A look at who we are, and what we want to do
The explosion of digitally traded art has introduced millions to a new concept. In an era where nearly everything online can be copied and pasted an infinite number of times, it’s possible to own an original piece of digital art.
This is feasible for the first time since the creation of the internet due to cryptocurrencies, and more specifically, NFTs. NFTs allow for the unique ownership of a digital good, usually an image, animation, or video, in the form of unique tokens living on a blockchain. We have already seen how they can be used to verify individual art pieces in high profile cases, such as the digital auctions held by 3Lau, Grimes, and Steve Aoki, but we wanted to ask ourselves; are NFTs always destined for the collector’s cabinet?
NFTs with a purpose
NFTs as they currently exist are typically no more than simple gifs or images, serving to verify a piece or digital work as an original. At the moment, they have little value other than for wealthy investors and collectors to buy and trade pieces. And while NFTs will always be speculative assets capable of appreciation, we believe that isn’t all they have much more potential.
Our goal is to make the digital art world accessible, and more functional, to everybody through their favorite musical artists; no matter how big or small they are.
What is NFT FM?
NFT FM is a music distribution platform dedicated to artists and fans alike. We aim to connect the music and crypto industries by providing fans a way to directly support the artists they love. On NFT FM, artists have full control over how they distribute their music and receive a much higher cut of all their sales.
On NFT FM, music artists will select the number of NFTs they want to create as well as the starting price they want to sell at. By enabling artists of any size to create their own NFTs with full length audio tracks, we’re allowing musicians to put out unique versions, early releases, and exclusive pieces for their biggest fans.
Why use NFT FM?
We know more applications or platforms can get exhausting, so why should you be interested?
Support your favorite artist
The music industry is almost entirely based in streaming at this point. Unfortunately, most artists simply don’t get much money from it. In fact, Spotify pays artists an average of one-third to one-half of a cent per stream. While this works well enough for A-list music artists with millions of dedicated listeners, musicians with smaller followings struggle to make a living off it. On NFT FM, 95% of all purchases go directly to the musicians. By purchasing your music as an NFT, you are buying your music directly from the source, and supporting your favorite artist to help them keep making the music you love.
Total ownership
So what happens when you buy your music on NFT FM? You get a piece of original art that is verifiably yours. Think of it like buying a vinyl record that never loses audio quality and can’t ever be damaged. Of course, you can listen to it whenever you like, but what else does that mean?
With a limited number of records released and an unpredictable demand for them, original NFT music pieces have the potential to multiply in value.
A musical investment
How many times have you listened to an artist you know to be underrated? How many times did you listen to their songs, knowing it was only a matter of time before they blew up?
NFT FM doesn’t just give you the ability to listen to and support your favorite artist, it lets you invest in them. When you buy NFT music, you can also trade it away once it appreciates in value.
Imagine your favorite artist is dropping their next album in a month, and they list it early on NFT FM. By purchasing the NFT album, you already gain immediate exclusive access to the album early. However, if you wanted, you could also purchase multiple copies, knowing months or years down the line, others will be wishing they did the same. If your chosen artist further grows in popularity, those albums you purchased for fifty bucks could be worth thousands of dollars.
What comes next?
NFT FM is already developed and fully functional. Right now, we are in talks with multiple different labels and a couple artist’s management teams curating artists to launch with. As for now, stay with us as we gather a collection of music for you.
If you are interested in staying in touch, please join our Telegram:
https://t.me/joinchat/q6_q25NWr99kOGUx
If you are an artist interested in launching with us, please reach out to me directly:
jackson@nftfm.io
We hope to see you tuning in to NFT FM soon.
Until next time!
