One of the most interesting things about NFTs is that some, but not all, come with very permissive licensing. What this could mean is that, as a holder, you are free to do whatever you would like with your NFTs, including creating businesses on top of them or using them for other commercial purposes. This is fascinating to me and I like NFT projects that adopt this open approach.
In the past, we have talked about Bored Ape Yacht Club owners creating things like restaurants on top of their NFTs. But here is another more recent example: An NFT from the CyberBrokers collection has just been signed to a Web3 record label called Player Zero. This is the company’s first “Animated Virtual Artist”, and her inaugural album is available for streaming here, as well as from places like Spotify.
This might sound kind of crazy if you aren’t following the crypto space. But is it really? We already have virtual influencers with millions of followers, so why can’t we have virtual pop stars being signed to digital record labels?
I don’t know what this will ultimately mean for the holder of the above NFT, but imagine a world where the owner automatically receives X% of all the proceeds produced by the virtual artist. Now all of a sudden you have a cash flow stream that can be evaluated using traditional finance methods and an asset that can be valued and traded.
Full disclosure: I own multiple CyberBrokers.
The world you’re imagining is on the cusp of becoming reality.
Above is an interesting read from one of the brightest minds in applied cryptography. I can’t wait to see what will be in store once the issues surrounding decentralized digital identity are solved
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Great link. Thanks for sharing.