Are People Seriously Paying Millions for Music?

[Winniew95]

What on earth is a NFT? That was what came to mind when I first saw those letters. After hours of research and reading, I think I know now. I think.

Okay, let’s start with the basics. What is a NFT? It’s a non-fungible token.

I know that doesn’t mean anything to most of us, nor does it make things clearer. Well, “non-fungible” simply means unique and irreplaceable. It’s a term commonly used in the crypto space but is currently working its way to the music industry so musicians and artists can earn from their work—paid using crypto-currency!

Now the “token” is a digital certificate of authenticity and credibility that you own something. This may apply to physical items and digital assets. NFT in the music industry means the musician has digitally signed their published content and holds exclusive rights to it. Think of it as a collector’s item (a rare Pokemon card or a Van Gogh painting) that cannot be copied.

NFTs are a game-changer for up-and-coming artists because it may transform how they get paid. It’s no secret that the average musician can’t make a living from streaming profits online. At this moment, anything is better than the $0.0038 per stream they are getting. Thanks to the rise of the NFTs, fans and musicians are able to do direct transactions.

You may wonder, can’t people just stream their music? Yes, they can. But like any other collectibles, owning an original is special.

Besides, with NFTs your biggest fan can actually show you that they are your biggest fan. They buy your NFT now, hoping that if you make it big in the future, it will be worth much more. Since they have invested, they will do all it takes to promote the artist and help grow their fanbase. Win-win situation!

For those of you who don’t know, musician and producer 3LAU sold an NFT collection for $11.6 million from his three-year-old album, “Ultraviolet.” Similarly, Linkin Park’s Mike Shinoda raised $30,000 via an NFT auction. The Weeknd, Shawn Mendes, and more are all getting in on a slice of the NFT action.

So yes, people seriously pay millions for music!

If you’re looking to dip your toes in the waters of NFT, you sure don’t want to spend thousands of dollars on a song and play it with lousy headphones! You need headphones that deliver excellent audio with a ton of useful features like Life Q35! Listen to your million-dollar music (or your regular Spotify playlists) in peace with the noise-cancelling mode on!

Now to the best bit, if there was ever a Soundcore NFT, what could it be? An exclusive digital drawing of the Liberty Air 2 Pro or something far more exciting? Let us know in the comments!

[Duane_Lester]

You have to get the notes of the start up jingle.

The second could be another nft for a special soundcore app with special controls

May think of a headset after I get to work

[sodojka]

Interesting thread and idea .

1. This could be unique, digital photo (very high resolution with the possibility of print) musical artist cooperating with Soundcore.
   Of course, with your favorite product (headphones or loudspeaker). With dedication to the buyer and an autograph.
2. Token thanks to which
   its owner would receive limited, luxury, collector’s special editions of new Soundcore products.
   The owner would also be entitled to a lifetime free warranty on all Soundcore products .

[Chiquinho]

I will never use, because there is no need for me.
Others will, why not.

[Duane_Lester]

I think I would have a hard time with an exclusive headphone or buds to myself. I think I would have that exclusiveness set to a number of well known community members. (Not random member ids memberw like 1049475 that are popping up in the community the last several months)

[Steve976]

Thanks for sharing. I had never heard of NFT’s before. I guess I’m a dinosaur who has only bought Albums and CD’s.

[Chiquinho]

What would someone do if he owns 1/1000 of a song, nobody will listen to.
Shares are better.

[TheSnarkyOne]

I’ve heard of NFTs, and am perplexed… as digital items, what happens should the computer they are on crash / or goes phhht…

flush goes the money…

[Chiquinho]

Of course your NFT-share will be stored somewhere the documentation of your rights on it.
But who ever knows.

In the very past you got your normal shares on paper.
Often very beautiful printings.
But nowadays?
Nobody knows where this virtual shares are stored.
But I am sure the "system " is safe, not only for the “big players”.
Same is with virtual money like “bitcoins” etc.
Lets talk about precious metals.
I would never trust in those only listed on “paper”.
Real metal is what I trust in.

[sodojka]

@Chiquinho The Polish aristocracy in the old days invested in jewelry and precious metals. When the war came, you could quickly pack your property into a handy suitcase and escape to the border.
Actions are for people with strong nerves. When there is a bull market, you experience euphoria.
Unfortunately, when there is a bear market, you can get really depressed.
I used to have them and I will never go back to it.
Better is a poorer but quiet life .

[Chiquinho]

Hm, we could talk about shares, but this is not the place for.
Let me say two sentences about :
We all know that its getting more and more normal that you will get no more interest
when parking money at a normal bank account.
Often you even have to pay for that “parking” (negative interest)
On the other hand meanwhile we have an enormous inflation rate here in the EU.
What to do?
Shares, but of course the right ones.