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He told Cointelegraph: "We aim to bring more control to the end-user. Dino Ivankovic, head of business development at Revuto explained how these subscription-based NFTs could become an ecosystem of their own. A total of 10,000 users would be eligible to get their hands on the unique subscription model.

Revuto said it would offer a lifetime digital subscription for Netflix and Spotify via its Revolution NFT. I wrote about Music NFTs in-depth in this post, summarized with a broad layout of the current landscape for those unaware.On Friday, Web3 subscription and ticketing solution provider Revuto announced a novel subscription model for Netflix and Spotify, using a nonfungible token (NFT) solution. They are the bedrock of Creator DAOs and the first step towards music micro-economies. You don’t need to be a pop star to make a living - Music NFTs allow you to maximize your earnings potential with only a few dedicated fans. It is the direct monetization model to tap into an artist’s 100 true fans.

While Music NFT sales can be largely dependent on the macro state of crypto, the benefits of a dedicated collector base of superfans holds true in any market condition. In contrast, Music NFTs are selling for thousands of dollars - posing a strong argument that building community in web3 is more advantageous than playing the numbers game on Spotify. There are platforms like Royal exploring Music NFTs with royalty rights, but for this article, we’ll strictly focus on Music NFTs as collectibles.Ĭollectibles offer the most direct and simple monetization mechanism given the lack of regulatory hurdles incurred when the artists own 100% of their rights.įor those unfamiliar, traditional streaming platforms like Spotify pay ~$3,700 per million streams.

In a world largely dominated by streaming and touring, Music NFTs offer artists leverage by building a community of superfans eager to collect scarce digital representations of the work.

They carry no inherent ownership rights and merely exist as an asset that can be bought and sold by a collector. Music NFTs are a new monetization model for artists.Īt its core, Music NFTs are simply digital collectibles.