Music NFTs
So I've been thinking about many things this week and one of them was NFTs with music. I understand there are a couple of websites on Hive like NFT Tunz and Blocktunes where you can make them.
NFT stands for "Non-Fungible Tokens" and are basically a unique copy of something you wish to sell. You can prove ownership of the track or only have a limited number of the copies of something for sale that can't be minted elsewhere.
From what I gather about how NFTs would work for musicians, you'd create a limited number of copies of a track, say 100, and put them up for sale solely for this reason.
Scarcity
However, the hurdle I'm struggling to overcome is if you release your music on to outlets such as Spotify and Apple Music through a distributor, what would the benefit of making a limited number of copies be if someone can just download the track and redistribute it themselves?
I was having a quick chat with 
This then creates that "scarcity" of only being 100 copies available.
You can also release a brand new album or track solely for NFT purposes if you have a big enough fanbase and create a hype around it.
For me, I don't think I've ever sold close to 100 copies of my entire catalogue combined over the last 10 years so probably don't need to worry about scarcity too much 😂
Most Potential?
Where I see the most potential and use case for NFTs are for tickets to events so people can prove their entry and that would then stop illegal ticket re-selling and 3rd party ticket touts scamming punters.
We'll see, I'm not fully convinced yet to mint my own NFTs but to prove ownership, NFTs could be worth doing so your creations are timestamped.
Happy to have an open discussion in the comments about this from fellow musicians, music fans and anyone who has something to say about NFTs!
Let me know
Nicky
P.S. enjoy some drum & bass! The Space Adventure EP tunes are coming along nicely, just a couple more to finish off and will be releasing this one in the next couple of months! Can't wait!