NFTs are growing in popularity with some up-and-coming visual artists. They see it as a way to connect directly with their followers and create another revenue stream. But those artists are also still trying to navigate the complexities of this new technology.
Source: Visual artists see opportunities, challenges in the NFT space – Marketplace
Tom Allen, founder of Curve Royalty Systems, urges caution and patience for those pinning their hopes on a tech-driven miracle. The major stumbling block in the adoption of blockchain technology, particularly in applications such as managing royalties, is the sheer scale required to do so effectively at a truly global, industry-wide level.
Source: Yes, Blockchain might well revolutionise music royalties. No, it’s not going to happen anytime soon.
For years we’ve been forced to attempt to explain the virtues of Blockchain — which is inherently (and unapologetically) technical — without the benefit of use cases that make understanding much more achievable. Of course, what has finally led people to “talk” about Blockchain tech without saying the word “Blockchain” is the NFT.
Source: Now we can stop saying the word “Blockchain” thanks to NFTS [George Howard] – Hypebot
WarnerMedia CEO Jason Kilar said the future of Hollywood is in the blockchain as he prepares to leave the media company that he helped lead into the streaming era. “I think that’s going to be a potential wave that’s going to be coming to Hollywood, in the same way that the DVD wave came to Hollywood in the ’90s,” Kilar told Reuters in an interview.
Source: Departing WarnerMedia CEO Kilar sees future of Hollywood in the blockchain
Nearly two years after it was first announced, Epic Games has released its next-generation game engine. The updated engine features a number of improvements for developers — including enhanced performance and an upgraded UI — but the most significant changes come from a handful of technologies designed for more photorealistic visuals.
Source: Epic launches Unreal Engine 5
Founded in 2020 in Taiwan, Melos Studio is a new unique create-to-earn music ecosystem on ETH, BSC and FLOW blockchain. The Melos platform is dedicated to bringing not only music enjoyment but also NFT adoptions to the next level, empowered by powerful tools and feature package for content creators and participants.
At the moment, the market is relatively small. Publicly funded galleries are wary of cryptocurrencies, and, for those immersed in that world, digitalized old art doesn’t have the speculative cool of “native” NFTs, like CryptoPunks or Bored Apes, which can sell for millions. As yet, no museum NFTs have achieved attention-grabbing profits on resale platforms, such as OpenSea.
Source: Museums Are Cashing In on NFTs
As musicians and other creative producers assert more control over their future sales and blockchain technology has allowed for easier tracking of intellectual property, two Stanford alumni have started a business to help visual artists reap the financial rewards when their work is resold privately or comes up for auction, in some cases at many multiples of the original price.
Source: Tech Start-Up Aims to Get Artists Royalties for Resale
A couple of new job listings from Spotify (h/t Financial Times) suggest that it could potentially breach the NFT world soon. Both listings show that the company is looking for people to work on projects related to “Web3.” One of the recent Spotify job listings is for a Senior Backend Engineer. The listing describes a role on a “small and full-stack team responsible for driving growth through new technologies, like Web3.”
Universal Music Group is capitalizing on the popularity of non-fungible tokens by acquiring one of the cartoon apes that have taken the world of digital collectibles by storm to lead an entirely virtual music group. On Friday, Universal’s 10:22PM label said it paid $360,817 to purchase Bored Ape #5537 – a female character now known as Manager Noët All, to lead the group it founded in November called Kingship.
Source: Universal Music label acquires ape NFT to lead virtual music group