WHAT ARE NFTS IN THE MUSIC INDUSTRY?
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Admin
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41 yorumları 21 konu sayisi Joined: Aug 2021
08-18-2021, 05:46 PM -
#1
Simply put Spotify, Bandcamp, etc. In addition to built-in sell/play markets, you can stream your music as NFT. That's another beauty of NFTs, they can be laid out in many ways and don't have to be entirely owned by one person.

Let's say you are a promising artist and you are about to introduce your brand new album to the world. You can create a custom NFT that completely contains and represents your album and thus becomes a collector's item. Now, this album can have very special content that only one true owner can get. For example, they can permanently take some of your sales from the album, or they can get a secret song, or they can get exclusive behind-the-scenes access to your shows… You decide what features to include and it's easy to set up (more on that below).

HOW DOES THE ARTIST BENEFIT FROM THIS?
First, on platforms like Raible, Foundation, or OpenSea, you make money by setting up album auctions so your followers can bid on your collection. Imagine if one of your tracks from this album became a hit, and your lucky fan who bought your collection and supported you enjoyed your success and all the benefits that come with that privilege.

You can also earn money from resales by adding a certain percentage to the contract each time your NFT is resold. Let's say your NFT representing your album is a big hit and has been sold for millions of dollars, so the artist can continue to get paid every time these transactions occur.

HOW DOES THE COLLECTOR BENEFIT FROM THIS?
Collectors can support their favorite artists in a bigger, more personal, and direct way, with the disappearance of other services like Patreon and the third party. They also have the potential to become an investor in the arts. In other words, if the artist debuts and becomes popular at an unexpected rate, the value of his collections increases at the same rate. This is becoming an exciting investment opportunity and also a show of support.
HOW TO INSTALL?
Presently it is exceptionally simple to move your music to the blockchain. When you have some Ether (ETH), you can esteem your music in minutes and transform it into a collectible NFT. Ether is the cash utilized for the Ethereum stage.

FIVE STEPS TO REMOVE YOUR NFT ALBUM, SHORTS, OR TRACK
1. The first thing you should do is get a free and secure crypto wallet. This digital wallet is where you can store your Ether, so you can keep it in your wallet when you get paid for your work or convert it to any currency you want like dollars, euros, and Turkish lira when you need money.

2. Once you have your crypto wallet, you can create an account on any open exchange that offers free services to your regions, such as Binance, Gemini, or Kraken, and buy some Ether from there.

3. Once it's fully prepared and bought some Ether, transfer it back to your wallet and that's it. Now you are ready to unchain your music!

4. From there you can navigate to any of the most popular platforms where countless NFTs of all types are sold, such as OpenSea, Foundation, or Rarible, so you can auction off your music work and easily make any conceivable adjustments, including terms, conditions and price.

5. Adhere to the directions on those stages to make the pertinent changes and move your first NFT to the blockchain.

WHY IS THIS IMPORTANT?
Decentralized NFTs represent a better and brighter digital future that the music industry needs. While music streaming platforms and support services work wonders at providing ways to share artists' work globally and provide people around the world with ways to support their favorite artists, these services often fail to deliver an acceptable value return for the art itself.

We must continue to maintain and promote quality work to create a better world for our future ravers, shower singers, subway travelers, and all our listeners around the planet. NFTs are helping to provide a solution to this ongoing problem. NFTs can reorder the value cycle where the illusion created by algorithms on social media and listening platforms outweighs the quality of work done.
whilarla
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1,814 yorumları 0 konu sayisi Joined: Nov 2021
11-05-2021, 04:27 AM -
#2
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Charcothe
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2 yorumları 0 konu sayisi Joined: Nov 2021
11-17-2021, 12:10 AM -
#3
Considering the numerous recent deaths which have occured among freedivers, do you think there is something more or less that those providing training could be doing?


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