Fans have always been eager to prove their loyalty to their favourite artists. With NFTs as we know them crashing, these tokens may well become the modern equivalent of hanging onto concert ticket stubs or buying a vinyl collection.
If you find yourself in the cross-over of people who want to prove their dedication to their favourite creator and are sceptical about NFTs, this one’s for you. The NFT landscape is changing. Now, you can invest in royalties whilst dipping your toe into a new blockchain technology that proves more useful than you first might have thought.
Feeling uncertain about the longevity of NFTs is understandable. Lately, the news around non-fungible tokens hasn’t been wholly positive. In fact, plenty of people have been going as far as to say that NFTs are dying. This is largely reflected by the scarily significant drop in prices of NFTs.
It’s worth noting, it’s NFTs in the form of digital collectibles and artwork that are tanking hardest. Recently, Justin Bieber’s Bored Ape NFT, purchased in January for $1.3 million, has been valued at a likely $70,000.
Jumping into NFTs right now probably doesn’t feel like the smartest move. But, there’s much more to NFTs than just profile pictures and overhyped digital art. Before we talk about using NFTs to invest in music royalties, we’re going to look at how they can be the perfect way to support, and show loyalty, to your favourite musicians.
Proving Loyalty Pre-NFTs
There’s nothing new about being a dedicated fan. It’s exciting feeling part of a club, a clan, a community. The ways in which we show our unwavering support for musicians are varied and ever-developing.
Before digital music streaming changed the scene in 2011, artists relied primarily on revenue from physical sales. If you wanted to show your love for an artist, you’d go out and buy their new record. Not only did you get to listen to the music itself, you channelled financial support, and got a physical collectible to show off.
In the last few years, even with streaming, vinyl records have enjoyed a resurgence of popularity. A love for their decorative element rose up, perhaps due to social media trends. It certainly felt less like a reawakening of audiophiles yearning for the warmth of vinyl, and more like the image-conscious looking to diversify their interior design for “the gram”.
Besides selling records, artists made (and, of course, still do make) revenue through ticket sales. Tours and shows would present an opportunity for fans to hear the music they love in a live setting. As a keepsake, music lovers would stash ticket stubs and wristbands. These serve as a warm reminder of the event, as well as proof that they were indeed there.
Nowadays, the majority of gig-goers will whip out their phones to take photos and video cherished songs. There’s actually a new digital way to preserve concert memories and show you were there when the magic happened.
It’s NFT tickets.
Tickets on the blockchain are a perfect example of NFTs with utility. In other words, doing something real and useful. Using blockchain technology for ticketing, be it sports games or music concerts, is great for a number of reasons.
- Squash ticket touts – smart contracts give more control to organisers, preventing touts buying up and reselling too many tickets.
- Enables fairer pricing – fewer touted tickets keeps prices down and accessible.
- Paints a clearer picture for organisers – promoters know who has the tickets, letting them target marketing and offers more efficiently.
Another bonus of NFT tickets is an ever-lasting ticket stub to keep the memories alive. You can prove irrefutably that you were at a specific event, on a specific date, and never worry about losing your keepsake. Instagram recently announced it’d be enabling the buying and selling of NFTs on-platform. This means you can also proudly display your digital ticket stub for your followers to jealously marvel at.
Buying NFT Albums
An obvious way to support an artist is to buy their music. If you’re a fan who’s looking for something even more rewarding than getting to listen to some new music, you can buy NFT albums.
More and more artists are beginning to release albums and singles as NFTs. Muse became the first group to reach number one in the UK album charts with an NFT release in September. Kings of Leon were the first to release an NFT album in March 2021, and there have been many more since.
The perks of purchasing an NFT album extend beyond bragging rights – if that’s your thing. Normally, you’ll receive access to the music plus some other cool extras. These could include exclusive digital artwork, lifetime tickets to any shows, access to a membership club. The possibilities are pretty limitless.
All this enables you to support artists more directly, since (especially for independent artists) revenue from NFT sales cut out a lot of industry middle men. The money goes to the artist, rather than getting savagely divvied up first.
Invest in Royalties
The thing that independent artists usually need but struggle to come by initially is revenue. They need money to fund their ideas, and realise their vision. Recording equipment and studio time can be expensive. Equally, hiring musicians to help out can become pricey.
A fantastic way you can show your loyalty to an artist is by investing in their music. Specifically, by buying shares of their music streaming royalties. When royalty shares are tokenised, the artist keeps total control of their creations. They choose how much of their royalties they sell, at what price, and what percentage cut they receive when royalties are sold on again.
When you invest in royalties, you get to make a direct difference. You’re also becoming an invaluable part of an artist’s journey and career. You can bet on who you think is going to be a big hit, and closely share in their success with them. It brings a whole new level of togetherness and community. Building an exciting NFT collection of music streaming royalties also means you are part of music industry history.
Fractis has been designed and built with the artists and fans in mind. When you invest in royalties on Fractis, you’re impacting independent artists all across the globe.
You don’t need to be an NFT expert. In fact, you don’t even need to know much about NFTs at all – we’ve made things as simple and easy to use as possible. With just a few clicks, you can own a share of royalties, as well as be part of a revolution!
Sign up to Fractis today, and be first in line to invest in a piece of the action.