🎙 How Royalty-Backed NFTs are Challenging the Music Industry
In this episode, I sit down with Morkeeth and Michel Traore, the founders of Anotherblock, to explore how they use royalty-backed NFTs to create a secure and seamless way of buying and selling music.
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🎙 New Podcast Episode
Mint Season 7 Episode 22 welcomes Morkeeth and Michel, the Co-Founders of Anotherblock. Throughout the session, we discuss how their platform connects traditional music ownership via streaming revenue with NFTs for buying and selling music onchain. The conversation touches on what they claim to be the benefits of royalty-backed NFTs over other forms of music NFTs, the psychology of pricing, and the grey area of whether or not these assets are an unregistered security. This conversation is not intended to be financial advice, strictly informational as it goes with every conversation on Mint.
So without further ado, I hope you enjoy our conversation.
0:00 - Introduction
5:25 - Why People Should Feel Entitled to Own More of the Value They Create
7:48 - The Mindset of the Average Person Scrolling Through Tik Tok and Contributing to the Virality of Today's Music
10:03 - Will Collecting Tokens Become the New Form of Showcasing Fandom on a Greater Scale or is It Limited to a Few
17:20 - Thesis for a Crypto-Enabled Music Industry
20:05 - Royalty-Backed NFTs
22:34 - Psychology of Pricing and Decision-Making Processes
26:38 - Do People Mint NFTs Out of Emotion or for Investment Purposes?
28:43 - Benefits for Individuals Who Take a Percentage of Royalties
30:04 - Rihana’s NFT Launching Right Before the Superbowl
36:13 - Securities Laws Around Associating a Royalty with a Music NFT
40:06 - Common Misconceptions and Potential Backlash from Labels and Artists
41:17 - The Possibility of Paying Individuals per Second or Minute Rather than the Typical Few-Month Period
43:09 - Anotherblock’s Future Plans and Roadmap
44:12 - Outro
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