RE: ThreeTuneTuesday - BlockTunes, the Future of Music?
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Yeah, people are not understanding the value that these Masters can have if the platform really gets going and are selling themselves short.
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Aha! Thanks for raising this important point. Actually, could you elaborate on it a little? Who is selling themself short, and how?
See, I chose to buy the 4 HBD master of this song, simply because I wanted to support a fellow Hiver I've been following for years. But, let's say I find some music that I like, by someone I have no contact with. Of course, eventually I'd get to know them, become friends, etc. But until then, it's all about the music. If I see potential in it, and I can buy a master, I want to do it for the lowest price I can get. Also, by choosing the expensive master, I leave the cheap ones still available to other potential buyers who don't want to spend that much on the song.
The artists need to figure out how to value their work and the future potential streaming rewards are worth to them. Of course you are going to want to get them cheap, but in the grand scheme of things, $1 for potential life time income is nothing. So artists need to look at that and price accordingly. I mean, I have songs out there in the mainstream world that I have sold the publishing and commercial rights for for thousands of dollars. So again, it's how much the artist values their work.
So basically if an artist only values the streaming income rights to their work at $1, then that's what they will set it at. I would personally look to go higher, but I value my music, so there is that.
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Well sure, but it's all supply and demand. If someone was selling a song for a hundred bucks, I don't think I'd buy it. Ten dollars, in very exceptional cases. One dollar without much thinking.
Also, we're talking about Masters on BlockTunes. Owning one will give me passive income every time someone listens to that song. The amount is dust, but over time it could accumulate. That's it, though. Owning a master does not give me any commercial rights, does it? I don't even think I could incorporate it into a video I create, without at least asking and coming to terms with the musician who created it.
I get your point, and it doesn't help that Hive is essentially dust these days, which has been a consideration too that Hive is just a dying chain all together. But the fact that it's the only chain that can really handle what we are doing as far as the resource costs, it's what we have to work with. Artist are free to price as they wish is all I am saying and if they want to sell one of their 10 masters for $1, then cool, that's on them to do! If they want to try to sell them for $100, then cool, that's on them and they need to accept that they will probably not sell.
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Hahaha, true, these supply-demand issues were part of the discussion from the beginning. And I love it! There is no one telling you anything. Or sure, everyone is telling you lots of things, but then you can decide where to put your money, how much of it, and its 100% up to you. If in the end you make great winnings, or great losses, that's also up to you.
And yes, projects have failed, people have left, and the price of the coin is where it is. Still I would not call it a dying chain. After all, there are still people using it, new projects, and things are still happening. In fact you could say the whole cryptosphere is dying... but then suddenly ETH is above 1900 (not that matters much). My point is, until the shutters are completely drawn, we're still here, and doing stuff. Which I appreciate, by the way. Thank you!
You're welcome. Thanks for the appreciation. Most devs don't get that these days. It's usually, 'why can't you build it like this?' Or the 'what can I get for free?' mentality. Kind of puts you in a place where you feel like nothing will ever be enough. I appreciate the few that have stepped up to actually try and use the platform, so in return, thank you.
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