So they’re libertarians?
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The “musicians can make more money selling NFTs than by selling their music on spotify” argument made me throw up in my mouth a little.
The image of the future that guy has is not the future I, nor most people want. I dont want every part of my life to be a transaction. It’s basically the 15 million merits black mirror episode.
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Would studies also show that Dogecoin fans are racist, susceptible to conspiracy theories, and perma-banned from SE?
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yeah, the horror of musicians getting paid for their work
Stack Overflow could be a good example of what happens when a forum people participate in for the love of the game turns into a money-making endeavor for the participants.
For a brief moment in time, developers were landing jobs based off their SO score, which changed everything. Posters started racing to be the first answer, quality less important. Gangs started upvoting and downvoting each other’s answers. This led to more rules to keep the system from being gamed, and then rules on top of those rules to keep them from being gamed, and still more rules on top of those, etc.
The net result for the end user was a lot of upvoted crappy answers, and a hostile environment to anyone trying to participate who doesn’t strictly follow the endlessly arcane rules. Even now, in a lot of subjects the best SO answer is often 3rd or 4th, and the 1st and 2nd are either crappy answers, or politely worded RTFM boilerplate.
https://aprilwensel.medium.com/suffering-on-stack-overflow-c46414a34a52
Note: these are the founders writing about the thing they created that morphed into something unpleasant and counterproductive for a lot of users.
Imagine this forum if we got paid by the post, or by the word. Ugh. We’d have to introduce new rules. Only quality posts get monetized. How do we judge that? Well hearts of course. So now it’s a popularity contests/you scratch my back, I’ll scratch yours situation. So you’ll need some new rules to counteract that. Etc. The transaction-everything future is awesome!
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But this isn’t them “being paid for their work.” Yes, spotify sucks! We know this. Being able to make 100k off of an NFT if you’re popular doesn’t solve this problem.
This is basically saying musicians could start an onlyfans.
https://twitter.com/Reuters/status/1514114959785046016
Hollywood stars never get fleeced on these kind of deals. See their many many successful forays into dotcoms and social media ventures.
Yes because a few celebrity early adopters definitely proves that most celebrities don’t show up late to the party and get fleeced.
Do you think we’re still early to the party with crypto?
Spotify not being a good outlet to monetize selling music is a problem! Selling CDs and traditional methods being dead is a problem!
Selling an NFT isn’t a solution to this and never will be. The actual artists hurting now aren’t those who can have a 6 or 7 figure NFT haul, they’re on the bottom line at festivals and probably not the majors. Their shows are $10 at the door.
But the problem isn’t when you get a choice, as you articulate. The problem is when the pendulum swings and your favorite game now has lootbox mechanics and its not skins you have to buy, but the best gun in the game. I think these guys envision a world where the back half of the album is free but the singles are NFTs that cost money or something rather than just “well, if we can get some whale superfans to give artists money that would be cool.”
I just dont see it ending with “if you like someone give them money” like he says with substack. It will permeate in other ways, and they will likely provide a worse user experience in music or games.
I would love to be wrong and that the experience of these things never gets worse and the metaverse is cool and fun for everyone. I just think when the focus is making money before thinking how it effects enjoyment, it is doomed to either fail or make shit worse. I think it is naive to think that the increased monetization of our world will not come with drawbacks to how enjoyable these experiences were before we had to worry about how we could milk more dollars from them.
This is pretty funny in relation to music when “we” (I think you’re slightly older than me Goofy) were growing up and any “Serious” artist couldn’t use their song in a Pepsi ad or whatever because that was “Selling out” and that was the worst crime you could commit as a serious musician.
For both a musician or a video game, step 1 is making a good product.
You have to have good or popular music, or have made it in the past, or make a good/popular video game. Fortnite can be free because people enjoy playing it. This obviously doesn’t work for (insert unpopular video game here).
I also feel like this monetization method has an obvious problem that it can’t work for everyone, the economics just don’t make sense. If you are the most popular, or one of the most popular video games, you can have it be free and charge for skins and emotes or whatever. But only x number of games can be profitable doing this. I obviously have no idea what the number is, but there are only so many players and so many people buying these things.
It’s still tough to compare video games to music though. Music is almost a completely, if not completely passive experience. Video games are not.
Music debate might be the first actually good discussion that’s happened in this thread, congrats guys.
Whales paying a ton for private performances is literally the oldest form of the music business.
So if music NFTs go the way of art NFTs, it should go something like this right?
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Musicians sell some of their music with NFTs.
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Little snippets of slight variations on soundbites become popular with the meme crowd.
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NFT minters pay hired gun musicians a few $k total to make 2,000 soundbites that end up selling for $100k+ each.
Did many of you actually read (or listen to) the interview Chris posted? It’s long so I’m guessing no, but it’s quite good. Dixon’s DNS ownership analogy in particular highlights ways decentralization can work to everyone’s benefit, although there are far too few people who even appreciate the benefits of owning their own domain name (you should own and use your own domain name! It is very affordable and requires almost no effort!).
- NFT minters copy clips or whole tracks from every musician/band out there and sell them. Artists get nothing. GL enforcing copyright.
- There is no 2.
Oh, so there’s nobody selling NFT’s of other people’s art without consulting or compensating them? Glad to hear it.