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Nice job on the song JoAnnne! And yeah, keep us informed!
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The value of NFTs is entirely based on the expectation that the future value of the NFT will rise, because people are expecting someone in the future will pay more than they did. ... which is, of course, the way all speculation works, from commodities to art. The trick is to estimate the effect well, and often enough, to gain more than the bad estimates lose. Exactly! Could not have said it better myself.
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This is getting ridiculous. I can also use google https://river.com/learn/can-bitcoin-be-hacked/The world is made up of nearly 8 billion people. No matter how outlandish a particular pov is there are bound to be plenty of others out of that 8 billion who think the same way.
Last edited by JoanneCooper; 04/01/22 05:01 AM.
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Yeah well I’m willing to take that risk. As I said, smart investors know how to mitigate their risks.
I think it is a GREAT opportunity for independent artists who have been at the mercy of “the music business” and record labels in general. Do yourself a favour and go and watch Searching for Sugarman if you think the old way was better.
Last edited by JoanneCooper; 04/01/22 05:11 AM.
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I completely agree with you that NFT is an opportunity for creatives. I have read widely on the NFT system, as I have since the blockchain was conceived. My point was to inform the forum in general that nothing is 100% secure. As we are talking very tiny amounts of money of course it is worth a punt.
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Yes! We are on the same page there.
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Using the word "investor" is probably not the best way to describe buying digital assets...and are they really assets?
Speculator is a more apt term.
The only thing I will say further is that I kinda wish I had bought a few thousand bit coins when they were about a penny each. But who knew!
You can find my music at: www.herbhartley.comAdd nothing that adds nothing to the music. You can make excuses or you can make progress but not both. The magic you are looking for is in the work you are avoiding.
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On a lighter note: my first NFT has been sold out! To one collector! This looks very positive. Im'gonna try another song  This is interesting. I have questions if you don't mind. First, if am I understanding this correctly, - you set up this song as an NFT with 25 copies to sell - you sold 25 of these to one collector but they could have sold to multiple (up to 25) collectors - they sold for approximately $1 each - you got 90% of that amount (approx. $22.50) - if the NFT collector (who bought all 25) sells any or all of these down the road you will receive 10% of that sale amount - and you continue to earn 10% on all future sales (if any) of these NFTs 1) were there any fees at all to do this (not including the license fees because it is a cover)? 2) did the collector who bought this already know you and your music? 3) why did you choose a cover instead of one of your originals? I assume it was in the hope that song name recognition will help it's success chances? 4) how would one promote their NFTs? I assume, just like Bandcamp and Spotify, you couldn't reasonably expect to be randomly discovered. 5) was the process from start to finish easy or complicated? 6) what made you choose mintsongs?
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Hi jx3
I have now published 5 songs. I am experimenting with different quanties and prices.
1. Fly me to the moon. 25 editions. All sold immediately to one investor
2. Diary. 50 editions. Only one sold so far
3. Three original songs. 1 edition each. Two have sold to one investor. The same person who purchased Diary.
I am increasing the price very slightly each time. I think the last original song was about $2.
To answer your questions.
1. No there were no fees. Mintsongs take a % of each sale.
2. I don’t know who the investors are. It only shows a nom de plume.
3. I figured that covers would be easier to sell because people would recognise the name of the song and we’re more like to listen to it. I think Diary was a bad choice because people don’t know that song. I may try out well known public domain songs
4. I’m not sure how you get discovered. I think you have to try and reach music lovers who are interested in collecting NFTs. I had very little interest in the post I did on my Facebook fan page. Yesterday I was trying a Facebook ad to target people who are interested in NFTs but I couldn’t figure out how to do that. Perhaps I will try google ad words. As we can see from all the negative responses to this thread these types of music lovers are few and far between!
5. It is very very easy. To mint a new song takes a few minutes. To get the License for cover takes a couple of days though.
6. I don’t actually remember why I chose mintsongs. I may have seen a fb ad?
Last edited by JoanneCooper; 04/02/22 08:59 PM.
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Thanks JC! Really appreciate you sharing these details!
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Thanks JC! Really appreciate you sharing these details! It is an absolute pleasure! Let me know if you do mint some songs.
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How much is a Compulsory Mechanical Licenses?
Music is an expression that is a universal language, Never criticize anybody to harshly. They need time to grow but when they do, they do. Always be kind in what you say and do because the man upstairs is watching.
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How much is a Compulsory Mechanical Licenses? It depends on how many copies you want but starts at around $20 for 25 https://www.easysong.com/default.aspx
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Hi all. For anybody who is interested, I am going to be running a two hour zoom webinar to help people release their music as NFTs. I will also go into what NFTs actually are and why you could consider them for your music. You can keep informed of this webinar by adding your email to my list here. https://www.joannecooper.co.za/newsletter
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Hi all.
If anybody is interested in learning more about my NFT journey, I held a two-hour Zoom webinar last night (11 May 2022) and went through what I have learned in detail, answered questions and showed around inside my Mintsongs account where I have been creating these things. PM me if you are interested in learning more.
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The NFT, that some guy paid a huge sum, for the first ever tweet by Jack Dorsey (Twitter founder) recently only reached something like $280 at auction. He wanted 50 million. It was a digital file of a static image of the 5 word tweet stored on a block chain and sold for 2.9 million originally. Granted a very inflated price to begin with. It is a scam the likes we have never seen.
My wife asked if I had seen the dog bowl. I told her I didn't even know he could.
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