The discovering of rising talent and bringing them before record label execs was just what A&R reps have always done. Likewise, a major label, publisher, or independent has always turned to A&R professionals for curation and discovery. But what if a platform came along that democratized the visibility of artists? When musicians are less likely to be waiting to be signed on as talent and can bring their expression to market on their own, things may very well shift.
Non-fungible tokens, or NFTs for short, give a buyer the individual rights of ownership over a digital file. Consider if you bought a piece of art while knowing it was indeed one of a kind versus purchasing a cheap copy. The unique piece will be of much greater value. Digital sketches, paintings, and other crafted art have been truly impressive in the online arena. My question was just what that same tech could do to the music industry when music NFTs broke loose. These are my findings:
- NFT market surpassed $40 billion in 2021
- Total revenue of the recorded music industry stretched to $23.1 billion in 2020
- Chatter about music NFTs is becoming more than online talk in the 2020s
- Artists direct grew by 34.1% in 2020 and broke the billion-dollar mark
While the forums and Discord chats had been buzzing with rumors of an NFT platform that could shake up the music space, I needed to dig deeper to find out what was truly taking place behind the scenes. I found an organization that was hard at work and in contact with emerging artists and even rumored to be in talks with major artists building out the same platform that many suspected was on its way to the marketplace.
The marketplace is showing excitement for these art pieces, and the cryptographic math that supports security in the blockchain helps them. As a result, fewer go-betweens, secure transacting, and top-notch art is on tap in a new way.
The End of the A&R Era?
I could not initially confirm the platform existed, but after rooting through press releases and message boards, all signs point to “yes”. The brand Nifter and its parent company Clickstream was the force behind the action. Breaking away from record label A&Rs who take back marketing dollars that propel artists, this platform could change the discovery of musicians. Nifter may even shift how artists craft genuine expression.
Artists may create tokenized versions of their art that are much more valuable than duplicates. This possibility is grabbing the attention of musicians, and even some legendary names are beginning to take notice. Artists can engage with their artists through one-of-a-kind album art. The NFTs can be transmitted securely and even come with access to future events or promotions.
While NFT art is relevant to the music industry, it may impact all industries. Revenue sharing has not often been favorable for creatives who seem to come last on the list of those receiving compensation for their work. Even online streaming, which is the preferred method for modern music, carries fees that are not there when artists bring their music to market via a non-fungible token.
Digital art is here to stay. Finding out how far new tech in this creative space will go requires further careful review. Creatives, consumers, and yes, even record execs should note what is shaping up in the music landscape. NFTs are collectibles and so much more, and investors and beginning to see that reality. Nifter offers artists a unique platform to broaden their reach to those who can see the writing on the wall. It may lead to early adopters finding success that is much more robust than any rumor.
Clickstream Corporation has seemingly entered into minting agreements with emerging and major artists, spelling something genuinely unique for the public. The stakeholder value that Nifter can drive is not like platforms in the marketplace today. It is my view that investing in Clickstream, the company behind the music marketplace, before the major news breaks loose and the platform launches would be a wise consideration for those who are ready for the ride. These findings are forward-looking, and investors should assess their risk appetite and do their due diligence for any investment they consider. Nifter is owned by publicly traded Clickstream, found on the OTC Markets.
DISCLAIMER: This article is strictly the author’s opinion. all stocks involve risks and the possibility of losing all of your investment. please consider all risks before investing and consult with an investment advisor if you lack experience. article provided in part by strategic innovations who are paid for by the companies for social media and research.