Tag Archives: NFT

NFTs in Music: Transforming the Music Industry.

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A music NFT is a distinct digital asset that is issued on a blockchain and is linked to an individual song, EP, album, or video clip.

Non-fungible tokens (NFTs) have been making waves in the art world, with generative art collections becoming increasingly popular among Web3 enthusiasts and in the traditional art world. However, NFTs as immutable records of ownership for digital items have many more use cases.

While the music industry’s global revenue is expected to surpass $65B in 2023, these earnings predominantly flow into a few large platforms and major record labels. As a result, many artists have started exploring the use of NFTs as a new way of distributing and monetizing music. 

Music NFTs have the potential to revolutionize the way artists create, distribute, and earn income from their music. In contrast to the current model, where artists have to rely on record contracts, brand deals, and extensive touring to advance their careers, music NFTs present artists with the opportunity to generate income solely based on their primary focus—creating music.

In this post, we’ll look at what music NFTs are and how they work and examine how this technology can transform the music industry through improved economics and more immediate fan-artist relationships.

What Is a Music NFT?

First, a quick primer on NFTs. An NFT is a token on a blockchain that is unique. Each NFT has a unique token ID and contract address that sets it apart from other NFTs. While an NFT can be linked to any media, what’s typically associated as the “content” of an NFT is stored in its metadata, which can point to images, videos, music, or other forms of media.

In a nutshell, a music NFT is a distinct digital asset that is issued on a blockchain and is linked to an individual song, EP, album, or video clip. Artists can create unique digital assets as NFTs that represent their music, concert tickets, exclusive merchandise, or virtual experiences, which people can then own, use, or trade. Purchasing a music NFT can be seen as a way of supporting an artist—akin to buying their music directly—while still allowing others to enjoy their work.

Music NFTs enable artists to forge a more direct relationship with their collector community. By helping to circumvent larger platforms, music NFTs give artists the chance to build a more direct connection with their fan base, who can also benefit from new ways of interaction and ownership.

Some music NFTs are generated entirely by an on-chain algorithm with no external dependencies. Generative music posted on-chain empowers artists to create a permanent imprint on an immutable ledger and preserve their creation for future generations exactly as originally intended.

How Do Music NFTs Work?

In essence, music NFTs help shift the ownership of music from companies to individuals. While record labels continue to play an important role in the music industry and can serve several business functions for artists, music NFTs allow artists the option to maintain full ownership of their creations.

Some music NFTs include revenue and royalty-sharing features that can provide a source of income for artists without them having to rely solely on earnings from streaming services, building a large following, or engaging in excessive marketing. Instead, they can rely on a smaller group of highly dedicated fans.

As such, music NFTs can help emerging artists who may not have access to traditional funding or distribution channels. With the rise of Web3 platforms and marketplaces, musicians can independently create and sell their NFTs, giving them greater control over their careers and revenue streams.

Another important benefit is the ability to create token-gated communities that enable fans to participate in exclusive events and promotions, opening up secondary markets for fandom that alter the dynamics of being a fan and enable more integrated fan communities.

How Will Music NFTs Impact the Music Industry?

$0.004 Per Stream Vs. $40 Per Mint

Since the onset of streaming, opportunities for musicians to earn an income have significantly decreased. NFTs turn pieces of music into a commodity, like a piece of art that can be bought and sold, similar to the earlier days of the music industry with vinyl records, cassette tapes, CDs, and MP3s.

Currently, many artists find it difficult to see significant returns on streaming platforms. According to some estimates, one stream on Spotify amounts to about $0.004 paid to the artist, meaning that one million streams net roughly $4000. Getting that many streams isn’t realistic for most independent artists. It’s important to note that the issue here isn’t necessarily with individual companies but more with the underlying economic model. Offering the ability to stream a large portion of the music library of human history for the equivalent of ~$10 a month creates thin margins both for the platforms and the creators, and is likely leading to a race to the bottom.

Real life examples:

  1. Kings of Leon’s NFT Album Release:
    • In March 2021, the American rock band Kings of Leon became one of the first major musical acts to release their album as an NFT. The album, titled “When You See Yourself,” was made available for purchase as three types of NFTs, each offering different perks such as exclusive audiovisual art and a “golden ticket” for VIP concert experiences.
  2. 3LAU’s Ultraviolet NFT Album:
    • Electronic dance music (EDM) artist 3LAU (Justin Blau) released his album “Ultraviolet” as an NFT in February 2021. The NFTs included special edition music and unique experiences, allowing fans to have a more immersive and exclusive connection to the artist.
  3. Beeple’s Collaborations with Musicians:
    • Digital artist Beeple (Mike Winkelmann) has collaborated with various musicians to create NFT-based visual experiences. Notably, his collaboration with EDM artist Deadmau5 resulted in the creation of unique audiovisual NFTs that represented a fusion of music and visual art.
  4. Grimes’ NFT Art and Music Auction:
    • Canadian musician Grimes, known for her experimental music and visual art, auctioned digital art and unreleased music as NFTs. The auction included exclusive pieces of art and audio content, providing fans with a chance to own unique and limited digital assets.
  5. Steve Aoki’s NFT Journey:
    • Renowned DJ and producer Steve Aoki has embraced NFTs as a way to engage with his fan base. He has released NFTs featuring exclusive music, behind-the-scenes content, and virtual experiences. Aoki has also experimented with interactive NFTs, allowing fans to participate in challenges and unlock additional content.

My opinion:

While the potential for NFTs to revolutionize the music industry is evident, it’s crucial to acknowledge the inherent challenges. The tokenization of music rights through NFTs, may introduce complexities in terms of legal frameworks and the fair distribution of revenues.

Additionally, concerns about market volatility and environmental impact raise questions about the long-term sustainability of this trend. While blockchain technology offers direct artist-fan connections, it’s essential to carefully navigate the evolving landscape, considering both the promises and pitfalls of integrating NFTs into the music ecosystem. So, to be honest I’m not a fan of this happening.


ChatGpt – version 3.5 ( https://chat.openai.com/share/1086341a-c645-46a5-86e3-9f6049e21891 )

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the secret of NFT’s success and how are celebrities related to this

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At present, NFTs, beloved and hated by all of us, are most often associated either with pixel guys which cost as much as yachts a or with monkeys that are in no way inferior in popularity and price to pixel arts. Each of us is well aware of these works of art and almost no one understands what is their value. Despite the massive praise and justification for crypto images, almost no one thought about what kind of marketing program was involved in order to make useless photos so popular.

There is a company that deals with advertising, its name is CAA (Creative Artist Agency), it is this company that works with those whom we love and respect so much, with top-tier stars, it is this company that owns a stake in the largest NFT marketplace OpenSea. Representatives of this company are Jimmy Fallon, Paris Hilton, Eminem, Snoop Dogg and many others, and each of them owns a certain percentage of OpenSea, which means that it is very profitable for each of them to advertise crypto pictures.

it follows that the growing popularity of crypto-exchanges for nft trading is not groundless and, with due effort, absolutely any project can be turned into a money pipeline. this is one of the best examples of marketing at its best.


NFTs – What are the market prospects? Should you invest in them?

Reading Time: 4 minutes

When did NFTs start?

As a reminder, NFTs or Non-fungible tokens, or at least the meaning of “non-fungible” means: 

“That it’s unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have the same thing. A one-of-a-kind trading card, however, is non-fungible. If you traded it for a different card, you’d have something completely different.”

“NFTs can really be anything digital (such as drawings, music, your brain downloaded and turned into an AI), but a lot of the current excitement is around using the tech to sell digital art.”


Now that we have an understanding of what NFTs are, we can start focusing on the origin of this technology. On the 7th of August 2015, the first NFT was born. Its name was “Terra Nullius”, and it was part of the Ethereum blockchain. It turns out that the NFT had one particularity, it made users able to “claim a stake”. Essentially this means that you were able to insert a short message to personalize the NFT.

Then, a few months later, Etheria v1.1 also named Blockplots was created. Other than being one of the first NFTs to be introduced to the world, Etheria had a specific trait, the buyers were able to buy “tiles” from a 457-piece map. This concept please many NFT creators, and similar concepts were created.

One of them was named “PixelMap”, created at the end of 2016, it allowed users to purchase one or more images from a blockchain with 3,970 pieces available. PixelMap was some sort of combination of Etheria and Terra Nullius, as it not only had a limited number of buys but was also individually customizable. 

The idea of owning individual digital pieces was approved by other creators and therefore decided to diversify the asset. In 2017, Ethereum Name Service was invented, and granted the possibility to users to purchase one of their decentralized domain names. As time went by, you were able to own collectible cards thanks to Curio Cards, or even one of 400 plots on the moon with Lunar Token.

All in all, NFTs have existed since 2015 and have diversified in terms of the content of the purchased asset. Thanks to the graph below, you can visualize that NFTs have just recently become a trend.

Yet as you know now, NFTs have been around for 7 years now, so why is it now so popular?

NFT and its on-growing popularity.

As no media seem to understand the proper reason for its popularity, economic and technological factors, that made sense for NFTs to have such a prosperous run. NFTs’ ability to be purchased by cryptocurrencies is therefore greatly interlinked with Bitcoin’s recent bull run. As you may or may not know, at the end of 2020, reached a record-breaking all-time high of $68,0000. One can think that bitcoins’ popularity has therefore led to crypto-purchasable assets such as NFTs. 

One of the historically notorious NFTs back in late 2017 was CryptoKitties. It turns out that they made a comeback today with the “NBA Top Shot”. The American basketball league and CryptoKitties created NFTs of the best moments of the season. As a result, the duo became the number one source of volume on the NFT market. NBA being having such popularity; one can imagine that the cooperation became a catalyzer for the technology.

Finally, the pandemic has had a major influence on the international market, particularly on the collectibles market. The collectibles market value grew to $522b (irei.com, 2021), explaining one of the reasons why NFTs became so popular.

The different sorts of NFTs

To understand if NFTs are investable today, it is important to understand the different types that exist today.

Today the main types of NFTS on the market are: 

Music: Allowing musicians to create a smaller audience of their biggest fans.

Art: This allows digital art lovers to have their unique pieces.

Access: Tickets that allow you to have access to digital content.

Redeemable: A token that authorizes you to claim a physical good.

Game objects: Think of skins for example (the color of your character in a video game), when purchased by the player, the company still has ownership. With NFTs, the player would have full ownership of the object and be able to benefit from its interoperability. 

Identity: Users will have the possibility to benefit from NFTs interoperability and the blockchain’s secured system.

Web 2.0 Databases: Keeping personal or even professional information decentralized will benefit the user in the way that they will be able to secure them, but also transfer their data to a decentralized system to a centralized one.

Should you invest in NFTs today?

It depends on the sort of investor that you are. If you are a risk-taking capitalist, in that case, trending cryptos such as the BAYC (Bored Ape Yacht Club) NFTs. This company has created many digital arts selling for millions of dollars. One of them, the “Bored Ape #3749”, sold for 740 ETH, the equivalent of around $2.9 million. Many celebrities are contentiously investing in them today, making the prices reach extremely high summits. If you are a specialist in the Art market, in that case, Art NFTs might be for you.

Of course, if you are purchasing the NFTs to support creators, or just because you want to have your “hands” on one, then sure, go for it!

On the other hand, the more “practicable” aspect of NFTs can become a great way to protect your data but also interoperate your credentials to different devices. This feature is becoming an interest for more and more companies, thus you might want to hold on to your wallet, as future competition in the industry will probably rise the buyers’ bargaining power.

Sources used:

–      https://bernardmarr.com/the-10-best-examples-of-nfts/#:~:text=2%20January%202022,lining%20up%20to%20buy%20them

–      https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq 

–      https://www.one37pm.com/nft/tech/the-definitive-timeline-of-early-nfts-on-ethereum#:~:text=1.,’claim’%20on%20the%20blockchain

–      https://nftevening.com/terra-nullius-nft-project-is-the-newest-oldest-nft-in-existence/ 

–      https://medium.com/momentum6/nfts-have-a-future-beyond-investment-the-seven-types-of-nfts-you-can-get-today-674195d78087

–      https://influencermarketinghub.com/nfts-statistics/  

–      https://medium.com/geekculture/how-did-nfts-become-so-popular-f894eea22f90 

–      https://time.com/nextadvisor/investing/cryptocurrency/bitcoin-record-high-price/ 

–      https://irei.com/news/collectibles-market-value-grow-522b/ 

–      https://www.nftsstreet.com/top-10-most-expensive-bored-ape-yacht-club-nfts/ 

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Impact of cryptocurrencies on Environment

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Last year new trend in e-conomy called NFTs made it to the headlines and quickly started picking up popularity. Poland was no exception with various Celebrities and Influencers like Magda Gessler or Krzysztof Gonciarz presenting to their followers their NFTs. This spurred controversies, as some of those celebrities often engaging in pro-environment initiatives (like it is the case with Gonciarz) support the trend which is definitely not the most eco-firendly. Before I explain, how NFTs impact environment, let’s define what they actually are and how they work.

Gonciarz’s NFT profile picture

NFT (non-fungible token) is a customized virtual token which is acquired with cryptocurrencies, in most cases with Ethereum. NFTs very often take a form of a pixelized image for example a fictional Ape. To acquire one you need to buy it from an artist and in return you get a certificate confirming that you purchased it, but you are not the owner of the picture though. The fact that you have purchased a NFT is confirmed and by the blockchain technology.

To ensure that transaction with cryptocurrencies are safe and are executed properly, the data about buyer and seller are encrypted into a complex mathematical equation and placed in a dispersed network of users. Data about transactions, when they took place and how much they were worth is sorted in so called blocks. As blocks are constantly updated with new transactions new blocks are connected with the old ones hence the name blockchain. To simplify, every user can look at details behind the transaction at any time.  Solving the equation provides you with a reward. This procedure, dubbed by the community ‘mining’, requires a lot of computing power, which means that it requires a lot of energy.

Mining, which is the source of cryptocurrencies entering the market, is the reason, why the demand on GPUs is very high recently. Mining is also cause of serious ecological concerns. When we sum up all miners in the world, their equipment uses amounts of energy which can be considered enourmous – for example amount of energy Bitcoin minining uses can be compared to energy used by all inhabitants of a highly developed countries like Sweden. If the way mining works won’t be changed, then it will use up more and more energy, due to cryptocurrencies and NFTs becoming more popular. It is also worth mentioning that despite most of miners using renewable energy sources, still most (61%) of the energy reaches mining computers thanks to non-renewable spurces of energy like burning fossil fuels. Significant amount of mining takes place in China or Russia, where energy is very cheap but mostly comes from non-renewable sources. NFTs, due to relying on cryptocurrencies, is part of this process which results in draining lots of energy, while it also accounts to CO2 emissions which humanity needs to reduce in order to fight the Global Warming.

Ethereum’s logo

Is it possible for the cryptocurrencies to be more eco-friendly and consume less energy? Yes, some of the cryptocurrencies are using up many times less energy than the most popular Bitcoin and Ethereum. Ethereum is also planning to change the way the currency is being mined in order to cut down their emission by as much as 99%. After all, while cryptocurrencies at the moment are bad for environment, there is huge chance that it may not be the case in near future.


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AI-painter Botto made his first million dollars

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A compelling argument for a decentralized approach when using artificial intelligence systems for creative purposes. And also an attractive business – numerous project participants had the opportunity to make good money in the future. Botto generates thousands of images, but only the community of people supporting the project decides in which direction the “creator” should work and which works will go to the auction. Only owners of Botto cryptocurrency can vote.

Botto', the robot creating works of art, makes its first million at auction  | Euronews
Seaport subject

Every week, Botto presents fifty art pieces to the community, who then vote on their favorite artwork

Botto | Decentralized Autonomous Artist
Poetic Decay

How Botto creates art?

Botto’s work begins by generating a line describing a new painting, a kind of technical task. The text is transmitted to the VQGAN neural network, which recognizes it and matches image fragments to words, and then combines them into one picture. It is sent for verification to another CLIP neural network, which determines the correspondence of the image to the words, makes corrections and sends everything back to VQGAN for revision.

When CLIP is satisfied with the result, Botto uses the GPT-3 natural language generator to create a poetic description of the painting. After that, the finished painting is sent to the evaluation of human critics – 300 different images per day. Based on the voting results, a certain number of works are selected, which receive an NFT token and are put up for auction.

Dirty Shift

How it’s work?

Botto’s philosophy of work is built in such a way that he constantly challenges critics while improving his skills. To be able to “compete” with AI, you need to pay for participation in a special cryptocurrency created exclusively for this project. The money that comes from the sale of paintings is used to buy it out and “dispose of”, so the amount of cryptocurrency is constantly decreasing, and the value is growing. And it gives members the opportunity to make money by selling their inventory, which weeds out random people.

Blast Woof


As for me, it is not correct that they are engaged in artificially raising the prices of their coins. They burn part of their coins so that the price of the remaining ones would rise and over time a kind of deficiency was formed.

While the robot is only learning, then its actions are based only on the information received and interpreted in its own way over time it will be able to come up with something of its own, but still there will be no soul in it and most importantly it will be without UNIQUE HISTORY.


In the end, I would like to recommend visiting his official website and be sure to go to the gallery to view all the paintings. (https://app.botto.com/) Also I recommend to read his Manifesto (https://botto.com/Unicist_Manifesto.pdf)

Will the machine be able to create as a person in the future? And can it be considered art?


https://www.techcult.ru/technology/10358-ii-hudozhnik-botto-zarabotal-svoj-pervyj-million-dollarov https://3dnews.ru/1054804/iihudognik-botto-zarabotal-perviy-million-dollarov-na-nftkartinah https://newatlas.com/collectibles/botto-ai-art/ https://forklog.com/ii-hudozhnik-botto-zarabotal-bolee-1-mln-na-prodazhe-nft/ https://app.botto.com/

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