Collectibles, Music & Sports in the world of NFTs
Dear EveryNFT- Community!
In case you were wondering — we are not resting!
As you all know, we launched the Cyclops this week and are currently building the WomenHackersClub. But apart from the collectible world, we were also looking at other use cases to expand the EveryNFT brand and support bringing the favorite technology of all of us to different industries.
We are all about democratizing art and giving back ownership to the artists. Therefore, we were taking a closer look at the music industry this week. Did you know that as per Fortune Magazine, only 50 % of the revenue generated from streaming goes to the artists? That is one of the many issues that can potentially be solved with NFTs. Not only could the artists profit from the immediate first sale and get a fairer share, but also could they benefit more from secondary, tertiary, etc. sales. But, also the creation of a community can’t be neglected. Of course, this is all very early stage and there are still some flaws to it, but we are closely observing what is happening and are searching for our position here. So do companies and brands like Spotify and Snoop Dogg focus on the NFT market as well. We also observed that the German rapper Haftbefehl just got pretty negative feedback for his announcement to launch an NFT collection.
Another big sector we are currently looking at is sports (soccer, especially). Here, community and democratization are also big factors. Rewards and voting rights could be introduced to increase the engagement of fans. A recent example in that context is Liverpool’s NFT collection cooperation with Sotheby’s. How well that plays out will have to be seen. We are aware of the fact that the whole crypto and NFT sphere is critically viewed by many people. Not least because the introduction of fan tokens such as Chiliz can rather separate fan communities than unite as they are highly speculative, have no emotional or artsy value, and have no real utility except choosing the music of the stadium. Therefore, many fans feel that fan tokens are just another way of monetizing fan culture. We see those concerns and agree with them. Nevertheless, NFTs are different than a simple token as they can create high emotional value and art entitlement. Moreover — as all of you know, NFTs can have high utility and can therefore be tied to many different benefits for the holder.
All of this is just a long way of saying: We are actively observing the market and acknowledging the potential issues. At the same time, we believe in NFTs and think that we are the right team to support user experiences throughout the industries.
We love to hear your thoughts on it!
Have a great week everyone!
Your EveryNFT Team: