NFTs: Bridging the Gap Between Musicians and Fans
Nonfungible tokens (NFTs) gained immense popularity in 2019 but suffered a decline during the crypto market contraction. Instead of dismissing failed NFT projects as scams, it is important to analyze what features were necessary for success. In a recent podcast episode, Miles, a Web3 developer and creator of FanSociety, discussed how the platform borrows elements from traditional fan clubs and crowdfunding to support musicians. FanSociety aims to connect creators with their audience, reward loyalty, and facilitate organic growth, unlike current NFT collections which often have fixed sizes and require new contracts for expansion.
Miles believes that limiting the availability of NFTs is elitist and contrary to the principles of Web3. He wanted to create a platform without such limitations. Another challenge FanSociety addresses is revenue sharing. Currently, popular streaming platforms and record labels take a significant portion of a creator’s music revenue. Platforms often withhold a large percentage of tips from fans. Miles believes that fans should receive more value and that NFTs can serve as a meaningful way to express appreciation. He wants artists to have the freedom to decide how they reward their supporters.
The podcast episode provides further insight into Miles’ plans for FanSociety and its role in supporting artists. Listeners can find the full episode on ‘s Podcasts page, Apple Podcasts, or Spotify. It is worth exploring ‘s other shows as well.
NFTs have the potential to revolutionize the music industry by providing funding, rewarding loyal fans, and allowing artists to regain control over their revenue. FanSociety aims to address the limitations of current NFT collections and create a platform that supports sustainable growth and fan engagement.
12 thoughts on “NFTs: Bridging the Gap Between Musicians and Fans”
Leave a Reply
You must be logged in to post a comment.
The podcast episode provided great insights into Miles’ vision for FanSociety. It’s definitely worth a listen! 🎧🎶
It’s great to see someone challenging the status quo and thinking differently about NFTs. FanSociety has my full support!
I completely agree with Miles that limiting the availability of NFTs is elitist. FanSociety is all about inclusivity and giving artists the freedom they deserve!
Thank you, Miles, for thinking about the fans and creating a platform that puts them at the forefront. FanSociety is needed in the industry!
FanSociety can be a major game-changer for the music industry, providing funding, rewards, and artist control. Count me in!
Who cares about NFTs? They’re just a waste of time and money.
It’s funny how the article tries to justify failed NFT projects, they were obviously scams.
Finally, someone recognizing the need to support musicians and reward loyal fans. FanSociety seems like a step in the right direction!
The potential for NFTs to change the music industry is mind-blowing. FanSociety is bringing that potential to life!
Miles’ passion for supporting artists shines through in his plans for FanSociety. This is a platform built with love!
Revenue sharing is such a crucial issue in the music industry. FanSociety can level the playing field and ensure fans and artists both benefit.
NFTs only benefit the rich and famous, it’s not for ordinary people.