We wrote last month about stealthy music and NFT startup Sound’s plans for ‘web3 artist tools’, but details of its plans areThe sound allows artists to debut new music as a set of NFTs.
More diverse and valuable editions are more valuable than later editions, which means backers are incentivized to discover new music sooner. One NFT allows you to make a public comment. If you sell your NFT, your comment disappears and is replaced by the new owner.
The feature includes the option to upgrade the NFT to a unique edition. It also includes smart contracts with individual contracts. The majority of the income, excluding 10% of resales, is received by artists without relinquishing copyrights. Knowingly cribbing one of Spotify’s famous mission statements in its publicity.
In this case, we want to give a million artists the opportunity to truly live off their art.But the proof will be in whether genuine fans, not just cryptocollectors, see the value in all this. What is the quality of artists Sound is able to attract? The Stuart Dredge