what's up guys in this video we will be talking about the existing and rapidly growing Trend in
the music industry and that is the music nft I'm not a professional advisor but let's get
it on all right guys so we start off by defining what a non-fungible token is and if you would like
to know a more in-depth explanation on what that is we also created a video just for you
it is available in our channel so go ahead and click that subscribe that way you'll always be
notified what does a non-fungible token alright so a non-fungible token often referred to as nft
I'm sure you have heard of that already it's a blockchain based tokens that each represent
a unique asset like a piece of art a digital content a media those type of things and an nft
can be thought of as an irrevocable digital certificate of ownership and authenticity
for a given asset whether it is a digital one or a physical one okay so go ahead and check out the
video for a more in-depth explanation in that one this is the website where we will be focusing on
in terms of like giving you all the information that you need to know about the music nfts it will
also be available in the description of the video that we can go ahead and check them out during
your available time so first things first what are music nfts music is one of the integral parts
of every person's life and is present everywhere the cacophony of birds during the early morning
hours or the gentle rustling of leaves as the re-specified tree everything is music now they can
also provide a unique representation of ownership of music clips and videos music nfts are basically
the work of musics artists represented in the form of nfts and it's about time guys I mean during the
one of like streaming and all those stuff almost everything has been digitalized so the CDs those
uh tapes and all those stuff though those are almost Obsolete and you know those people that
are just collecting the if you are that uh collector type of a person then that's the
only time that you purchase those CDs those cassettes otherwise you just go ahead and
subscribe to you know streaming platforms so you can listen to the music that you like so what is
the definition of music nft so growing hype around a music nfts can be attributed to the development
of nfts non-fungible tokens so they are digital assets which I mentioned earlier the search for
an explanation about like music NFD platform would focus on the element of fungibility which verifies
unique ownership during assessment of nfts now based on the definition definition of nfts you
can perceive music nfts a certificate of ownership for identifying owners of a piece of musical work
now for those of you that are musical lovers this is definitely a very good news for you because you
know instead of just buying nfts that are image you know digital media and all those stuff now
hopefully you know the music nft or the music industry will continue their push on getting
those music and getting the nfts integrated into the music alright so the first thing that you
need in the discussion on music nfts explain comprehensively would refer to the reasons
for bringing them right now let us travel back in the past when music artists gained a lot of
Acclaim for their worth so even if you have iconic music artists today the music industry faces more
challenges to date more than ever even before so for starters the sales of physical records just
like I mentioned earlier have plummeted radically giving way to the rights of the online streaming
platforms you have a lot of different streaming platforms where you could listen those music
from therefore you know leaving the cassettes those CDs behind right however online streaming
services offer measly payments even to the artists with millions of fans as a matter of fact many
artists have expressed dissent over the lack of opportunities to make money out of their work
now in such cases music nfts can offer visible Solutions of uh for revising the traditional
revenue and ownership models in the music industry now many types of music nft examples have shown
that nfts could help artists in many ways by increasing fan involvement you have alongside
removing intermediaries such as the record labels okay so talking about working on the music nfts so
the next critical highlight in the discussion about the music nfts would refer to the topic
on how do music nfts work correct now as it can show what goes behind the unique nfts you would
find many similarities between the existing models for sales and production in the music industry the
principles underlying the music nfts and the next step artists have to pick a blockchain network on
which they would like to develop those nfts now subsequently artists must also choose a music nft
Marketplace for launching their nfts or where they could sell those nfts now after the identification
of the desired nft Marketplace or the platform artists can notify their fans about the nft
drops okay so at this stage the artist can list their music nfts for auction according to their
desired price now the biggest Advantage with the working of uh music nfts is the fact that they
cannot be duplicated right because again nfts are unique now music artists or producers can
opt for a distinct modes of Distributing nfts among their fans one of the common examples of
Music nft distributions refers to as one of sale where the highest bidder can purchase the audio
file now if we can see images like simple images like pixelized images selling for multi-million
dollars then I don't see any reason why music nfts wouldn't sell just like that so it's like
a good investment just like the images the image nft these or whatever digital asset nfts you have
right now okay those are basically the things that I would like to share to you in terms of like the
music nftc we will definitely be creating more and more content as it goes live if you are new to the
channel I hope you would consider subscribing and clicking that Bell that way you will always
be notified when we create new videos in the future I will see you on the next I'm out peace