NFTs Are Better Than Streaming For Monetizing & Distributing Music

The advent of Music NFTs and the ‘1000 True Fans’ model revealed just how underpaid many musicians are, given how ubiquitous to humanity this art form has become.

Many musicians and artists have begun exploring NFTs as a preferable method to streaming as a means of monetizing and distributing music given that the bulk of current music industry revenue currently goes to major record labels and large streaming platforms.

By granting ardent fans early access to beloved projects and artists, Music NFTs turn fans into early investors as the NFT values compound. The music artists on the other hand earn the liquidity with which to bootstrap their careers.

Music NFTs can also provide participants the opportunity to be part of a token-gated community to which musicians and artists can direct exclusive merchandise, in-person performances, and early access to future projects.

Like early-stage start-up investing, entire careers will be built by hunting down and collecting high-potential music NFTs from upcoming musicians and groups that are likely to grow exponentially. The artiste manager role is also on course to evolve into somewhat of a hybrid between the community manager and start-up investor.

Similar trends are imminent in the gaming sphere where NFTs from popular games are turning into sought-after digital goods with real-world market value.

Many in-game NFTs are also composable across platforms – gamers can migrate from one ecosystem to the next with their priced costumes, in-game weapons, merchandise, characters, and weapons all the while maintaining, even compounding the value of these in-game NFTs. ?

Through DeFi protocols like NFTFi, PWN, and Pawn.fi, gaming, and music NFTs can now be fractionalized, borrowed, and lent out. Participants can put up these digital goods as collateral, turning traditionally illiquid assets into utility assets from which liquidity can be extracted.