August 20, 2022

Music NFT Trends to Watch in 2022

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

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 Magliochetti has held senior positions at Baxter International, Kontron Instruments, Haemonetics Corporation, and Sandoz. Since 2000, he has been a managing partner at Parcae Capital, 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  @WinQuikAppNifter™, 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.

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/

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

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 3rd, 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

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 Magliochetti has held senior positions at Baxter International, Kontron Instruments, Haemonetics Corporation, and Sandoz. Since 2000, he has been a managing partner at Parcae Capital, 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  @WinQuikAppNifter™, 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.

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.

SOURCES

https://autograph.io/

https://opensea.io/assets/0x6b00de202e3cd03c523ca05d8b47231dbdd9142b/325

https://gothammag.com/gucci-nft-aria-christies-auction

https://www.burberryplc.com/en/news/brand/2021/Blankos.html

https://decentraland.org/

https://opensea.io/collection/decentraland-wearables

https://nypost.com/2021/08/26/mark-cuban-invests-in-firm-creating-ai-nfts-that-talk/

https://www.sothebys.com/en/buy/auction/2021/natively-digital-a-curated-nft-sale-2/to-the-young-artists-of-cyberspace

https://www.stonercats.com/cats

https://news.bitcoin.com/mila-kunis-stoner-cats-nft-sale-pulls-8m-series-can-only-watched-nft-holders/

https://usa.visa.com/visa-everywhere/blog/bdp/2021/08/18/nfts-mark-a-1629328216374.html

https://www.cnbc.com/2021/08/25/12-year-old-coder-made-6-figures-selling-weird-whales-nfts.html

https://opensea.io/collection/weirdwhales