You have no idea what a revolution the music industry is going through. And for that we’re going to talk about the heart of the machine: the artists From rap to techno, we’re going to try to understand what the fuck is going on!!⏬
It all started with @KingsOfLeon the first group to launch an album in NFT that gave access to a unique content followed closely by @torylanez and its 1M NFT album sold in 57 seconds And more recently @3LAU who split an album in 33 NFT, sold 3.6M $
“To get to France where the rapper @booba (US resident, accomplished businessman and 5.6M Twitter followers) announced he would release his next song in NFT. In 2002 he was already rapping “”it’s hot to be independent”” And in fact, nothing has changed…. except NFT. “
Because all this noise is what? a publicity stunt? money for the artists? Well, let’s be honest: yes, in part. But these points are almost incidental to the real subject: THE END OF THE ALL POWER OF THE RECORDS HOUSES IN THE INDUSTRY.
“This financing machine logically wants a return on investment For this reason: it is only interested in the “big sellers” and takes 60-80% of the income generated by the artist “
Let’s not be fooled either: the contribution of record companies goes beyond financing. Network, reputation etc… they can also become real career gas pedals for the lucky ones.
For years, artists have been trying to emancipate themselves and find a new market structure. We think of the emergence of tools like @MyMajorCompany , @WiseBand , @basecamp or @Patreon which have, each in their own way, proposed less greedy intermediation solutions
The minor problem with these tools is their inability to imitate the financial contribution of a record company (lots of money, and quickly). The major problem is that none of them has convinced enough artists to create a transformation of the music market
“NFTs are a game changer. Now anyone can become important on social networks or @SoundCloud and sell NFTs to their audience. An artist can raise money overnight, which is millions of listens on @Spotify “
One thinks of @dominosmusic who gives a simple example. With his 10k followers, he sold 200 albums for a total value of 15.3eth. That’s the equivalent of 14 million Spotify streams.
Another example is @RAC , who sold $708k worth of NFT associated with his latest album. That’s more revenue than all his albums over the LAST 10 YEARS. bloomberg.com/news/articles/…
That’s why the emergence of new generation intermediaries like @pianitynft that allow to generate and distribute music NFTs: – redistributes the industry’s cards – ensures a financial gain for the artist So even if it allows some to eat…
Most of the time it allows artists to reinvest this money in their passion : music. And the paradigm shift is very simple : they become their own record company. (like @booba since 20 years with Tallac Record, 92i records etc)
Finally, we get to chat often with pianity.com/connect?rc=TD and we see how much NFTs also go beyond 💵 for the artists. They feel very connected to the fans and want to make them happy (instrument donation) to federate them (free concert place)!
Finally, yes it is a new type of intermediary between the artist and the public. An intermediary that is built to bring value to the artist instead of taking value away from him. So at @TheDiggers_io we have no doubt that they will succeed better than the others.
Translated with www.DeepL.com/Translator (free version)