I have tokenised two items – a photo of mine and an MP3 file of a piece of music with cover art – see my SimpaticoCrypto Storefront.
Items For Sale – Art and Music
The first item is a unique photo of a well known beauty spot. If the photo were to sell, the new owner would be able to sell it on, make copies, posters, or rent it out to other stock libraries – this is why the price is relatively high – because I choose to transfer these rights in this instance. There are many options in stock photography as far as business model is concerned, from ‘renting‘ the image to outright ownership.
The second item I have tokenised is a recent musical release of mine – an mp3 file along with artwork. It’s a ten minute piece of meditational relaxing synthwave. This purchase would be similar to buying and downloading the track from iTunes or any other online retailer. You would not own the rights to the track, nor the rights to sell, trade or duplicate the file, but you would own your own copy in perpetuity. This is very different from subscribing to a streaming service like Apple Music or Spotify, where you rent the permissions to have access to the track[s] as part of their vast library – as long as you keep paying every month.
Future Of NFT – Zilliqa and Cardano
It’s been great putting these items up and tokenising some real world art that I’ve made – partly because I’ve been a long term Zilliqa fan, but also because it allows me to work with NFTs in advance of Cardano’s Goguen launch [see next post and podcast] and my goals with Cardano Foundry.
If you’ve not checked out the Zilliqa range of merchandise, it really is impressive. I’ll be getting some early next year when funds permit!