Written by Maurice Cardinal … Part 2 of 3 …
NFT HYPE is DEAD …
LONG LIVE MUSIC NFT!
There’s already an ocean of info about MUSIC NFT on the interwebs–much of it the stuff you hear when people complain about the complexity. Is NFT really that hard? If you want to do it right, yeah. And it gets more difficult every day, but for good reason. NFT CryptoArt is getting better. All of the companies in the image above are already ApeShit Crazy over MUSIC NFT. You should be too.
VISUAL Artists started the digital ball rolling and gave NFT life.
Musoids are about to tweak it to 11 and give NFT soul.
Progressive artists stay a step ahead of the pack and never follow. Everyone had the same opportunity to get in early on VISUAL NFT. Most however were skeptical, and by the time they stumbled into their seats, they missed the surprisingly brilliant opening act, and the massive economic windfall.
Smart professional artists with marketing and promotion experience, did however, during the same period experience million-dollar sales, and as importantly, they staked out their NFT brand and territory. VISUAL NFT legends like Justin Aversano launched QuantumNFT “…the first on chain platform to focus solely on photographers and their work.”
Tragically, most artists in general still haven’t sold even one NFT, but it’s not for lack of trying. There are exceptions of course, but for the most part it’s extremely hard to do without professional expertise and discipline.
Pro artists and OGs also wrote some of the language and NFT culture. For example, artists pushed hard for secondary sales that automatically pay royalties indefinitely–a first for artists. The thread below is now historic.
The same thing is currently occurring with MUSIC NFT–and it’s happening incredibly fast. At this stage though, you have to jump on a train that’s already pulling away from the station and starting to gain speed.
NFT hype has run its course in pro circles, and even with some amateur artists. Serious artists have now settled into a development stage where, even though REAL WORLD applications and music companies are being enhanced by NFT, “investment” is no longer the only focus. Today, non-fungible token has come full circle to cement its place as a powerful tool to develop community and distribute all types of art.
One major strength of NFT at this point is as a promotion and distribution tool for both real world analog physicals and digital virtual art. NFT for example can make it possible for an independent musician to MONETIZE what MP3 started thirty years ago. Musicians are no longer at the mercy of any third party, major labels and promoters included, as long as they are creative and brave enough to stretch a bit and experiment.
In less than a year, VISUAL artists already have substantially improved and created different relationships with galleries, art fairs, and curators. MUSIC NFT is next in line to also change the industry just as radically.
NFT can also be highly political, which folds a very unique PASSIVE PROTEST twist into the mix.
Virtue Signaling however, is not protest, and not helpful if you expect change. Whining about the corrupt power of banks and corporations, as opposed to doing something about it as an ART ACTIVIST, are two very different concepts. Although artists and anonymous investment gurus complain, A LOT, and rightly so about money and banks, absolutely no one at this stage in NFT has picked up the sword to slay the fiat dragon. Most only virtue signal for followers–a new Mortal Sin wedged between Envy and Gluttony.
MUSIC NFT holds profound potential for real activism.
PROTEST & PEACE SONGS can once again have alarming influence and economic value. The cool thing about it is that you don’t have to become a hardcore activist. You just have to use NFT in a manner that enhances your artistic and creative individuality. The cultural heart of the Americas and western perspective lies in the fact that individuality is our coveted default position and the bases for our FREE DEMOCRATIC societies. MUSIC NFT can deliver all the components required to provide that democratic freedom, but only if you grab the ring when it flies by.
NFT = Individuality = Freedom
Sailor Ripley said it best in David Lynch’s Wild at Heart.
Sailor waxes philosophically about a free democracy here …
Aggressive NFT sales geeks unfortunately still try to convince anyone who will listen that NFT is primarily an investment vehicle. They make these claims because it’s how they, and the corporations that covertly pay them, make money $$$. Recently, when the value across all PFPs dropped, self-professed anonymous shitposters, aka sales geeks posing as ART ADVISORS with huge followings, almost immediately started claiming that NFT was never about the art, and that it was always only about the investment. One slippery wrangler who made this backpedaling pitch used to have “ART” in her name. She sheepishly lamented she had to change her Twitter handle to avoid the hate coming at her when skeptical followers started to figure her out.
A dangerous trait of anonymity unfortunately is that you can Rip N’ Rug everyone and then simply change your name when you get busted.
Many of these conARTIST sales pros target special interest groups like women and the LGBTQ community.
A well-known manipulative sales strategy in the corporate world is to galvanize those who feel vulnerable and disenfranchised by shamelessly telling them only what they want to hear–NOT what they NEED to hear in order to make good decisions. Cult leaders do the same thing. NFT shitposters present themselves as passive aggressive saviors and use CLICKBAIT tactics to tweak heartstrings. The irony is that when you follow and interact with these corporate sales experts, it impacts your individuality as an artist. Putting your money, time, and faith into someone who is not fully transparent and identifiable IRL is reckless and says more about your desperation than it does their expertise. KYC everyone at all times.
Just like VISUAL NFT, MUSIC NFT also experienced a BLIP in early 2021. Progressive musicians and DJs generated multi-million-dollar profits and showed the world the power of NFT. After everyone saw the results, late arrivals chaotically scrambled to figure out how to make NFT work in their REAL WORLDS. These rebound projects are just now starting to come online in late 2021, and causing everyone who isn’t yet learning to speak NFT to do a doubletake. FB renaming corporate to META is an eye-opener for NFT skeptics. Sometimes FOMO is organic, and justified. It’s harder to catch up than keep up.
NFT has new rules–I didn’t make them, but I do respect them and the speed. NFT speed dictates that you either get it, and want to become involved, adding value to the art community and your business, or you watch your competitors pull away. This dynamic plays out every day on VISUAL NFT social media.
Community is everything to NFT, and nothing like anything you’ve ever experienced. NFT Community goes way beyond old school Fan Clubs. Until you actually experience it, you won’t fully appreciate the critical role that members play–think of members as volunteers wrapped in a new skin. Volunteers do the heavy promotional lifting for leading artists in a Huck Finn whitewash-the-fence kind of way.
When I said I didn’t make the rules, it’s only partially true. Anyone who gets in early does in fact write new rules specific to how NFT will impact their business. It’s easy to overlook this part, but when you consider that a rule or a process you design becomes accepted by the global NFT community, it gives you an incredible amount of influence over both the short and especially long term. Clout plays out in VISUAL NFT every day, and it’s now starting to happen in music too.
NFT is BOTH a MARATHON as well as a SPRINT
Anyone today on the NFT circuit is making new rules together and setting industry precedent globally.
I developed a unique MUSIC NFT business model for entrepreneurs who have already expressed interest, but who don’t know how to leverage it fast enough to be effective. After being in VISUAL NFT for a few years I envisioned where we might realistically soon be in a year or so when NFT MUSIC gains traction like we saw happen with imagery in 2021. With stats and numbers to provide context and evidence, plus, after considerable research it became clear that independent record labels, artist management, and larger nightclubs are all prime contenders to help write the NFT MUSIC story. Most just don’t know it.
We’ve already seen with VISUAL NFT that if you don’t become involved during the RAMP UP phase it will be incredibly difficult to find the capital and time to catch up. MUSIC NFT is beginning to move faster than VISUAL NFT, and now that NFT has proven itself, MUSIC is in a prime place to capitalize on yesterday’s growth. Today, there is much LESS RISK with MUSIC NFT.
MUSIC NFT allows musicians to monetize the promise MP3 made thirty years ago. Although MP3 is dead due to better codecs and streaming, NFT provides the long-awaited combination that unlocks the safe for Indie Musoids.
Once BIG PLAYERS lock-on to MUSIC NFT, which historically happens rapidly toward the top of the adoption curve, just like in VISUAL NFT, money will buy its way in. If you’re not already in the market, their buy-in will shut you out. You will miss out on the historic financial gains of those who pioneer MUSIC NFT–the SPRINT part of the adoption equation.
When we hit Crossover Production, competition will grow fast.
As a creator, whether musician, producer or label, if you own NFT market share when MUSIC NFT hits its peak, large corporations will be on the hunt to either partner or more likely buy ecosystems like yours outright. It’s already happening in VISUAL NFT. You might not want to sell, which is also fine, but it’s not the point. If you’re already in the MUSIC NFT game, your visibility, credibility, and market value will ROCKET to the MOON during the Crossover Production phase.
Get Rich Quick is not the only reason to get involved in NFT early. Big scores are obviously enticing, but long-term returns are even more impressive. This article from Music Business Worldwide will give you a great overview of a MUSIC NFT business model based on long-term vision.
I listed a few articles below of statistics and specific examples of MUSIC NFT happening in Q4 2021. First, is a link to MUSIC NFT SUPPLEMENTAL PRODUCTS being listed online every day. Each one, and there are already thousands, requires music. While they generate steady average profit, all it takes is for one of them to hit big to return millions overnight. Plus, over the long term, the MUSIC NFT business model incorporates not only HIT songs, but also products like LOOPS that return royalties forever as passive income. The GAMING industry, which has a huge development base, also has a voracious appetite for MUSIC NFT. It’s not a coincidence that GAMIFICATION, an important and a primary NFT community management process, was developed by the gaming industry.
Music Drops – NFT Calendar–this is just ONE calendar, there already are hundreds of lists for supplemental music products with no one collectively supporting the backend yet.
NFT RAISES $30M from investors like SONY MUSIC – record labels are all already heavily investing in preparation for a major MUSIC NFT rollout in 2022.
Our Lady Peace just launched their entire album Spiritual Machines 2 on NFT.
Founders Fund backs a music marketplace planning to sell song rights as NFTs–3lau is one of the most progressive Indie Music DJs to leverage MUSIC NFT. His team is building out rapidly.
NFT Sales Surge to $10.7 billion in Q3 of 2021 as Crypto Asset Frenzy Hits New Highs–current numbers for 2021 including MUSIC NFT
NFTs are a game changer for independent musicians big and small
How to buy MUSIC NFT in 2021–sites like this pop up regularly
One NFT can return several million dollars overnight. This is the SPRINT STUFF I mentioned earlier. If you’ve read what I’ve already published, and clicked the links you’ll be able to explore plenty of documented evidence for yourself.