RE: Not Fully Convinced On NFTs For Music...Yet!

Hi everyone it's @iamdarrenclaxton here from TUNZ (@darrenclaxton account isn't used anymore) Thanks for mentioning us in your post Nicky, I gave you a juicy upvote for that.

If I could chick my 2 pence worth in to this discussion that would be much appreciated?

I totally understand the points you have raised in your post and can see where you're coming from an artists point of view. I was brought on board at TUNZ as a musicians and songwriter to sit on both sides on the fence in relation to use cases in the Music NFT world, and how this will benefit the music community as a whole.

Firstly, as @thelogicaldude states, There is more to what NFT's are supposed to be for than silly little jpeg images. I am really trying to bring focus to that by using the licensing and certificate of authentication kind of stuff.

This in itself answers most of the questions that are on the minds of musicians yet to enter the space. For us at TUNZ, it's all about giving back THE POWER and ONWERSHIP to the artist and to cut out the publisher and label. There's increasing numbers of distributors that offer mainstream services which are paying peanuts for our streams, such as $0.0003 per stream on Spotify etc. I saw some recent streaming figures stating that 99% of streaming royalties are being paid out to 1% of the artists. This actually sounds pretty accurate and frankly, rather depressing reading, but have no fear, because we're here to try and turn music back into an art form, rather than a throwaway product that we send to the charity shop when we have run out of space in the CD and Vinyl rack!

I also totally agree again with my esteemed NFT colleague @thelogicaldude when he states:

People are not legally supposed to redistribute music they purchase from Spotify or Apple Music. You can sue the pants off of them if you catch them doing it. The benefit of making something like a limited release is to bring back the art of it all. Back in the day, before the digital world really destroyed the art of music, you used to purchase CDs which in many cases had some really cool artwork and stuff like that with it. Same with vinyl.

This is why NFTs are changing the way we buy, sell and consume music, and the best is yet to come when people start to trade these assets on the multitude of blockchains out there in the metaverse.

PS. @thelogicaldude I think we can possibly use the HIVE and BSC as a collaborative partnership model in the future, so stay in touch and hit me up in the Discord server

Thanks again for starting this discussion, it's great to meet all of you new people in the space, I've been on HIVE since day 1 and Steemit before that.