I prefer the RFTC tattoo approach to this to be honest
as a band/label/promoter/whoever isn’t it just easier and less risky to all concerned to just say - 1% of all ticket sales from this tour go to greenpeace/spaceX whoever? Or you get a hand stamp or a physical token at the venue if you turn up before the first band.
All feels a bit like when people went on about ‘the internet of things’ what 10 years ago?
How the internet would connect everything and change everything but no one could really explain how beyond your fridge will tell you when you need milk in case you didn’t want to look inside the fridge for some reason. Now some people have those doorbells that seem to be the same as intercoms anyway.
Yeah they probably could. Or pre-bundle it into the ticket somehow.
Not saying it’s needed, was just some off the top of my head reasons why people are excited by the new possibilities.
I mean, taking it further, if every ticket was linked to say last fm, the name could augment their set list choices based on the fact loads of people there that night love a rare track or all love the same song so save it for the finale… that isn’t something you could easily do with Ticketmaster (who don’t even share the contact info of fans, so you’re constantly remarketing tours to people who’ve been to previous gigs, which is essentially wasting money as you know they’re fans)
Yeah it could be, but what if you can’t afford to make those donations unless you sell over 80% of tickets? And how, as a fan, would you know that donation actually happened? Some of this tech does allow for more transparency (apparently, I haven’t fully gotten my head around it all as so much of it doesn’t even exist yet)
Isn’t one of the big issues with all this the fact that the cryptocurrencies that all these NFTs are bought with varies in value so frequently?
Like you’d be frustrated if your band was selling their gig tickets as NFTs, but that day the price of ETH was spiking so they cost 50% more than they would if you bought them another day.
Not as frustrated as the band cashing out in the dip
You can buy an NFT using pounds sterling or dollars or any currency.
Like you can buy this limited edition Jungle album for £299 (if you really wanted to)
In this case, given that you’re buying a physical thing, what is the NFT offering?
Proof of ownership. That’s all an NFT is really. A token attached to a file or a product. It means if it’s resold there’s a log of it and possibly extra digital elements included - plus with a smart contract there could be further payments to the artist if it’s sold over a certain amount (don’t think there is in this instance)
Going back to tickets, this would stop you from buying a fake ticket and also link back a chain of previous owners of a ticket as everything is logged digitally.
The thing to keep in mind is that these examples only make sense at scale or over time.
For instance, this might make more sense if you bought a signed guitar and if it was logged, you could see all the shows the guitar was played at… and I guess in some ways could have bragging rights that could seen by a community of fans online, rather than just having it in a glass cabinet in your shed or whatever people do with these things. But if you wanted to resell it, you’d have proof you bought it from the band and that it’s legit.
Is there any demand whatsoever for this though? Unless there’s a massive counterfeit guitar market I’m blissfully unaware of this just feels like an overengineered solution to a problem that doesn’t exist.
I think certificates of authenticity are pretty standard in some areas, especially with reselling high end fashion (I hear you can’t list certain items on eBay without proof of ownership)
This might simplify and give people more faith when buying these types of items, especially if they’re doing so with a view to one day resell.
CoAs are a thing for custom shop instruments and that kind of thing so it’s sort of a thing.
I agree that any blockchain thing isn’t really a solution here and I’ve got a pal who works with inventors in this field who agrees with me so I don’t feel like I’m missing something.
Through work, I keep coming across suggestions to use blockchain to track supply chain stuff, e.g. you want to know that your rare earth metal has been sourced from a legit mining operation and not somewhere in the DRC that’s sending toddlers down mine shafts so Elon can go into space. There are already platforms that do this.
The fundamental problem is that you just shift the risk to whatever it is that’s linking the digital token to the physical object.
Yeah this is another thing I’m very skeptical about. If some collector decides they want to keep the original but still make some money what’s to stop them buying an identical guitar and switching the serial number then selling the knock-off and the NFT?
Every potential usage of this tech mentioned in this thread either already exists and wouldn’t be improved by an NFT or doesn’t exist because there’s no demand for it.
The demand will be artificially created i’m sure - much like it is being at the moment
are you aware of Nina @sean ?
Is this similar to the kind of thing you were talking about? Looks quite interesting to be fair.
Nationalised
Fleshy
Tubes
Swear to god I was literally going to make a thread yesterday saying “I reckon one of the dictionaries is going to make fungible or NFT the word of the year” and then I didn’t.
Millions I could have made out of that. Millions. Oddly fitting.