Music NFTs enable the most direct fan engagement ever : anyone can invest in the songs of their favorite artists and share in the success and revenue from streams, downloads, radio airplay, TV , CDs, live performances, and endorsement deals for the 70-year copyright term of the recording. The investment and animation of the limited edition cover is secured in the form of Music NFTs in the blockchain. NFTs cannot be replaced or copied, which means that if they are traded in the future, all transactions are fully traceable and it is always known who owns what.
One of the noticeable effects of the disruptive power of NFTs will be to increase artists’ incomes above traditional music industry levels. For Tapscott, this confirms his 2016 prediction that blockchain would enable “transformation towards a prosperous future” by:
- Protecting rights with immutable records
- Creating a true sharing economy
- Guaranteeing the remuneration of value creators
Simplicity, security and transparency : these are the cornerstones of Global Rockstar’s Music NFT philosophy. Fans don’t need cryptocurrencies or knowledge. Even the cryptocurrency wallet is provided by Global Rockstar in a user-friendly workflow. It is also not necessary to invest considerable sums: the minimum investment is 5 euros.
As a special launch opportunity, Eurovision Song Contest (ESC) fans can now own a real part of an ESC finalist song, including cover art animation, from a limited edition: “Anyone who visits globalrockstar.com today can purchase Music NFTs of ZOË’s ‘Far From Here’ from the Eurovision Song Contest 2016.
This is not just a exclusive collection, but the recording has also proven to generate stable income over the years and will continue to do so for as long as the Medium ESC and its fans exist,” says Christof Straub. “In addition, we will be re-recording the hit to give it a new boost. Thus, fans who participate will see the profits multiply, since they will participate in the income of all previous releases (including acoustic versions and remixes) and new releases. »
Along with newcomers and up-and-coming musicians, the company is signing new deals with rights holders on major song catalogs and will soon feature regular Music NFTs of global hits on globalrockstar.com.
Finally, in the spring of 2022, another coveted category of Music NFT will go on sale in the form of collectibles, unreleased recordings and special limited-edition releases – like the first demo of a global hit.