NFTs will revolutionise the music industry. It puts the power back in the hands of the creator. It removes the middle man and stop them from taking all your revenue. You will have control. 🕹
With Gary Vee’s proposal of when you drop an album you sell the cover art as an NFT to your supporters. You would then code and attach a smart contract to it that will allow the holders to receive 20% of the revenue from the album and you keep the remaining 80%. Instead of the spitting being 20% to you and 80% to the label. Just think about it. 👁
“I had one person buy my song for the amount it would have taken a million streams to get,” says Iman Europe, a singer-songwriter who has made 22.2 Ether (now worth almost $60,000), selling five singles and a music video as NFTs since November. That compares with the roughly $300 a month she was earning from streaming, despite having garnered some 4 million listens across platforms. Nearly 40% of her NFT revenue was made on secondary sales, where she received a 10% cut of each resale
What’s thoughts on this? Do you believe NFTs will change art forever?
