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My feeling is that this does something to the discoverability problem, to music patronage that's completely superfluous and doesn't serve the artists or their a
by Comevius 5y ago
My feeling is that this does something to the discoverability problem, to music patronage that's completely superfluous and doesn't serve the artists or their audience. It's being pushed by NFT enthusiasts and a16z, but yet to gain mainstream appeal.
I think this would be much more successful without NFTs, cryptocurrencies and all that. It would make it possible for ordinary people to understand the service better, especially when it comes to payment. The involvement of cryptocurrencies is simply a barrier. Scarcity isn't the best incentive either, it's an extrinsic motivation associated with logic and ownership, whereas for music you want an intrinsic motivation associated with self-expression, creativity and social aspects. These NFT platforms are suprisingly bad at presenting a social influence incentive, you would think it would be their bread and butter. Basically you want that and empowerment, with a bit of epic meaning mixed in. You want a creative playground of artists and their audience both feeling that they have an impact. None of this scarcity crap, instant turn off, it's completely on the other side of the spectrum. The point of music and any creative endevour is not the scarcity of the end product, it's sharing it. It's connection. There is no point in ownership. That's not the kind of connection people trully want, it's bragging rights at best.
- venatiodecorus 5y ago> I think this would be much more successful without NFTs I think a big part of some of these new projects is that their payment systems are powered by crypto, allowing them to operate completely outside the traditional financial system. To simply say, why not do this without crypto/blockchain, is ignoring a major facet of these systems. Some of these players may never have been able to secure a bank loan, or one big enough to start their project/service. Or they would never have been able to reach their audience so easily. Or they'd be beholden to a much smaller group of backers.