NFTS Archives - Frank Magliochetti

WEB3 and NFTs- Blockchain and a New Era

September 26, 2022 By admin

The Inevitability of WEB3 and NFTs

Change is inevitable, as they say, and growth is optional. This is especially true when it comes to the communication, commerce, and the internet. For decades, the only ways to talk to each other were to have face-to-face conversations, pick up the phone, or to write a letter; until mail order came along, the only means to buy something was to go to a store with cash, checks, or credit cards. The internet changed all that when it created a whole new way of communicating and buying things: we can now videochat with people around the world and pay for goods and services with virtual money.

The official birth of the internet was on January 1, 1983, when the U.S. Defense Department and Advanced Research Projects Agency Network (ARPANET) officially adopted Transfer Control Protocol/Internetwork Protocol (TCP/IP), a new communications protocol that allowed computer networks to talk to each other. In the nearly 40 years since, the internet is still changing and growing – and it is completely revolutionizing how we interact and buy things. Even Starbuck’s is brewing up a new way of interacting with consumers and rewarding their most loyal customers.

One of the best changes to the internet – and life in general – is the introduction of NFTs (non-fungible tokens). NFTs are digital assets, such as drawings or music, that you can create, buy, and sell. So far, NFTs have been especially valuable to artists, in that can help creators monetize their work in new ways. Musicians can sell NFTs of their songs or live events directly to their fans and keep more of the profits, for example, and reward fan loyalty. For digital artists, NFTs function as a certificate of authenticity that names the rightful owner of their art.

The real value of NFTs will likely emerge on the metaverse, which is an online space that uses augmented reality (AR), virtual reality (VR), and blockchain to create a simulated digital environment. These technologies will likely experience explosive and mind-blowing changes on the newest evolution of the internet – Web3.

The Inevitability of Web3

Web3 is the third iteration of the internet. Web1 (Web 1.0) was the first stage of the World Wide Web, featuring static information generated by a handful of content creators for a large group of passive readers. Originating with the Defense Advanced Research Projects Agency (DARPA), Web1 is also known as the “read only web.”

Web2 (Web 2.0) offered an interactive experience that allowed users to upload their own content. Web2 is the “participative social Web” in which users logged into centralized platforms, such as Facebook and Twitter, to interact with others and upload their own content.

Unlike Web1 and Web2, which were built on centralized servers owned by individuals or corporations, Web3 is a decentralized internet built on blockchain and decentralized autonomous organizations (DAO). The idea of Web3 is to create a more democratized internet in which the users themselves own the servers, systems, and networks that run applications and store data, and make decisions on the rules and regulations that govern the internet – at least in theory.

Web3 (Web 3.0) is the open and immersive internet of tomorrow that lets users interact, exchange information, and conduct financial transactions on decentralized platforms. Built on the blockchain, Web3 applications offer decentralized products and NFTs, and fundamentally changes how users connect, interact, work and play within a transparent ecosystem.

While Web3 is not entirely in place yet, many businesses and organizations are already testing the waters. French video game studio Ubisoft has recently adopted blockchain technology and some Web3 capabilities, for example, although the firm is still researching the potential benefits of Web3 and NFTs to its players. Others are steeping themselves into the new economy of Web3.

Starbucks Serves Up Trenta-sized Changes

Starbucks is among the first companies to integrate NFTs with an industry-leading loyalty program with its new Starbucks Odyssey. Powered by Web3 technology and slated for launch later this year, the new digital community will allow Starbucks Reward members and Starbuck employees (partners) in the United States to earn and buy digital assets that unlock access to new benefits, including immersive coffee experiences.

Starbucks opened its wait list on September 12, 2022, to partners and customers who hope to be the first to gain access to the Starbucks Odyssey experience. Once logged in, participants can engage in Starbucks Odyssey “journeys,” which are a series of activities that include interactive games and challenges that deepen the members’ knowledge of Starbucks and coffee in general.

Members who complete journeys are rewarded with a digital collectable ‘journey stamp’ (NFT). Members may also purchase limited edition stamps, also NFTs, with a credit card – no cryptocurrency or crypto wallet required. Each stamp will have a point value based on its rarity. Members can buy or sell stamps in the marketplace, with their ownership recorded on a blockchain. Collecting stamps increases members’ points, which unlocks access to exciting new benefits and experiences that could include virtual espressos, unique merchandise, martini-making classes, artist collaborations, and invitations to exclusive events at Starbucks Reserve Roasteries. Members may even use points to take a trip to the Starbucks coffee farm in Costa Rica, Starbucks Hacienda Alsacia.

It’s hard to predict exactly what the future holds for Starbucks, Web3, and NFTs, but change is inevitable and it will be as big and hot as a trenta Starbucks latte.

ABOUT FRANK MAGLIOCHETTI

Frank Magliochetti owes his professional success to his expertise in two areas: medicine and finance. After obtaining a BS in pharmacy from Northeastern University, he stayed on to enroll in the Masters of Toxicology program. He later specialized in corporate finance, receiving an MBA from The Sawyer School of Business at Suffolk University. His educational background includes completion of the Advanced Management Program at Harvard Business School and the General Management Program at Stanford Business School. Frank Magliochett i has held senior positions at Baxter International, Kontron Instruments, Haemonetics Corporation, and Sandoz. Since 2000, he has been a managing partner at Parcae Capita l, where he focuses on financial restructuring and interim management services for companies in the healthcare, media, and alternative energy industries. Last year, he was appointed chairman of the board at Grace Health Technology, a company providing an enterprise solution for the laboratory environment.

Frank is the CEO of ClickStream, ClickStream’s business operations are focused on the development and implementation of apps that disrupt such as WinQuik™, a free to play synchronized mobile app and digital gaming platform. The platform is designed to enable WinQuik™ users to have fun, interact and compete against each other in order to win real money and prizes. Twitter at @ClickstreamC @WinQuikApp, Nifter™, a music NFT marketplace that allows recording artists to create and sell limited edition authenticated NFTs, and their ever expanding foreign language exchange social learning app @HeyPalApp. ClickStream is also entering the E-Learning market with Joey’s Animal Kingdom- please visit them online at wowee.world

Frank was appointed Chairman and Chief Executive Officer at Designer Genomics International, Inc. The Company has accumulated a growing body of evidence that highlights a link between alterations in the immune and inflammatory systems and the development of chronic human disease. The Company is visionary and has established itself as a leader in the field of inflammatory and immune genetic DNA and RNA biomarkers that play a causative role in debilitating conditions, such as atherosclerosis/heart disease, diabetes, arthritis, inflammatory bowel disease, post-traumatic stress disorders (PTSD) and cancer.
A proprietary state-of-the art data mining bioinformatics program, called ‘cluster analysis’ will be used to measure disease development susceptibility with potential for earlier diagnosis and intervention. The company is developing a healthcare program based on its proprietary genetic panels that will allow people to be their own healthcare advocate and take an active role in their health status as well as longevity.
Frank is a highly sought after multifaceted senior C level executive.

This image has an empty alt attribute; its file name is frankmagliochetti_FrankMagliochettiNews.jpg — **Mr. Frank Magliochetti MBA**
Managing Partner
Parcae Capital
www.parcaecapitalcorp.com
www.frankmagliochetti.com

Filed Under: App Development, Blockchain, ClickStream, Featured, Frank Magliochetti, Media, Music NFT's, News, NFT, Nifter, WEB3 Tagged With: CLICKSTREAM, FRANK MAGLIOCHETTI, NFTS, STARBUCKS, WEB3

The Current State of Music NFTs

August 19, 2022 By admin

NFTS are Shaking Up the Music Industry

There was a time when all you could purchase with non-fungible tokens (NFTs) were those mopey monkeys that people inexplicitly bought for ridiculous amounts of money. Today, NFTs can do so much more than buy Bored Apes – especially for the music industry.

As you probably know, an NFT is a digital asset that represents real-world objects, such as art, in-game items, and music. Like other types of cryptocurrency (crypto), NFTs are bought and sold online through a digital database that creates a permanent, transparent record of the transaction. An NFT functions somewhat like a zip file with artwork on the front and nifty assets, such as music, tickets or videos, on the inside.

NFTs are still in their infancy, but their potential is becoming clear. Some of music’s heaviest hitters, such as Linkin Park’s Mike Shinoda and Kings of Leon, have already adopted NFT technology to reach more fans. The musician known as Grimes launched an NFT campaign that combined artwork and videos set to music, and she raked in a cool $6 million – which is the equivalent of a couple of billion Spotify streams. These fat stacks allow artists to compete with record labels while retaining ownership of their masters and their work.

New Opportunities for Partnerships

NFTs also create opportunities for collaboration. Intercept Music recently partnered with Method Man to create a new platform for independent labels and music artists, intending to create a digital distribution platform that empowers both artists and labels by giving them access to hundreds of digital stores and major streaming outlets. Intercept Music has partnerships with some of the biggest music marketplaces and distribution services, including Nifter.

These collaborations may be a lifesaver for artists, who suffer from a broken music industry that splits profits between the big dogs and leaves the musicians with pennies on the dollar. NFTs offer a more sustainable and equitable model for artists by creating a system that gives musicians more control over their work, and in the end, puts more money in their pockets.

NFTs Enhance the Connection between Creators and Fans

NFTs also work out for the fans, in that they create an opportunity for artists to connect with their base in a more personal (and profitable) way. Users often have a passive relationship with music – they listen to their favorite songs without any interaction with the artists that created them. Until NFTs came along, the only way for fans to gain greater ownership of their relationship with the artists was to buy VIP tickets with meet-and-greet or to purchase merchandise.

NFTs foster a more dynamic relationship by giving listeners an opportunity to engage and participate with the artist in ways that go well beyond the merch table. Fans can purchase limited edition or one-of-a-kind albums, buy physical or digital merchandise, or even interact with their favorite artists online.

But what about the “crypto winter?”

Bitcoin and other types of cryptocurrency have recently experienced a downturn, dubbed by many as “crypto winter.” Prices dropped and remained low, creating a bear market that has chilled interest in NFTs for some investors. Crypto winter has not frozen out many big players, though.

“I feel like every great industry has a downfall,” said Snoop Dogg when asked if he was concerned about the current crypto crash, for example. “There’s been a depression in every industry you can look at: alcohol, tobacco, clothing, food; every industry you can imagine.”

The music mogul isn’t alone. Billionaire Mark Cuban compared the crypto crash to the lull the internet experienced when the dotcom bubble burst. Cuban even went so far as to say that the NFT space was oversaturated with wanna-be investors, and that cyber winter weeded out all the people who weren’t supposed to be there. Snoop, Cuban and other NFT enthusiasts are still hot for the digital currency.

How do you make an NFT?

Making an NFT is easier than you probably realize. The first step, of course, is to find out as much you can so that you go into the venture wisely. Learn about gas fees, for example, which is the fee you pay to execute any transaction on the blockchain. The more you know before you dive in, the more successful your NFT venture will likely be.

Pick an asset

You can turn almost any digital file into an NFT, as long as you are the sole owner and nobody else has intellectual property rights.

Music
Video clips
Pictures
Artwork, such as drawings or paintings
Tweets and other online content
GIFs and memes

Start simple with an audio clip, video, or image, as these are the most commonly accepted formats in various marketplaces.

Choose a blockchain

A blockchain is a type of public ledger that records transactions made in bitcoin or other types of cryptocurrency. Ethereum and Solana are the top blockchains choices for NFT creators.

Choose a marketplace

Marketplaces are the online platforms in which users store, display, buy, sell, trade, and mint NFTs. NIFTER, Nifty Gateway, OpenSea and Rarible are among the most popular marketplaces.

Set up a digital wallet and add cryptocurrency

You’ll store your cryptocurrency in your digital wallet. MetaMask, Coinbase Wallet, and Alpha Wallet are among the most popular. Be sure to choose a digital wallet accepted by your marketplace of choice.

Upload your file

Upload and create a file that contains your NFT. Once you gain experience in uploading your NFTs, you can mint (publish) them directly on the blockchain. Newbies should use the minting tools provided by their marketplace. Connect your digital wallet to the marketplace to establish a payment system. Once your digital wallet is connected, the marketplace will publish your NFT. Your marketplace will assign unique metadata to your asset and record it on the blockchain. If you’d like, you can create extra value for your NFT by adding a smart contract that lays out the terms and conditions of the transaction.

Next, sit back and rake in the money. You can list your NFT at a fixed price or sell it auction-style to the highest bidder. While many NFTs never sell or earn very little money, it is entirely possibly that you will be the next music NFT to rise above and find success.

ABOUT FRANK MAGLIOCHETTI

Filed Under: Blockchain, ClickStream, Featured, Frank Magliochetti, Media, Music NFT's, News, NFT, Nifter Tagged With: CLICKSTREAM, FRANK MAGLIOCHETTI, NEWS, NFT NEWS, NFTS, NIFTER

Music NFT Trends to Watch in 2022

March 3, 2022 By admin

Trends to Watch for in NFT Music in 2022

Music has always been trendy. Early mankind grooved to Medieval, Renaissance and Baroque beats until Classical and Romantic music became all the rage. Most of the trends reflected the types of instruments available at the time. Since Édouard-Léon Scott de Martinville recorded an anonymous vocalist singing “Au Claire De La Lune” in 1860, however, technology has driven many of the trends in the music industry.

Rapid advancements in technology delivered music to radios, television, Walkmans, floppy disks, CDs, and USBs, leapfrogging today to streaming services like Spotify and Apple Music. Non-fungible tokens (NFTs) are poised to change everything we know about the music industry, and many of these changes will occur in 2022.

About Music NFTs

In the near future, NFTs will determine how music is made, distributed, preserved, performed, and consumed. For the consumers, music NFTs are simply digital collectibles. They do not carry inherent ownership rights – they are merely assets that collectors can buy and sell. For the artists, though, they are much more. NFTs are a new monetization model for musicians; the platform will also return ownership of music back to the artists that create it and to the fans who love it. Many of these changes will take shape in this year alone.

Top NFT Trends in 2022

Better returns for artists

Throughout the years, musicians have not been equitably compensated for their music. Artists have typically received only 50 percent of their total revenues, with the other half split between the agents, distributers and lawyers. Digital service providers (DSPs), such as online stores (Amazon Music, iTunes) and streaming services (Spotify, YouTube Music, Apple Music, Tidal) offer artists an even smaller return. Spotify pays $.003 and $.005 per stream, according to Business Insider, which means artists earn a dollar for every 250 streams or so.

To earn more, artists must produce more music and increase their fan base, but still is no guarantee of a good financial return. Most of Spotify’s top 0.8 percent of artists receive less than $50,000 in streaming revenue, and the other 99.2 percent receive even less.

Music NFTs, on the other hand, are selling for thousands of dollars that the artist can actually take to the bank. This technology allows artists to maximize their potential earnings with just a few hardcore fans, and can ensure that artists are more fairly compensated for their work.

NFT personalities

The number of musicians adopting NFT personalities will rise in 2022. A new generation of apps allow artists to perform as an NFT personality rather than as themselves. Virtual musicians have been around for a while, with the 1998 introduction of the English virtual band, Gorillaz. First appearing in 2018, musician Teflon Sega took virtual musicians to a new level, existing as a performer only in the metaverse. In just a few short years, Teflon Sega has developed a significant real-life following with millions of plays on Spotify, Soundcloud and YouTube.

One of the world’s largest music labels, Universal Music Group, recently introduced their new virtual supergroup, Kingship. Made up of the four digital characters from the Bored Ape Yacht Club non-fungible token (NFT) project, Kingship is the first metaverse group. One Kingship NFTs is currently valued at about $313,740.39, according to online NFT marketplace, OpenSea.

Other artists are taking notice, and more renowned stars will likely embrace the anonymity of performing under a digital persona in 2022.

Music NFTs will drive rewards and loyalty programs

Musicians and music companies tend to dive more quickly into innovations and future trends that brand marketers can someday use to attract audiences. Musicians flocked to streaming almost immediately after the introduction of Napster, for example, and have been quick to adopt DSPs to reach a wider audience. NFTs offer new distribution opportunities to artists – and much greater shares of revenue.

Audio/visual curated collections

Beatport became the first digital music retailer to accept bitcoin in 2021 with their release of announce the first-ever NFT audio/visual curated collection, “Music for Future Dance Floors.” The collection featured exclusive and unreleased tracks from several notable artists, including Charlotte de Witte, Sasha, Nic Fanciulli, Pan-Pot, Boys Noize, and Sama’ Abdulhadi. Stunning visual art from Leif Podhajsky accompanied the music.

Beatport followed up in January 2022 by announcing a partnership with PIXELYNX, a new gaming platform that not only allows musicians to create their own interactive environments, but to monetize them through NFTs, virtual performances, and playable experiences as well. The interactive format of this new metaverse blurs the lines between gaming and music.

Nifter

Nifter is a music NFT marketplace that allows artists to create and sell their unique music, and to connect with fans in a new way. Nifter has an active Discord server where music lovers meet to mint, buy, sell, collect and discover exclusive music NFTs – all on one easy-to-use platform.

Nifter is a subsidiary of ClickStream Corp, a technology company renowned for developing apps and digital platforms that disrupt conventional industries. Nifter has already minted an agreement with recording artist Lexi Drew to drop a one-of-a-kind NFT for sale during the first quarter of 2022.

Also known as Rebel Blockchain, Inc., Nifter has also executed an agreement Intercept Music, Inc., in which Intercept will provide recording artists to list their unique music and sound NFTs for sale. Nifter will use a sliding scale to compensate Intercept Music for each artist brought to the Nifter platform, based on the artists’ social media stats, stream data, download counts, and a number of other variables. Unlike the outdated platforms of yesteryear that frequently treated artists as an afterthought, Nifter puts the artist first by giving them a powerful and streamlined way to grow their fanbase, increase revenue, and capitalize on the budding marketing opportunities that NFTs bring.

NFTs will forever alter the revenue streams, creating new distribution and revenue opportunities for music creator. Music trends in 2022 will undoubtedly shape the future of NFTs and take music to new heights for decades to come.

ABOUT FRANK MAGLIOCHETTI

Sources

https://www.businessinsider.com/how-much-does-spotify-pay-per-stream

https://musictech.com/news/most-of-spotifys-top-0-8-of-artists-earn-less-than-50k-in-streaming-revenue/

https://www.virtualhumans.org/human/teflon-sega

https://opensea.io/assets/0xbc4ca0eda7647a8ab7c2061c2e118a18a936f13d/7796

https://www.beatport.com/

https://nifter.io/

Filed Under: App Development, Blockchain, ClickStream, Featured, Frank Magliochetti, Media, Mobile, Music NFT's, News, NFT, Nifter Tagged With: 2022, FRANK MAGLIOCHETTI, MUSIC NFT, NFT, NFTS, NIFTER

As NFTs Grow in Use and Scope They Are Here to Stay-

September 29, 2021 By admin

Once considered a fad phenomenon, non-fungible tokens (NFTs) show no signs of stopping. In fact, this new investment trend appears to be gaining in popularity. In fact, there were $2.5 billion in NFT sales in the first half of 2021, according to Forbes, and $1.2 billion just in the month of July. Clearly, NFTs have expanded well beyond cute digital penguins.

NFTs are digital assets representing ownership of virtual items, such as computerized art and sports highlights. They’ve been around since 2014, but NFTs have hit it big recently. Christie’s rocked the auction world in March of 2021 with their record-setting $69 million sale of the digital work by Beeple.

Several big names are jumping on the NFT bandwagon. Tom Brady’s Autograph provides a way a way for fans and collectors to own a piece of iconic moments in sports and entertainment, for example. The platform will sell authenticated and official digital collectibles from high profile athletes, such as the football legend’s friend Derek Jeter, hockey star Wayne Gretzky, and 1980s skateboard legend, Tony Hawk. Other notable athletes have signed on as well, such as G.O.A.T Simone Biles, Naomi Osaka, Tiger Woods, and more.

Major brands are now acquiring popular NFTs. Following a number of household brands, such as Snickers, Milky Way, Axe, Slim Jim, Burger King, Oscar Mayer, Budweiser entered the world of digital art collecting with its first purchase of art pieces created by Tom Sachs. The artwork, named “Life of the Party,” depicts a rocket made from the Budweiser logo and sold for just over $25,000.

Several big names, such as Gucci and Burberry, are offering limited-edition items exclusively on blockchain. Gucci partnered with Christie’s to present its first NFT: a digital drawing inspired by the brand’s latest fashion film presentation of the spring 2021 collection, “Gucci Aria,” directed by Alessandro Michele and Floria Sigismondi. By the auction’s close on June 3^rd, the NFT fetched $25,000.

On August 4, 2021, Luxury clothing brand Burberry introduced its non-fungible token (NFT) collection in Blankos Block Party, a popular blockchain game by Mythical Games. The game features NFT vinyl toys, known as Blankos, that users can collect, upgrade, and sell. Burberry will release a limited-edition, limited-quantity Burberry Blanko – a shark named Sharky B – for the game. Burberry will launch its own branded in-game NFT accessories, such as a jetpack, pool shoes and armbands that players can apply to any Blanko they own. Burberry Blankos not only provide a way for players to up their style, they also pave the way for player ownership in gaming.

Decentraland is a user-owned virtual world in which participants can game, build marketplaces, and even attend NFT art shows. Decentraland also offers wearables for avatars, such as cat eyes, a creepy mouth, patchwork sweaters, hats, pants, and earrings. NFTs can allow users to move in-game items, such as wearables, from game to game. Someone could win a new skin for an avatar in one game, for example, and transfer the skin to a different avatar in a different game.

The new generation of NFTs also make it possible to create and maintain a persistent identity across multiple games and even across multiple platforms. Many platforms allow you to create a unique avatar for each game you want to play. Unified identities could replace the slew of avatars with a single identity, one that allows other users to recognize you between the various games and platforms.

Investors are taking notice of NFTs. Mark Cuban took a stake in the Singapore-based startup, Alethea AI, which is creating “intelligent” versions of NFTs. Users can embed AI animation, interaction, and even voice synthesis into digital art. The company sold one intelligent NFT (iNFT) at a Sotheby’s auction in June for $478,000. The iNFT, named Alice, answered questions in real-time in a live Twitter feed just before the sale. Today’s iNFTs are fun and entertaining today, they also lay the foundation for unimaginable interactivity tomorrow.

NFTs are also funding television shows and movies. An NFT project will fund Mila Kunis and Ashton Kutcher’s upcoming show, Stoner Cats, in which big names like Chris Rock, Jane Fonda, and Seth MacFarlane provide voiceovers to a cast of mischievous cartoon felines. The new series is only available to NFT holders, who snapped up more than 10,000 NFTs in just over 35 minutes at the end of August, 2021. The sale raised more than $8.4 million.

On Aug. 23, Visa announced that it had purchased Crypto Punk #7610 for just under $150,000. Why? Cuy Sheffield, Head of Crypto at Visa and an NFT enthusiast, says that the company believes “NFTs will play an important role in the future of retail, social media, entertainment, and commerce.” He says that NFTs will also make it easier for companies to pay their partners across borders.

While corporations are raking in big revenues with NFTs, smaller entrepreneurs are also benefiting. Benyamin Ahmed earned more than $255,000 in a single day from his second NFT collection, Weird Whales. Ahmed earned another $95,000 from the resale market. Not bad for a 12-year-old! This budding coder is already working on another NFT project.

Young coders like Ahmed and big investors will change how we use NFTs. While it is hard to imagine what NFTs will look like in the future, one thing is for certain – NFTs are more than just a passing phase.

ABOUT FRANK MAGLIOCHETTI