There is now a growing appetite for innovative revenue channels. Artists dream to work closer with their fans and to monetise their audience more effectively. NFTs can accelerate the trend of creators monetising directly with their fans. Social platforms will continue to help build audiences (although these should probably be replaced with superior decentralised alternatives), and creators will increasingly rely on other methods, including NFTs and crypto-enabled economies, to make money.
For several years now, we have been talking with independent and globally renowned artists and labels and we understand that the music industry is in constant search of new sources of revenue.
Until now, NFTs were not ready for a large scale due to ETH scalability problems. Today, new protocols, such as Polkadot, Cosmos, Solana, Polygon, promise to offer the scalability necessary to plan long term, allowing for immediate market entry.
NFTs contain highly trustworthy documentation, detailing their history and origin. They can also have an attached code to do almost anything, like ensuring the original creator receives royalties from secondary sales.