4 ms·

One of my favorite rappers, Nas, is selling royalty rights to his songs as NFTs[0]. I think selling NFTs as if they were trading cards is silly, but what Nas is

One of my favorite rappers, Nas, is selling royalty rights to his songs as NFTs[0]. I think selling NFTs as if they were trading cards is silly, but what Nas is doing? I think that's actually pretty cool. Thoughts? 0: https://www.nme.com/news/music/nas-to-sell-royalty-rights-to-two-of-his-songs-as-nfts-3133351 https://www.nme.com/news/music/nas-to-sell-royalty-rights-to...

quickthrowman 5y ago
I only have one thing to say here: “Smarten up Nas” Jay-Z, Takeover, The Blueprint (2001)
- diogenesjunior 5y ago
  How about a dash of Ether?
  - quickthrowman 5y ago
    I can’t think of a more perfect reply than this, nicely done! It even works on more than one level. Diogenes always had a clever retort, I should’ve seen it coming :) (Illmatic is better than anything Jay-Z ever released, imo)
    - diogenesjunior 5y ago
      Illmatic is A+ tier, but I like Stillmatic more. He recently dropped "Magic" would recommend if you enjoyed Illmatic.
candiddevmike 5y ago
What benefit does he have selling it via NFT vs something like ebay?
julianz 5y ago
The NFT has nothing to do with the transaction here. You're giving something of value to Nas in return for a slice of a revenue stream. Nas could choose to do that with a regular old fashioned contract. The NFT is just an extremely expensive way to print the receipt, and introduces a third party to the process that doesn't need to be there. What happens when they go out of business or pivot to something else in a couple of years - are you still going to get your royalties then?
gus_massa 5y ago
Why a non fungible token instead of a totally fungible ERC20 token for each song? So each person can buy the amount they want. Why not use a traditional method like Bowie https://en.wikipedia.org/wiki/Celebrity_bond https://en.wikipedia.org/wiki/Celebrity_bond ? That gives some protection in case he, his manager or the discographic decides to do creative accounting.
julianz 5y ago
btw I don't think this question should be downvoted, it's a fair thing to ask.

quickthrowman 5y ago

I only have one thing to say here: “Smarten up Nas” Jay-Z, Takeover, The Blueprint (2001)

diogenesjunior 5y ago
How about a dash of Ether?
- quickthrowman 5y ago
  I can’t think of a more perfect reply than this, nicely done! It even works on more than one level. Diogenes always had a clever retort, I should’ve seen it coming :) (Illmatic is better than anything Jay-Z ever released, imo)
  - diogenesjunior 5y ago
    Illmatic is A+ tier, but I like Stillmatic more. He recently dropped "Magic" would recommend if you enjoyed Illmatic.

candiddevmike 5y ago

What benefit does he have selling it via NFT vs something like ebay?

julianz 5y ago

The NFT has nothing to do with the transaction here. You're giving something of value to Nas in return for a slice of a revenue stream. Nas could choose to do that with a regular old fashioned contract. The NFT is just an extremely expensive way to print the receipt, and introduces a third party to the process that doesn't need to be there. What happens when they go out of business or pivot to something else in a couple of years - are you still going to get your royalties then?

gus_massa 5y ago

Why a non fungible token instead of a totally fungible ERC20 token for each song? So each person can buy the amount they want. Why not use a traditional method like Bowie https://en.wikipedia.org/wiki/Celebrity_bond https://en.wikipedia.org/wiki/Celebrity_bond ? That gives some protection in case he, his manager or the discographic decides to do creative accounting.

julianz 5y ago

btw I don't think this question should be downvoted, it's a fair thing to ask.