As the music industry continues to change and the power keeps shifting towards the independent artists many opportunities are presenting themselves. As it moves fast, it can also get very confusing. NFT’s seem to be one of the hottest and most confusing new things in the scene. I am not going to pretend that I fully understand them either. We went out and found an expert to help explain it all to us and you.
-The following article was written by our new friend Darren Claxton of NFT Tunz.
First off I know many of you are saying, what are NFTs and what do they mean for the music industry?
The non-fungible token (NFT) is sort of like an mp3 file plus a tag that says, “this file is original, limited edition, and can’t be copied.” In other words, NFTs allow digital items to be treated just like an original Picasso painting or a rare Pokémon card. Unlike fungible which means, it’s replaceable by another identical item; mutually interchangeable, for example, Cash. If you’re still having trouble wrapping your head around NFTs, think of a signed vinyl record from your favorite band or artist that you bought back in the 90s before the digital era. The music from that physical album is still available pretty much anywhere, but you’re the only person who has that signed copy! Pretty cool huh.
Let us elaborate further…
You’ve probably heard the terms “Cryptocurrency,” “Blockchain technology” and more recently, “NFTs,” but didn’t think they’d ever have any relevance to you and your career as a musician. This may be the shift we have been waiting for.
We happen to be on the brink of a revolution in how artists and musicians’ content is monetised. NFTs will no doubt be the biggest disruptor to the music industry since the advent of streaming. Big-name artists including Deadmau5, Grimes, Steve Aoki, and Kings of Leon, have already made huge waves in the NFT world this past year. And we’re talking massive waves—DJ/Producer 3LAU sold a record-breaking $12 million worth of music NFTs in February of 2021, and other artists are also making well into the millions of $Dollars$ too!
This is where NFT Tunz comes in!
At NFT Tunz, they are enabling musicians to mint (create) their very own music as an NFT, thus making it a ‘Tokenised’ item that can be bought and sold on the HIVE blockchain. Each NFT will have its own unique code and cannot be altered in any way.
NFT Tunz has been expertly developed with the novice crypto musician in mind and offers a simplistic User Interface to reduce the stress of minting your music quickly and effectively.
Why is this such a big deal? Well, it means that music lovers can now invest in songs, videos, and digital artwork in the same way they would invest in physical art, like an album, poster, or DVD. It opens a whole new marketplace for fans and collectors alike, and an endless world of possibilities for artists.
You will simply be able to create a HIVE account at https://hive.io and then save your all important keys, which are like extra secure passwords. These keys do different things on HIVE and will enable you to move assets in and out of the various places on the Blockchain. Don’t panic, once you learn the basics, you’ll be well on your way to minting your very first NFT. There are plenty of people to help you. And your fans will love it!
NFT Tunz has been expertly developed with the novice crypto musician in mind and offers a simplistic User Interface to reduce the stress of minting your music quickly and effectively.There will be support on hand during office hours and across time-zones if you encounter any teething problems with your profile, crypto or music.
The Future of the Music Industry
We are musicians (check out my music HERE) and music fans ourselves and use the site regularly. Seamless minting, buying, selling and transferring of funds are paramount and we will do our best to make the process as smooth as possible.
One of the most attractive parts of NFT Tunz is that it’s totally free to mint your Music NFT’s in any quantity you so desire. There will be a 10% fee on all sales transactions which will be used for development and marketing by the team to grow the platform.
You will of course own ALL the rights to your music, artwork, and edit as you wish for minting within your profile. Please be aware that when minting an NFT, you will not be able to edit it after it’s on the blockchain so ensure you’re happy with everything from the music to artwork.
Get Started With A Free Hive Account HERE
Visit the NFT Tunz to learn more at https://nfttunz.io
- Article written by Darren Claxton of NFT Tunz