So, one of my real life professional music type friends keeps talking about a new music platform in the works for the SOLANA blockchain that would allow for the sale of music, which can then be re-sold on the secondary market, with a set percentage of every re-sale to go to the artist/artists.
To me, it sounds like some sort of NFT thing but for music-cutting out the "middlemen" like spotify. i don't know much yet, but I wanted to share it with all the hivers(blockchain beef isn't a thing, right? we're all in the same gang right? ok, well maybe i remember reading about some hive blockchain beef somewhere but i don't remember the details😘.....
By name, I was not that familiar with this blockchain, i do see that it is the one that the audius streaming platform was built on, which i do have a page
( https://audius.co/drquinn ). It appears there are also plenty of other dApps built on it, but i'm not going to look into any of that for this post. Feel free to comment if you know anything about that blockchain though and let me know!
Looking at their litepaper,( https://docs.nina.market/litepaper/ ) i can see that they will have a system for the sales of physical media or products through the service as well, which it looks like it would involve burning the record-token?
They also can set up royalty payments, so if you want X% to go to persons Y and Z in the band, or whatever-then this can all be obtained through the blockchain. The files are stored on the Arweave blockchain.
I am curious if this just offers streaming or if it is a format downloadable and playable say, to an app on your phone, as I don't personally really stream music and I'm not sure that I would ever buy a digital object like that-but am always curious for new places to put my music-and of course appreciate the forward thinking ways to help the artists instead of the businessmen predators.
One of the best aspects I thought for this concept, was getting a percentage of future sales. In the NFT market, once you sell your product, someone else could sell it for much more and you wouldn't get any of that. This aims to fix that, with the original creator setting that percentage of the future sale.
I do look forward to these "artist first" services that cut out these huge predatory business practices, at is has long been fact that the music industry treats the artists pretty much like garbage. hopefully we continue to see ideas like this form in all other areas for creators and artists of various disciplines, so that they can monetize their works and be compensated fairly and quickly, as one of the most exciting parts is the ability to get your royalty payments in real-time, much faster then that of the legacy music system, no longer being confined to their way of doing things, waiting for months on end for quarterly payments or whatever.
I'm gonna send a link to one of their recent posts on twitter, if you feel like following there to keep up with any developments/find more information.
...love the comment from the bandcamp employee getting called out for talking about the 'destructiveness of blockchain'🤣
https://mobile.twitter.com/nina_market_/status/1399388388264923142
