Whenever we hear the word “invest”, we tend to immediately think of finances. When you invest is music, there are loads of benefits besides just the financial aspects. NFTs unlock investing potential like never before.
Buying an album to support your favourite artist always feels great. You get to hear some awesome music, and feel like you’ve given something back. If you want to enjoy that feeling more frequently, then you should invest in music NFTs!
You may have already heard plenty about music NFTs (if not, check out this article). About how artists can diversify revenue streams and take back control of their art. The innovative ways that NFT technology can be applied to music has created numerous exciting opportunities for artists, both major and independent. Musicians can sell “digital pressings” of albums as NFTs – like Muse – and attach perks to entice fans. They can also get instant chunks of revenue by selling fractional shares of their streaming royalties as NFTs.
It’s not difficult to understand why lots of artists have jumped on the NFT bandwagon. But, why should you invest in music NFTs? Would it be purely out of support? Or, maybe collecting things in itself is the motivator.
We believe there are a few reasons why you, as a music fan, might want to invest in music NFTs.
In some ways, it’s very similar to purchasing a record in order to support an artist. You could buy an NFT version of an album, meaning you still get a digital download to listen to (plus probably a few other perks). The difference is that the revenue generated by you purchasing this album will go directly to the artist. Thanks to smart contracts and blockchain technology, there’s no middle men taking a substantial cut.
By purchasing a music NFT, you’re enabling artists to receive a far bigger payout. This can fund future projects that you will be able to enjoy later on down the line.
Be a Collector
Lots of things that we classically thought of as physical have now moved into the digital realm. For example, rather than receiving a party invitation in the post, we have them land in our email inbox, and don’t bat an eye. Equally, there are less boxes in the attic filled with photographs, and more folders on laptops storing images taken on smartphones.
Collecting things has begun to transition more firmly into a digital space, thanks to NFTs. Of course, people will always collect old stamps or beanie babies, but NFTs have enabled people to collect all sorts of things without taking up any physical room.
Stashing tickets stubs or building a vinyl collection can now be moved onto the blockchain. As a music fan, you can get your hands on NFTs, like albums or digital artwork, start a modern collection unlike any other.
It’s exciting to feel truly part of something. A gang, a club, a clan, whatever you want to call it. Fans can sign up to mailing lists and get exclusive updates and first dibs on things like tickets or new releases. With music NFTs, you can feel even more closely connected with artists you love.
You may be familiar with platforms like Patreon, which allow you to subscribe and get exclusives from creators. Your subscription helps creators to fund future projects and keep their creative endeavours going. NFTs work similarly, except your contributions go right to the artist, with no percentage being taken first by hosting platforms. The difference is pretty much anything can be an NFT, so it isn’t limited to first-look content or the like.
There is still a financial aspect to investing in music NFTs. That’s sort of the beauty of them, actually. You can directly support artists financially whilst benefitting financially yourself as well.
Flex your A&R muscles and place a bet on an exciting new act that you love. Purchase one of their NFTs, enabling them to create more industry-rousing music. Then, when they’ve blown up to near stadium-filler level, sell your now-even-more-valuable NFT. Lots of music NFTs have smart contracts within them that ensure a percentage of secondary sales go back to the original creator. This means that by selling on an NFT, you can earn some dosh, and give even more back to your favourite artist.
This ecosystem rewards both music makers and music lovers. It keeps money flowing between fans and artists in a healthy way that gives each party what they want; the ability to create new music, and the opportunity to hear new music.
Own a Piece of the Action
Depending on the type of NFT, you could own a piece of the music you love when you invest in music NFTs. For example, Fractis offers the option for fans to buy fractional shares of music streaming royalties. In simple terms, you can own a percentage of the revenue generated by a song or record on music streaming platforms.
Being able to say you own a piece of a song is a pretty cool and unique feeling. Whether you use this to brag to your mates, or just quietly enjoy the feeling of being part of something new and exciting, it’s a gift that keeps on giving.
Sign up to Fractis today, and be ready to begin your adventure into music NFT ownership!