What is a Sound Recording NFT
Here, sound recording artists tokenise their creative sound recordings, including voice-overs and music soundtracks, before they present them to fans or companies who would want to use them for commercial purposes.
Pros of Sound Recording NFTs
— Sound recording artists gain access to an additional amount of revenue. Tokenisation enables them to fractionalize the efficiency of their sound recording contents. The overall net effect is more organizations or companies using the sound recording for commercial purposes will be able to pay for the use because NFTs will make it easy to track usage of such contents.
— Eliminate theft of sound recordings intellectual property. Theft of intellectual property is a serious problem in the art industry. The fact that a tokenised sound recording can be traced through the blockchain network means any use, be it as a movie soundtrack, will be traced and royalties collected on behalf of the creator.
— Real-time recording and commercialisation of sound recordings. Tokenisation eliminates the need to look for a third party to approve your sound recording content to be put on their platform for use. Here, all you need to do is to create and put your content for the community on the NFT platform to listen to it and approve it. From there you can easily commercialise it as you wish
— Increased transparency in the royalty collection. As an artist, you’re able to monitor the source of revenue, who bought into your content, and how much they paid for it. The higher transparency in revenue distribution means you don’t have to rely on the centralised revenue distribution authorities with their unfair and less transparent revenue distribution formulas.
— Increase engagement between you as a sound recording artist or creator and fans and followers. An engaged community is a powerful community. When fans and followers can share what they think about your sound recording, you can only strive to improve based on their desires and wants.
— Lowered chances of sound recording manipulation and degradation. Sound recordings can be manipulated computationally, which can degrade their originality. With a tokenized sound recording, this manipulation and degradation are not possible, which allows you to exclusively own the quality and intellectual property of the original sound. Any manipulated sound recording will attract more revenue streams.
— Create more value for the artistic work of sound recording. With a tokenised sound recording, you as an artist can watch the trend of what sells, and adjust accordingly to suit your client’s needs. Market insights will help you target the right clients with the right sound recording content.
— Creates a more close and direct relationship with fans. Once an artist can involve fans in their art, the relationship will flourish, which brings out the artist’s identity in terms of their content and more attachment between the two parties. More popular sound recordings in the community earn more revenue.
Joining NFT Intellect will enable you to create NFTs for your sound recording content.
Our platform allows for the efficient creation of artist tokens as well as giving you a mechanism as an artist to offer value to your fans. No huge upfront costs. Take up a monthly membership to spread the costs of maintaining NFT contracts, tracking royalties, and payment owed to you.