You're purchasing a link in the blockchain that says you "own" what the link points to.

You might wonder what rights are conferred to the purchaser of the music NFT.

It's not "unique access", since anyone can go to the web page and play the song themselves. This is probably a grey area, since Joanne's mechanical license is only for "25 Digital Downloads", and that doesn't seem to be enforced by the website. But that's an issue for the website to enforce, not Joanne.

The purchaser of the musical NFT can't sell a copy of the NFT, because they don't have a mechanical license for that. The mechanical license that Joanne purchased gives her the limited right to create covers of the song. This wouldn't be necessary if she owned the mechanical rights to the song herself (say, one she wrote herself).

But this mechanical license doesn't transfer to the person who purchased the NFT, so they wouldn't be able to make copies of the NFT without purchasing a mechanical license for themselves, the same as Joanne needed to.

The purchaser of the musical NFT also don't have the right to play the NFT publicly, as that would require a public performance license.

The only transferable right the purchaser has is to sell ownership of the link.

So the actual value of an NFT is... zero. It's pure speculation.

-- David Cuny
My virtual singer development blog

Vocal control, you say. Never heard of it. Is that some kind of ProTools thing?