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Is there a way to wrap NFT in DRM? I've been thinking of an possible business idea: Musicians sell digital copies of their music. Users can resell these but 1
by gremlinsinc 6y ago
Is there a way to wrap NFT in DRM?
I've been thinking of an possible business idea:
Musicians sell digital copies of their music. Users can resell these but 10% of sales go back to the musician - lifetime royalties basically.
Users can also "lend" the music ...think stream it like on spotify.
Streamers pay a monthly fee, maybe $10/month.
Every time someone streams something from your library you get a token good for a share of the monthly revenue, every stream = 1 token, or maybe more valuable streams are worth more tokens? Some sort of value based on popularity of song.
Musicians could control how many albums are in circulation thus controlling their residuals to some extent, there'd be algorithms recommending a good amount based on their popularity, requests to stream, sales and second-hand sales, etc...
Basically merging of CDBaby with Spotify and CD Connection (or any second-hand music store).
Maybe there could be a trading function too: Trades are "free" except for a transaction fee split between platform devs and artists, so artists always get something from every trade, sale, stream.
Another feature could be adding in ticket sales... creating one hub to control everything for musical artists...
I'm just not sure how to possibly get started on something like this or if it's even feasible with technologies currently out there.
- ramijames 6y agoYes, we use DRM to ensure that games you are trying to run are owned by a blockchain account that you control. It is all seamless. Users dont even know they are using blockchain tech.