apparently all the commotion about the gamestop microrebellion (which, its safe to say now, was rlly nothing more then right-libertarians asking to see the manager of the nyse and getting shooed out) as lead to a new popular interest in cryptocurrency and blockchain, and one the major things now is selling non-fungable tokens, lil packets of crypto data that are non-currency and are made one-of-a-kind for artificial scarcity. this is has been getting hype and debated furiously in the fine art world for apparently a while now, but now its coming ahead to music with the announcement of this edm artist 3LAU (who i enjoyed a lil bit before in my edm years) selling NFTs of his new album, first of its kind
mind u, this isnt even the artist selling u portions of the ownership of the publishing or recording copyrights, thats still controlled by 3lau, like most of the fine artists selling their work thru this. nah, this is the artist selling u an NFT associated with the art. its trading card collecting. thats all it is. u own the special limited edition rookie card of ultraviolet by 3lau. maybe if that album becomes a massive critical classic in the next 10 years, maybe that digital card will be worth a lot of BTC and ETH in the market. maybe.
i think the most overt display of the snake oil of all this is youtube star, amateur professional boxer, and beloved exploiter of dead japanese suicide victims logan paul selling, i shit u not, a PNG of a shitty deviantart-core anime drawing of him holding rare pokemon cards for $2k a pop. mind u, this guy, and a lot of the youtube elite (which steve aoki is a part of now as well, apparently), have been inflating the pokemon trading card market with unboxing videos of decade old packs in search of capturing rare cards and “a piece of my childhood back” (shut up fuck you), so this is def eyeopening on multiple levels.
so what do yall make of this? because this is not to dismiss the possibities of blockchain on making music industries more equitable outright – dryhurst has been p openly skeptical of the nft trading gifs thing, but points to possibilities for blockchain to help sort out instant mechanical rights payment for in(ter)dependent artists in their tracks’ use in dj mixes on the radio and in the club (and richie has spoken about this as well). i think mat kinda said it in the best way to lead of a wide discussion here: