Music is one of the more bizarre mediums to sell as an NFT. NFTs, or non-fungible tokens, are basically digital versions of a piece of art, gaming material, or other original product; be it a song, painting, or other creative endeavor. A person who buys the NFT holds exclusive ownership over it, making them incredibly intimate and exclusive for buyers and lucrative for artists. Some people buy NFTs for the pure enjoyment of the product; they’re a fan or admirer of the artist.
Why is this such a big deal? Well it means that people can now invest in songs, videos, and digital artwork in the same way they would invest in physical art. It opens up a whole new marketplace for fans and collectors, and a world of possibilities for artists. … Above all else, NFTs have the power to change the relationship between artists and their fans. There’s now the option of a direct transaction between the people who make music and the people who listen to it—there’s no label, distributor, streaming platform, or social media platform involved.”
This creates a special relationship between artist and buyer. While others may listen to the song, only that one fan owns the original; it’s a valuable, unique asset that connects them forever with the artist they’ve patronized. The unique opportunities it presents for both artists and consumers outweighs risks involved. It’s seen as democratizing music – removing the wealthy record executive middlemen and giving the product straight to the people – for a hefty price, of course.
CelebMagTM Isn't most of Muse's music unheard?
CelebMagTM I'm going to sell my turds as NFTs
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