The GaryVee Audio Experience How NFTs Are Going To Change The Music Industry Forever
Oct 17, 2021
In this insightful discussion, recording artist Farruko shares his perspective on how NFTs are revolutionizing the music industry. He emphasizes the importance of understanding NFTs for artists, allowing them to connect with fans and keep more profits. The conversation also covers the challenges of launching NFT projects and the necessity of strategic brand partnerships. Farruko highlights how platforms like TikTok are essential for maintaining relevance and engaging audiences. He underscores the importance of authenticity and adaptability in today’s music landscape.
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NFTs: Beyond the Hype
- NFTs are more significant than the current hype around money.
- They represent a fundamental shift like the early internet, with long-term implications beyond initial financial gains.
NFTs for Artist Funding
- Emerging artists should use NFTs as a funding mechanism.
- Offer fans album art, Zoom meetings, and royalty percentages in exchange for NFT purchases.
NFTs Disrupting Record Labels
- NFTs are the biggest threat to record labels since Napster.
- This is because they empower artists to raise funds directly from fans, disrupting the traditional label model.