![]() ![]() Is it accurate to say we’re past the experiment-phase with NFTs? Other people think that’s really obnoxious. That’s very expensive, man.” Some people think that’s really cool. It’s going to be like sitting at the restaurant and seeing a guy drive by in a Bugatti. The guy who spent $69 million on the Beeple, you’re going to go on his page and be like, “He’s the only one who’s allowed to have the Beeple in that space on his page.” Imagine the day where you’ve got your designated NFT space to show off your collection, that’s going to matter. The idea that someone can say, “These things over here are for everybody,” but the special thing about this one over here is that it is a one of one and only one person can own it. It’s not going to be like going from paying $9.99 a month and streaming as much music as I want to songs are now worth $100. ![]() I don’t know if at the end of the day that we will establish some new high priced value for songs across the board. Getting back to NFTs, do you feel like this could have a determining effect on that debate about the price and value of a song? With that said, I did have somebody reach out to me and ask, “Do you want to do a management thing, label thing with all these artists under one roof?” And that’s not really where my heart’s at. Nine or 10 of those songs have come out so far. I’ll send them back a mix, master, a cappella, instrumental and stems. If I find one, I will reach out to them and produce their song on my stream on Twitch. I have this campaign where fans use the hashtag “ #ShinodaProduceMe,” and (the artists) put up original songs. I had somebody come to me because I’m on Twitch all the time, producing songs for fans. You sound like you could run your own label. If you’re making music in your apartment, and you have four roommates, you’ve got to look at yourself and the people who are currently listening to music and say, “OK, how do I super-serve those guys? How do I make myself happy as an artist? How do I make them happy as fans? And how do I do it so well that they all tell 100 people each so more people come to the table?” As an artist, you have to ask yourself, “Where does the value lie? Where do your fans want to buy your music and support you?” Somebody just posted the other day, “FYI, I’m still selling physical albums on Bandcamp and making a lot more than my friend who has just put out his song as an NFT.” That’s another version of finding the value. Second, NFTs aren’t the only way to do it. Show me you can be creative and create a universe-an entire experience around your art that is consistent with the universe of your art. You’ve gotta impress the audience with more than that. What I’d say to those artists is: Number one, don’t be the artist that just goes in for a cash grab and assumes that because you release an album as an NFT that it’s automatically worth more. As an artist, if you grew up in that, you’re like, “Oh, that’s better than free. We’re gonna go pay these guys first, because their music gets streamed a lot, and then eventually we’ll work our way down to you.” Then, you’ll get your check for $3 because your thing streamed like 3 million times. Artists who, for example, write and produce a song, release that song, then Spotify tells them, “This is worth portions of pennies per stream. That’s not just coming from people who listen to it. We just swap it.įast-forward to now, and we’ve spent all of this time with the idea that music has no value. Then, it went from that to the mp3, which is like, “Why would anybody pay for this?” It’s free. Finally, someone would sign them and say, “Play your music in the studio, and we’ll record it, and we’ll sell that recording to people.” The idea of having one of those records-where you heard this band play at this club, and now, you can take it home and listen to it over and over-that was wonderful, special and unique. The idea of making a record started with a band was performing all this new music live, onstage. If you look back to, let’s say, the ‘60s and ‘70s, music was much more of an experience first. The NFT auction model actually doesn’t (go against that idea). ![]()
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