*NFT's overcome major challenges in music and ticketing*

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(Edited)

Do you know that Non fungible token (NFT) can change music industries for better?

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Music

You might be thinking the connection between music and NFT but the fact still remains that NFT has defected so many challenges that faced some other organizations not just within digital presentation in artworks.

NFT for a fact can bring great progress to music industries in the following ways.

  • NFT can become a new way of gathering music, selling music and also producing music and this will help because music NFT will be so unique and can be auctions in the Blockchain as music video and it can go a long way of having NFT album.
  • NFT music can produce tokens that can be used as money for concert tickets, this will help musicians to get more money from thier hard work.
    Music NFT will not only benefit the industry and the artists it will also profit music lovers because they will get financial share as they purchase Music NFTs and this is unique because it's not something viral.
* You might be wondering how will music NFTs work*

First a singer or an artist will create a unique album, then the music will be modified and be attached to a smart contract Blockchain, this will assist in monitoring and managing transactions between users.
After that the music will be out and people can buy it online.
Music NFTs protects artist from scammers because the music is so secured no one can duplicate that same music.
This is so good that an NFT music artists decides how many copies of music he wants to produce for an certain exchange while the buyers can now trade it on crypto exchange.

In summary NFT will help music industries make more money from music because they will have much people to sell to it will not just be in one place there will be much circulation than before, music NFTs will reduce illegal reproduction in music industries which have been a great challenge for so many years now.
Music NFTs will open more business opportunities to the musicians because they will have direct connections with token holders and this will support our community so much.

For example most tracks have never been heard by any other country except where it was produced but with music NFT there will a great change because those musics will spread to different countries.

keypoint

music NFTs have the ability to positively transform the music industry for both creators and listeners it will reduce piracy, boosting artist incomes, lastly it will create close and supportive relationship between fans and musicians.

NFT Ticketing

NFT in general increases income ratio, and this will affect our community in a positive way and reduce corruption and crime.
NFT ticketing is another way to help event owners make more money from thier events and also see the needs to belong to a decentralized society.
Once event planners set up a smart contract that will look over the fees they charge this will help them generate more income whenever buyers resell thier NFT tickets.
Another way this helps to generate more income is by reducing the charge which attracts a good number of Blockchain users to the event.
Most importantly NFT ticketing do not give room for fake tickets so there will be no fake or counterfeit tickets and there will be much accuracy and less errors.
NFT helps in the decorum of an event because it can be used to fecth out some important informations like ones behavior and age even ones resident.
On the other hand it can save as a market strategy because you will know what a particular group of people needs for entertainment.

Today some sectors like the, Coachella, NBA, VeeCon
are using NFT ticketing and honestly it has helped them to be among the largest festival centers and event center in the whole world, and this is a sign that in future most event owners will need it in other to meet up the standard of life.

Summary

Let's discuss more about NFT in use case in the comment section.
Thank you all.



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3 comments
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I think there is potential but as an NFT is just a treasure map and not the treasure, I am interested to learn how artists can get paid for their work. If it is easy for the consumer to preview, purchase and then 'refer' other users to that track, perhaps get a commission when friends they share the song with buy it. It should put all the rights in the the hands of the Artist and whoever else they want to share the ownership with. There are some projects claiming to do this but who can review the code to make sure these things are legit? Its all so experimental. These are my ideas.

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Smart contract makes it very easy to track transactions and put to record how everything goes on, withdrawal is made possible through any crypto account that's using smart contract.

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(Edited)

Your ideas are good, thank you for sharing.

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