only thing I came here to show is that there is a NFT music sector and that it is a way for artists to monetize their work.

There is no more, using NFTs to unlock music, events, holding dynamics...it is a simple application of technology that can help the industry. There is no scams, no money stealing, no false promises, just your work distributed through NFTs that your fans want to buy to support you in the most direct way possible.


Environmental_Fly691 t1_j1a17k8 wrote

I am the first to be annoyed by the amount of bullshit in the sector. I completely agree that regulation is necessary, in fact there are quite a few investigations being carried out on companies like Yuga and regulations are being made regarding the uses of NFTs and scams that have been going on over the last couple of years.

But all this does not detract from the fact that there is a serious sector that seeks to provide a safe and secure service to musicians to help them position themselves in the best possible way to expand their art.

What I see interacting with Reddit is that NFTs have a very bad reputation with the general public. I understand that everything the general public has seen of NFTs is rubbish, but I don't think the existence of people with dishonest intentions should cover up all the possibilities it opens up for different professions.

Anyway, after seeing the revulsion towards this kind of content, I will not post anything more about NFTs in the community.

I'm sorry to have disturbed some members, but my intention was simply to start a debate on a topic that I think is interesting for Music.


Environmental_Fly691 t1_j19ge36 wrote

At no time of using the NFTs that create artist as a form of investment, you should not make this type of purchase with the intention of monetizing the money spent, it would not make sense to do something like that.

There are companies that are approaching artists to help them monetize their music in a fairer way, I do not know if it will work or not, if in 20 years it will still be used, but it is something that seems interesting to me and it is worth to continue talking about the different options that exist.

I'm not saying this to spam my substack, but in it I have published this same article accompanied by a timeline of a program in which two artists who monetize their content through NFTs have been interviewed. It tells the dynamics they do to interact with their community, the concerts they have done, how their fans are, the music drops they perform...it's quite interesting to know.


Environmental_Fly691 t1_j19fct6 wrote

In this post we have not been able to get pictures, but in substack's post we have a graph showing how the money generated by digital content is distributed in a major way.

"If a customer downloads a $9.99 album, the iTunes percentage to artists would likely be a modest $.94 cents - less than a 10% cut. The record company might take $5.35 and Apple would keep the remaining $3.70" from "https://investinganswers.com/articles/who-really-profits-your-itunes-downloads" .

If this is really about helping artists, I'm sure if you do a little more research on the subject, even if you agree/disagree, you'll see the point.


Environmental_Fly691 t1_j19e5ni wrote

I'll say it again, I love writing and I'm very interested in blockchain, I love having my own substack where I write with freedom of opinion about the topics that I find interesting. I have chosen to focus my activity on Nouns DAO because there are very interesting news to talk about every day, I am part of a niche and I love it.

I don't have any Nouns DAO NFTs, I don't sell NFTs of any kind, I don't have any referral links in my post, I just want to make my articles and let those who are interested join the substack.


Environmental_Fly691 t1_j19crg4 wrote

In our substack we have a post in which we talk about the same topic and make a timeline of an interview that took place yesterday to two artists who distribute their songs exclusively through NFTs. I think it would be good for you to listen to the parts that interest you the most and from there you can find other artists on Twitter that are using this strategy.


Environmental_Fly691 t1_j19cbpw wrote

Blockchain is relatively new and there is room for improvement. The aspect of energy being wasted with NFTs is a thing of the past as 99.9% of the energy consumption needed to create NFTs has been reduced.

I will not deny that there are thousands of scams in the NFT sector, but the music sector is not a category where you see too many scams. If you buy music from an artist (through NFTs) you do it to support the artist and have something special from him.

There is very little speculation with the buying and selling of songs, if you are an artist I recommend that you inform yourself about how other artists are doing it to take into account all the possibilities when it comes to monetizing your work. Although this is just my opinion, I understand that it is something that is not made for everyone.


Environmental_Fly691 t1_j199nux wrote

But why do you think it's a scam to market your songs through NFTs? It's a way that hundreds of artists are already getting paid fairly for their work. It has nothing to do with monkeys or anything like that, you buy these NFTs because you like the artist's music and want to support them. I understand that you have a bad image of NFTs, but this is something that benefits the artists.