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| Name | How Music NFTs Are Replacing Spotify (Royalties, Revenue Sharing + More) |
| Video Uploader | Video From Jacob Meier |
| Upload Date | This Video Uploaded At 21-08-2022 18:46:56 |
| Video Discription | In this video, KongBoy explains how music NFTs work and why they will improve the industry for artists and fans. Blockchain technology such as crypto and NFTs can make artist royalties easier and more fair. Artists can have a larger share of the generated sales revenue and even earn from secondary sales volume on any marketplace. Platforms like Audios are already allowing artists to take a majority share of earnings. Blockchain music streaming removes many of the middlemen or intermediaries from the process of releasing music through fewer and more simple steps. Music NFTs could even allow for a revenue sharing model between the artists and fans or anyone who wants to bet on the success of an artist. Pay-per-play micropayment models are also possible from this transparency and simplicity. These systems could work across platforms as music NFT properties can be encoded in the smart contract of the token. Crypto music could improve the relationship between musicians and fans by allowing special benefits to be included in a music NFT such as access to an event or an exclusive digital collectible with some utility. NFT music allows for artists of both music and art to collaborate and combine their work to make a single piece of work, audio and visual, that overlaps both fanbases. Blockchain tech for music NFTs is already being used by artists and celebrities including Snoop Dogg who made his first ever album. Decentralized streaming platforms will allow for easy integration of audio NFTs into metaverse for better in-game experiences with things like music tokens. |
| Category | Science & Technology |
| Tags | Kongboy | crypto | nfts | blockchain | ethereum | music nfts | music nft | crypto music | audius | music royalties | artist royalties | music nft royalties | metaverse music | blockchain music | revenue sharing | nft tech | pay-per-play | music tokens | snoop dogg nft | snoop dogg music nft | nft music streaming | nft | song nft | nft songs | audio nfts | audio nft | virtual concerts | nft music |
