NFT in music

NFT in music

“I was waiting my whole life for this, from the very beginning of the Internet! Let that music sea close up in specific accesses. The amount of $9.99 for the entrance for unlimited music is boring! Propositions based on an algorithm, whatever! Surprise me! Has anyone ever come up with the idea ‘knowing your preferences, you would never listen to this, but take some risk and experience something new’. All of a sudden here comes NFT! Finally, I’ll be able to listen again to the music that only ten other enthusiastic friends and I have, with whom we’ll have a fan club!” – this is how Mr. Winyl, our Chief Of Music Dep. tells about NFT.

NFT is limited in quantity

“For some of you, it could be strange. Why limit the amount? If you can have everything, actually you have nothing. The algorithmization of music made the listeners’ preferences unified. The music became flat, schematic, and promoting what was already popular. In the case of NFT, the music returns to its roots, the fans of former bands and genres. Until recently, there was a theory of one thousand true fans. That’s enough in the Web 2.0 world to live off of creativity. Li Jin cuts one zero from that number and proposes the concept of one hundred true fans! How is it possible? ‘Catalog’ platform for minting and selling NFT has about 300  registered artists for a total of more than two million dollars selling. That is, an average of $7000+ per one artist! Did you know that about 95% of streaming artists don’t even make $1000 a year? Do you still have a question about the point of limiting the access? In the end, for the fans, that is also having a sense! Like NFT or vinyl” – suggests Mr. Vinyl. “Over time, it may (note! Not necessarily!) increase in value. But that’s not why we buy NFT to speculate with it but own it! NFT restores ‘an intimate relationship with music, through ownership'”.

NFT and copyrights!

“No! Buying NFT, you don’t purchase the copyrights or any related rights to the track. The law does not allow you to do so for the time being. But you can acquire rights to the royalties derived from your NFT or receive a portion of the shares, which will be recorded properly in the smart contract. While buying NFT, you don’t get the rights for mastering, production, or other rights related to creating the NFT and what it contains. If the NFT isn’t programmed differently, one hundred percent of the revenue will go to the artist or band that branded it (minus gas fee, of course!)”.

NFT MP3!

“After the stage of “kitties”, “monkeys”, “zombies”, etc., crazy but super-popular ideas, there comes a time of relative normalization. After the first boom of NFT’s capabilities, music fans will appreciate the simplicity and uniqueness of NFT. The basic mp3 with the picture that is its cover is enough. The music is always about the music! It doesn’t matter if it is on the vinyl, CD, or NFT format. We are returning to the Winamp times a little bit and the collection on your hard disk. Back then, they were probably pirate collections and in endless quantities. New electronic wallets will increasingly be adapted to store tokens and financial coins, and art and music in the form of NFT. I’m waiting for the moment when I will have the opportunity to open my exceptional NFTs collection in the wallet and to show my collection to someone proudly,” – says Mr. Vinyl, who has been collecting vinyl records for many years!”

NFT for SUPERFANS!

“Superfan is a new term, though it’s nothing new in music fan jargon. That is someone who buys and collects NFT. In the world of social media, Web 2.0 has blurred a little bit. Playlists and the way of music listening make us become algorithm fans. We listen to music always and everywhere because it is nearly free! If it’s so cheap, you are not paying attention to listening to it. We have the habit of not paying attention to the cheap stuff. We consume song after song, with no break, because it doesn’t cost us anything! But those who stopped by and checked it out and got to know it, that’s who the NFT and the superfan nickname is for! It is for them that it may be worth the limitation because, in the end, they are the ones who deserve the reward! And let’s remind the model of 100 true Li Jin fans, that’s really not much!”.

NFT is a community!

“One hundred Superfans is a community, which 90% of artists do not often see at concerts, but one hundred in the whole world? That doesn’t seem like a lot! While minting NFT, there’s no need to sell the for 1 ETH, but guess…it can be given away for free! Attention! No charge does not mean free! If you are an artist or a band, imagine that you are preparing one hundred NFT that you will give away for free, but you do a little trick. You hide a gift in the smart contract that if the Superfans decide to sell this NFT, they get 50% of the profit, and the other 50% goes to the artist! And on top of that, it can mint another bonus NFT, which will still be left in their wallet! That is such a simple example of the social-creative power of the non-fungible tokens”.

Now imagine something different. Do you remember the badges in scouts? Those are what you receive for completing a particular task. Now think about four fans you would like to reward for faithfully attending your concerts! If the ticket is in the form of NFT, and someone buys, e.g., five of them, then they can receive POAP NFT (proof of attendance protocol), which lands on his wallet, and no one else who hasn’t been to five concerts can have one! For the superfan and scout, this is quite a treat!”. 

NFT today!

“That is our reality! However, today we cannot yet implement all these things in Candao, but we are already working on it. NFT generator and the distribution market are our top products for the upcoming time. Nevertheless, our Chief of Music Department, Mr. Vinyl, keeps his hand on the pulse and navigates our musical ship towards the most practical and interesting solutions”. 

“Is limited time before the fat ‘corpo-bobo’ gets here and spoils the fun again! We have 5-10 years to play! It’s a tough game, the entry threshold is high, onboarding it’s terrible, but it’s worth playing because the reward could be much greater than the pain!” – says Mr. Vinyl on his Twitter.

Polish version at www.panwinyl.pl

NFT W MUZYCE! ROZMOWA Z PANEM WINYLEM!

Register in the CANDAO ecosystem! When registering, follow the instructions:

Step 1:

Click the registration link: https://candao.io/?ref=0xee59a331bd2195d4619c1c46b438e94b16b7dc3b&token=CDO

Step 2:

After registering via this link in Candao, visit Mr. Vinyl’s profile here: https://app.candao.io/tokens/user/jz5stqp7mml

After registration, you will receive:

  • 5 Candao Tokens (CDO) – NOTE YOU MUST HAVE A CRYPTO WALLET, WE SUGGEST METAMASK,
  • 10,000 personal tokens (yes, you will already be “tokenized”),
  • Mr. Vinyl’s 100 tokens.

Related post:

Candao for Music Market 3.0