With the advent of NFT, it became possible to own music for the first time.
What is NFT?
What is NFT that we hear so much about these days? Non-Fungible Token It is hard to understand, but it means something that cannot be replaced, something that can only be found in the world. Conversely, a Fungible Token is something that can be replaced. For example, a brand new baseball. I bought one of each with a friend. If my friend wants to replace it, I can replace it separately if it is new, right? However, after buying the ball, I had Ichiro sign it for me! If my friend saw it and asked me to exchange it, I would not do so. It was because the signature made the ball valuable and irreplaceable. The fact that NFT is irreplaceable makes it valuable in its own right. The Mona Lisa on display at the Louvre is the real thing. It is the only one in the world. Even though there are many copies, only the real thing is valuable. Because digital data is so easy to copy, it has been difficult to recognize its value, even though it really has value. Today, NFT, "digital data with an unalterable proof of ownership," is being generated by the blockchain technology and traded by those who believe it has value. NFTs, which are "digital data with an unalterable proof of ownership," are now being traded actively by those who believe they have value.
If I buy a CD or record, don’t I own the music?
Music is digital data. As of 2022, music is being serviced by subscriber services. Users do not own music, they just listen to it. Not long ago, music was sold on CDs, and even earlier, on vinyl records. Before the advent of NFT, buying a CD was considered owning music. After the advent of the NFT, however, the CD became "plastic" that allowed people to listen to music. So, when you buy a CD, you do not own the music; you own the plastic that allows you to listen to the music. There is another meaning of music ownership: copyright ownership. NFT sales are ownership sales, not copyright sales. Therefore, when you buy NFT, you do not transfer the copyright to the music.
project of napskint will sell music at music NFT
If I just want to listen to music, I can download it for free and that's fine, right? That's right. We would be happy if you enjoy listening to our music. In the near future, when NFT is a common part of our lives All music will be available for free. But that does not mean that music itself has no value. I would like to own NFT of my favorite artist's music. I would like to own TOOL and Alice in Chains music NFT if they were available. I know it would probably be too expensive and unaffordable. A large aspect of the feeling of owning an NFT is that you can only understand it if you actually buy it. As of 2022, it is common to purchase in cryptocurrency. Therefore, to purchase NFTs, you must Open an account on a cryptocurrency exchange Create a wallet such as MetaMask, etc. The hurdles to purchase are high and will be explained separately.