The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Ask the NFT speculators to go away, we have uncovered some of the practicing NFT projects that have been quietly building strength for a long time and have not been hyped by the market.

It should be noted at the beginning: this is not the “NFT investment advice” that has been stinking on the street, nor is there a so-called “wealth code”. I want to provide a more realistic analysis of NFT projects.

In my opinion, there is no shortage of investors in the crypto industry, what is lacking are producers, that is, people who create value.

The application of NFT in the art field is an example. Artists, as producers of artworks, can create value for the crypto industry through NFT casting and selling, while bringing incremental users. Such a narrative not only brings NFT out of the circle, but more importantly, as certain mainstream artists start to join the NFT camp and gain huge revenue through the auction of their works, such news, through the amplification effect of media, makes NFT a new The news was amplified by the media, making NFT a new hot spot time and time again, sending shockwaves through the media, and creating the spectacle of an ordinary pixel work being called a work of art and fetching $15,000.

We may have read about the “Top 10 NFT projects to watch”, followed the NFT projects that skyrocketed a hundredfold, and marveled at the mainstream artists who entered the crypto platform and fetched millions of dollars at auction. There is no doubt that the above examples are positive examples for attracting capital attention and getting out of the circle, but at the same time, it is also worth studying the actions of the overlooked NFT practitioners outside of these explosive projects.

These projects have some common characteristics: the initiators are usually from non-crypto industries, and their rich experience in the industry makes them realize that there are a series of problems in the industry that can be solved by adopting blockchain and NFT. Because of this, these projects are generally more inclined to execute from a solution perspective, so their token prices do not fluctuate much, and some of them have not even issued coins yet, but their demonstration role at the NFT practice level is worth studying.

It should be noted that since this article mainly discusses projects in the practical sense, the projects introduced in this article only concern projects that have already been launched.

DADA
DADA is a social network for artistic creation, founded in 2014 by Beatriz Helena Ramos, Yehudit Mam and Abraham Milano. Initially, DADA was not about blockchain and cryptocurrency, but rather a platform for communication based on the creation of paintings.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

What does an exchange platform for painting creation mean?
Simply put, it means collaborative creation. Translated, it means to connect and communicate with other creators and artists through paintings. You draw a picture and wait for others to reply, but the reply is a bit special, that is, you can only reply in the form of a painting. Moreover, the response must be inspired by the former’s painting, thus creating an interesting connection and dialogue. According to co-founder Yehudit Mam, this form of collaboration is like a jazz improvisation, with multiple instruments and hues, but ultimately harmoniously forming a melody.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Boris Z Simunich (Peru), ALE MT (Colombia) and Cromomaniaco (Chile)

This collaborative approach is an excellent way to stimulate creativity and explore the collaboration of the mind, which originated with the game Exquisite Corpse, invented by Surrealist writers and painters. In the 1930s, Surrealist artists used to play this game in French cafés: one person would take out a piece of paper, draw something random, then roll up the paper, leaving the bottom bit of the pattern exposed, and then the second person would develop a new drawing based on this “clue” and pass it on one by one, eventually opening the whole paper to reveal drawings with coherent lines but unrelated content, creating a creative process not controlled by the conscious mind. This creates a creative process that is not controlled by the consciousness. The name of the game also uses two meaningless words “Exquisite” and “Corpse” to highlight its essence, although the Chinese word translated literally is “exquisite corpse”, but it is more appropriate to use the meaning of “random solitaire”.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

This is a collaborative art work produced on the DADA platform, with creators from Italy, Chile, Spain, the United States, Argentina, Peru, etc. Due to the limited space, only some of the works are intercepted, please visit here to enjoy the full conversation.

DADA has been exploring a new revenue model that enables a self-sustaining community model without relying on advertising and selling user data, which led DADA to practice decentralized applications and blockchain technology. 2017, DADA launched the first digital art marketplace on the ethereum blockchain and began exploring blockchain and art-related use cases. 2018 , DADA received investment from ConsenSys, with whose help it established a token economy model to provide artists with a guaranteed base income.

To date, the DADA platform has generated 130,000 digital artworks, all of which can be traded in the form of NFT assets, making it the world’s largest repository of rare digital art collections, and its “The DADA Collective” project has participated in a number of different exhibitions around the world in the form of live multi-person collaborative creations, for example, the March 2019 “The DADA Collective” at SightUnseen” live painting performance at RXC Detroit, USA in March 2019; “Soul In The Machine” live painting performance at Ethereal Summit, New York, USA in May 2019; “Screens: An Exploration” interactive painting performance at Tate Modern, London, UK in November 2019. Screens: An Exploration, an interactive live painting performance inspired by the Nam June Paik retrospective, London, UK, November 2019.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Art by Joe Chiappetta

According to DADA, the problem with the current NFT art market is that the winner takes all. People tend to buy the work of artists who have proven to be successful, which results in the work of established artists becoming more and more popular and expensive, while newcomers with the same artistic value are not given the opportunity.

This is why it is a wonder that KOLs with large followings are selling a so-called pixel work for $15,000. DADA believes that such crypto art is at best a crypto version of the traditional art market, and if the so-called blockchain technology is only designed to replicate a crypto version of the traditional art market, it is not called an innovation, but rather an object that needs to be revolutionized.

DADA believes that this pyramidal structure arises because the established art market ranks market participants (that is, artists) based on a single attribute, such as a single metric like “sales volume” or “popularity”.

In response, DADA aims to achieve a more equitable art system that no longer focuses on a single metric such as sales volume to assign value to the art market, but instead evaluates the value contribution of the different players in an art market based on a more diverse set of value indicators, and then redistributes the art revenue.

Beatriz Helena Ramos, one of the founders of DADA, is an experienced artist who has worked for the New York Times, Disney, and MTV for many years. She believes that it is not difficult to generate income for artists, but rather to distribute it fairly and to maintain the system organically over time.

Take DADA as an example, since its establishment more than 6 years ago, DADA now has more than 160,000 registered users and about 130,000 artworks have been created on the platform, among which there are less than 200 active contributors, only one project of Creeps and Weirdos series has generated hundreds of thousands of dollars of income for DADA, that is to say, if That is to say, if the income was distributed in the existing way, it would be distributed to the creators, that is, these 200 people, but DADA does not intend to let artists participate directly in the market, that is, the proceeds from the auction will not be distributed directly to the artists, but 100% into the DADA reserve fund, and then redistribute these revenues based on the intangible economy model that DADA will start soon. The proceeds will then be redistributed based on DADA’s upcoming intangible economy model.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

The Creeps and Weirdos series, launched in October 2017

The so-called intangible economy is the most important innovation of DADA, Beatriz Helena Ramos told Chain News that in a fair art market system, value is not only tangible, but there are also many value contributions that are intangible, and the latter are always overlooked and not taken into account in the current one-way evaluation system of the art market to obtain rewards.

Generally speaking, the art market only considers mainstream artists who are in the limelight, and the more popular the artist is, the higher the return, while the less visible contributions are usually ignored, such as the new generation of artists who have the same value but have to live with hunger for a long time, even without a chance to make a name for themselves. In addition, artists are not the only contributors in DADA’s evaluation system, but also technical workers, researchers, and others are considered equally valuable.

DADA designs a new token economy model to quantify more neglected but valuable contributions, and then distributes tokens to the contributors according to this value evaluation system, and the tokens can be held to receive a share of the artwork revenue.

In the design of DADA token system, tokens cannot be obtained through purchase, there is neither private nor public offering, all tokens are obtained through behavior, which can be said to be a kind of broad mining, that is, every valuable operation on the platform will mint the corresponding number of DADA tokens, and the revenue in DADA reserve fund can be obtained according to the proportion of tokens held.

But which operations are valuable and how much weight is given to the value is a key aspect of this token system design.

One obvious value contribution is that the artist has created a work, i.e., DADA tokens are minted for each work produced on the platform, but how many DADA tokens can be minted for that work is based on broader metrics, generally the evaluation system is based on metrics like sales, i.e., we generally assume that a best-selling creator may be the one who minted the most tokens, but DADA The artist with the most sales may not receive the most tokens, or even sales themselves will not be given much weight in the token distribution.

According to Beatriz Helena Ramos, “some people may not create the best work (e.g. newbies who are still learning), but they spend a lot of time participating in the community and are very active connectors that keep the community alive; in another case, some creators may have a small amount of work, such as she spent 8 hours or more to paint a surreal work with very high artistic value. Even those who don’t create works themselves may be considered as contributors to the value of the system, even though they don’t create works, they always give useful comments and suggestions to the creator, and even these suggestions influence the creator’s later work creation and modification.

These actions involve creation, community collaboration, creating connections, and stimulating creativity, and can be considered an integral part of a community, and are essential to its development and growth. The performer of these actions is an active community participant whose actions should be defined as a value contribution indicator, and each time the action is generated, a corresponding number of DADA tokens are minted. The higher the number of such actions, the higher the percentage of DADA tokens earned.

While DADA does not launch private placements or public offerings for the primary market, it does allow tokens to be transferred for sale, meaning that other users can purchase DADA tokens sold by these community contributors in the secondary market.

DADA is currently designing a fair value evaluation mechanism based on Holochain and will consider launching the DADA token mechanism when the new user interface goes live once it is completed. At that time, DADA will invite users to experience the new site while launching the economic model, which means that every creation on the platform will then earn tokens, but creators will hardly feel like they are minting tokens, they are just creating.

“We hope that people who come here are not here for the tokens, but to experience the process of creation and collaboration, and that in itself is a reward.

“The reason for this design is to ensure that a system is built where people who join the system don’t come to earn tokens, and even then, they leave because they don’t make a quick buck and end up staying because of the community, not the tokens. Beatriz Helena Ramos said.

Rehab
Rehab is an Estonian studio that combines Meme subculture, independent music distribution, lifestyle, cultural peripherals, physical exchange and brand advertising. By pledging REHAD tokens on the Unifty platform, each REHAD token earns 1 point per day, which can be redeemed for its regular NFTs, currently ranging from 20-50 points per NFT.

Every time Rehab releases an NFT on the Unifty farm that can be redeemed for points, a small number of the same pieces will also be available as merchandise on Opensea and rarible, allowing users who do not hold REHAD tokens to purchase them by paying Ether, and more importantly, giving each limited release a market price.

Meme Culture NFT
Rehab is the abbreviation of rehabilitatio, which means (drug or alcohol) rehabilitation treatment center, taking this name means to escape from the pandemonium cryptocurrency culture (manual dog head .jpg), which can be interpreted as a physiotherapy center for cryptocurrency speculation party, and using this as a narrative thread, the series of Meme NFT such as “Rekt Pepe” was produced.

The “Rekt Pepe” series tells the story of how Rekt Pepe gradually changed from a bad state to a good one and finally a happy ending. There are 7 pieces in the series, each of which is released in limited quantities of 3-8 pieces through NFT.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Rekt Pepe #2

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Rekt Pepe series at a glance

After the “Rekt Pepe” series, Rehab started to tell another Meme story “Rekt Dev”.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Collaborations and tie-ups
Since its launch, Rehab has experimented with a variety of collabs and collaborations, including the Coinhead collab program, a joint guest artist release program, and collaborations with other DeFi projects.

Coinhead

The Coinhead Affiliate Program is a series of NFTs with the logos of mainstream cryptocurrency projects, and these Coinhead designs with strong Meme attributes, combined with the strong community base of these mainstream cryptocurrency projects, allow Rehab to produce these Coinhead works either as images or After gaining good reputation, they can even take on paid tasks from other crypto communities to create paid versions of Coinhead as a source of revenue for Rehab, such as Alchemist Coin.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Rehab’s paid Coinhead for project Alchemist Coin

Rehab first released the Bitcoin Coinhead, then the Ether Coinhead, both of which were issued in quantities of 3. Since then, it has produced UNI, LTC, BNB, BAT, 0Xmon, etc.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Rehab’s Coinhead series at a glance

Guest Artists

Rehab has released a guest artist program. The first artist to release a series of artworks on Rehab is artist Zsófia Boda, who can be redeemed with pledge points or purchased directly from Opensea and rarible.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

One of the pieces is White Flower

A new NFT music experience with the community project Defiville

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Rehab and community project Defiville have partnered to supply original NFT music to vending machines on the latter’s virtual mining farm, where Defiville users can purchase NFT music in bulk, providing a new sales channel for Rehab productions. This is a new experience for early adopters of Rehab who have purchased/redeemed music NFTs, and this experience is exclusive to NFT owners, making the purchase and ownership of an NFT meaningful. music makes sense.

In the physical music scene, a cassette tape only made sense when a recorder existed, a CD only made sense when a CD player existed, and a vinyl only made sense when a turntable existed. And holding a music NFT becomes meaningful only when such an NFT-specific player exists.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Lifestyle
As a studio, Rehab focuses on the “high tech, lo life” lifestyle, and Rehab has produced a series of NFT peripherals that highlight this philosophy, including coffee tastings, healing peripherals, lofibeats-style music, and the first online music festival.

The coffee tasting includes different varieties of coffee beans, coffee peripherals (including coffee makers, grinders, French presses, etc.), each of which is produced and released in limited edition NFTs with Rehab’s unique aesthetic appeal, redeemable for points on the farm or available for purchase on Opensea, and collected by the community according to their own needs or hobbies, for example, some coffee lovers will seek to purchase privately in the secondary market in hopes of collecting all the coffee utensils produced, and some coffee geeks will be inspired by Rehab to try a few of the beans.

Each of Rehab’s peripheral releases reflects Rehab’s unique curate interest, and it can be said that Rehab is cultivating a coffee culture by releasing coffee peripheral NFTs. In addition, these NFTs have a simple and fresh style in terms of color and drawing style, and are full of healing style.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

List of coffee NFTs produced by Rehab

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Such aesthetic interest and healing style can also be seen in other series, such as Rehab’s series of healing NFTs.

Some of the NFTs are accompanied by music, and the lofibeats are relaxing and healing.

Some people may ask, “What do I do with these NFT peripherals? For now, these NFTs are just beautifully crafted NFTs, and it’s up to the publisher to define what other rights the NFT holders will have in the future.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Music Festivals
The main focus of the lifestyle is, of course, music festivals, and Rehab hosted an online festival one weekend in late March this year.

The festival did all the rituals of a real festival, such as festival posters, festival tickets, entry wristbands, festival dress code peripherals (sunglasses), etc.

Festival posters

Unlike ordinary music festivals, this one was broadcast live on mixcloud and was open to everyone with or without a ticket, except that ticket holders had more airdrop benefits.

The festival has both general admission and VIP tickets, and ticket holders will receive more benefits. Specifically, general admission ticket holders will receive an airdrop of general wristbands from the organizers just before the festival starts, and VIP ticket holders will receive an airdrop of VIP wristbands from the organizers, which means that, unlike the general audience, all of the two types of wristbands will receive different airdrops on the day of the festival, and VIP wristband holders will receive more rare ones than general wristband holders.

Rehab has even set up early bird tickets for the festival, and like the real festival, the early bird ticket prices (which correspond to the number of points here) will be a bit more affordable.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Rehab Festival Tickets and Wristbands

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

General admission ticket holders also received NFT food S’mores (a toasted marshmallow chocolate sandwich) dropped in the air by the organizers.

The festival officially began on Mixcloud at 12 p.m., and while the audience enjoyed the DJs playing, ticket holders received an airdrop that included a live performance of the music single NFT. The NFT peripheral will give the audience a sense of participation and as a badge / credential will give the participants a sense of identity and community belonging, which is indispensable or especially needed by the music lovers as a group.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

For fans, receiving a Zhongnanhai NFT is a testament to their participation in the band’s live music, for the band, it’s a fragment of memory from one of the countless impromptu tours, and of course the imaginative benefits these NFT holders can receive later, such as the ability to use it as a retrospective airdrop voucher.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Interestingly, Rehab Studios had done another encrypted vinyl project before this one, Groovy Finance, and the community grew for a while before Degen broke in and personally attacked the founders, causing the project to be shelved. The founder of Rehab wanted the project to grow steadily, community members were not allowed to discuss prices in the group, there were plans not to shelve coingecko, and even a popular piece called “Shilling It” was released during Groovy Finance (a great song to listen to!) The song is a satire of the coin culture that asks “wen Gecko?” without even understanding the project. The song was also retweeted by coingecko’s founder at one point.

However, even though Rehab itself did not apply, its tokens were still strong by Coingecko, eventually causing the tokens to jump 10 times during its time on the market. After a lot of ups and downs, the project’s token is now mostly stable.

Snark.art


Snark.art is a Brooklyn-based art studio founded in June 2020 by Andrey Alekhin and Misha Libman, targeting small-budget art collectors with most works selling for less than $1,500 and a few for up to $33,000. Artists include Eve Sussman, Kendell Geers, Ilya and Emilia Kabakov.

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care


Like other NFT platforms, Snark.art regularly releases NFT drops created by artists, but the difference is that the platform only charges a small fee and distributes 30 percent of the proceeds from each artwork sold to other artists on the platform, with the artists themselves earning 60 percent and the remaining 10 percent going to the platform to The remaining 10% goes to the platform to cover development and hosting costs. In other words, as long as one artist’s work is successfully auctioned, the other artists on the platform also receive a share of the proceeds.

Compared to traditional art platforms, which charge up to 50 percent of the proceeds from the sale of artworks, a 10 percent platform fee is a generous concession. However, unlike traditional galleries, Snark.art does not keep inventory, but rather allows collectors and artists to communicate directly to arrange delivery of their work.

However, Snark.art does not do so out of some idealistic utopian project, but rather as a response that had to be chosen during the New Crown epidemic quarantine to help starving artists facing very urgent livelihood issues during the special epidemic.

Snark.art’s business model offers a more equitable and long-term sustainable way to ameliorate the winner-take-all situation that has long existed in the art market. Interestingly, the model is also very popular with established artists, who, according to Executive Director Nadia Taiga, see it as a way to support young, up-and-coming artists and also increase the capacity of the artist community. This stems from an ability to empathize, in Nadia Taiga’s words, “After all, every artist has struggled to make ends meet before becoming famous.

Art Fund K21
K21 is Kanon’s first closed-ended art fund, a pool of 21 NFT original artworks created by 21 of today’s influential contemporary, digital and crypto-native artists.

Once these 21 contemporary artists have completed their respective works, Kanon will assist these artists in minting the artworks in NFT format and add these NFT tokens to the Collection Safe, a 2/3 multi-signature mechanism Gnosis Safe that serves as temporary storage for the artworks, which will be transferred to the K21 Vault once the team completes the development of the K21 Vault contract and the K21 Buyout contract.

Kanon has issued a total supply of 21 million K21 tokens based on K21, with token holders receiving a pro-rata share of the proceeds from the final auction of the artwork, in addition to having some voting rights.

Any potential buyer puts $21 million worth of funds into the K21 Buyout contract to trigger the auction. At this point, token holders can vote to reject the bid with a 21% consensus, meaning that if the vote reaches 21%, the trigger price will be increased by 7% from the $21 million, otherwise, K21 token holders will be allocated a pro-rata share of the auction proceeds and the 21 NFT pieces will be sent to the winning bidder, with the proceeds from the auction being allocated to the holders in proportion to their token holdings The proceeds from the auction will be distributed to the holders in proportion to their token holdings.

The fund pool is not only curated by professional curators with a unique aesthetic interest, but also allows ordinary people to participate in art investments through token sales.

The Art Fund Pool contains works by many of today’s most influential artists and is curated by a professional and anonymous curatorial team with over 50 years of experience in contemporary art, and features works by today’s most influential artists, including Alex Mordvintsev, COOL 3D WORLD, David OReilly, Filip Hodas, Hank Willis Thomas & the Wide Awakes, Jenna Sutela, Liam Gillick, Pak, Paul Chan, Precious Okoyomon, Rachel Rose Raoul Marks, Rebecca Allen, Rirkrit Tiravanija, Simon Denny, Suzanne Treister, Terrell Villiers, +4 TBA, Arca, Jenny Holzer and China Tracy (China Tracy).

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Arca is a cool avant-garde experimental musician, born Alejandro Ghersi, a Venezuelan-born avant-garde experimental musician, singer, performance artist and music DJ, whose music is known for its boldness and coolness. He has performed at Burberry’s Fall/Winter 2020 fashion show, worked on Kanye West’s classic album Yeezus, FKA Twigs’ EP2, hosted Frank Ocean’s PrEP+ party in New York City, and collaborated with Icelandic music queen Björk on several occasions, who Björk, who praised him as a genius.

Arca’s video for K21 is Nonbinary, a collaboration with multimedia artist Frederik Heyman, which presents a cyborg Venus, embodying the mysterious realm of posthuman aesthetics and ecology, presenting the self as a non-dualistic multiple identity, suggesting that humans are unclassifiable and at the same time It is also irreplaceable. This is in line with Arca’s identity as a cool kid, as well as with the spirit of blockchain and NFT.

China Tracy is an avatar created by Chinese artist Cao Fei in the virtual world interactive work Second Life, a game character who builds a virtual city called People’s Walled City, allowing real art collectors to buy various survival props, animated figures and houses in the city. Cao Fei spent hours every day inventing a life (even a love life) for his character, an experience that was later made into a film. Cao Fei’s solo exhibition “Times Stage” is currently on view at UCCA’s Ullens Contemporary Art.

Paul Chan is a non-graduate experimental artist with a passion for experimenting with the relationship between AI, art and humans, and previously ran an experimental publishing project, specifically training an AI named Sirena to write erotic novels and serve as a customer service manager for his studio. This time his work for K21 is an erotic novel, “Southern Interior,” or more precisely, an erotic novel written by “Sirena V.032021,” an AI he developed and trained. This Borges-like novel can be read by users by scanning the QR code.

Sirena V.032021, the first neural network and natural language processing (NLP) model developed and trained by Paul Chan, is based on the premise that 21st century artworks no longer exist outside of a technological or discursive framework, and that artworks stored on the blockchain (and generated with AI) are symbiotic with the machines that generate them. What Paul Chan wants to explore is, are humans the only audience for NFT artworks? Are humans the only creators of these works of art? (Will the machines be awakened?)

The NFT De-Bubble Engagement Playbook: Finding the NFT Projects That Are Quietly Building and Only the Creators Care

Randomly scan the QR code to read one of the pages

In addition, K21 is the first time that ordinary people can participate in the investment of contemporary art works, we have seen the NFT of various celebrities, stars and artists at the auction of dozens of ETH, but as an ordinary person, can not afford to invest in a NFT at such a high price. The K21 art fund library contains works by many of today’s influential artists, which are not only professionally curated and aesthetically interesting, but also allow ordinary people to participate in art investment through the sale of tokens, which is a typical example of the civilianization of art investment and is somewhat pioneering and experimental.

Catalog: Zora for Music
Catalog is a digital record listening platform, but in addition to being free to listen to, these digital records in NFT format can also be collected and traded. Each digital record is a unique release, verified by the creator’s own chain license, and is guaranteed to be 100% authentic. Since all records are linked, Catalog releases are guaranteed to exist even if the Catalog platform ceases to exist one day.

Technically, Catalog is created and developed on the Zora platform, which means that each Catalog record is essentially a Zora NFT, sharing the auction mechanism powered by Zora and the platform-independent creator share mechanism. Catalog is Zora’s music channel, so to speak, and is optimized specifically for music-based platforms, such as implementing custom metadata structures that include fields for music covers, album information, visualization tools, and more.

By default, a Catalog digital record does not include publishing rights or IP ownership. So, when a fan buys a digital single in NFT format, what exactly is he or she buying?

For fans, buying a digital record released by a musician on Catalog is the most direct way to show support for the musician, and the special properties of NFT give it a revenue value beyond the collector’s value, i.e. fans can also resell it for a premium through the secondary market.

Of course, unlike the scalpers who shortchange the overall market premium, a large portion of resale revenue in the secondary market can directly benefit the creator. That is, in addition to the one-time sales revenue from the sale of NFTs, musicians can also receive a share of the fees from the resale of those NFTs in the secondary market, simply by setting a custom percentage of the creator’s share on the platform when the music creator presses a single from the record.

In fact, the existence of a secondary market can effectively facilitate price discovery for music works, as most of the revenue in the traditional resale market is captured by scalpers, while the creator share setting brings the resale premium back to the creators themselves, i.e. every time the single is resold, a specific percentage of the revenue is automatically earned, which is the greatest value NFT brings to the producers.

This creator share setup is a win-win for both fans and creators, as it allows them to express their love for the musician and support them financially, while also earning revenue from collecting their work.

Catalog is like a decentralized version of Bandcamp, catering to the same audience – music creators. Only Catalog is based on a new technology that could reshape digital ownership, but it’s still in its early stages, which means there’s no limit to what Catalog can explore and imagine.

Chain News asked Catalog the same big question that non-crypto-native users often ask: “What am I actually buying when I buy an NFT?

Mike, the founder of Catalog, told Chain News that when a user purchases an NFT digital music, for example, not only does he or she own the record itself, but as a permanent record on the chain, it can also be used as a credential that can be used in the future at the discretion of the publisher, such as unique access to the musician’s chat channel, concert tickets and peripheral purchases, or the right to buy the musician’s music. For example, it can be used for unique rights to the musician’s chat channel, concert tickets and peripheral purchases or airdrops, and of course, it can be used to hold a series of copyrights for the work, such as publishing rights, royalties and parent rights. Another example is when a musician one day wants to release community tokens, at which point a throwback airdrop can be made to purchasers of early music works, a way to give back to early fans for their support. At this point, NFT is used as a loyalty credential.

Catalog also supports the “slice” feature, which allows users to offer other record owners the ability to “sell for them” and take a percentage of the “slice” when the contemporary sale is successful. Generally speaking, when the bidder has good taste in music or has sales channels, it is easier to sell at a price higher than the average market price, which is a good deal for the record owner.

The Catalog platform is still in beta, and the music released on the platform is selected and curated by the founding team, with a specific musical aesthetic interest, and musicians can submit a form here to apply. In the future, Catalog will go live with collaborator sharing and will provide tools for the musician community to create/filter their own collection lists, opening up music distribution to as many music creators as possible.

Before Catalog, the team members developed a lofi music radio station called “Loft”, which plays lofi music 24 hours a day, and when the music is played in real time, users can use Ether to reward the musicians, and these These bounties go 100% to the creators; and Patreon, another project sponsored by musicians, will be presented at the ETHDenver hackathon in 2020.

Catalog’s current goal is to create a new experience in music discovery, filtering and listening, by creating a sustainable platform for musicians, forming a community of musicians and enthusiasts who share and co-own it, and dismantling the demand-side DSP-based advertising model monopolized by large companies. And in the short term, Catalog Opportunity will conduct a music auction in the near future.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-nft-de-bubble-engagement-playbook-finding-the-nft-projects-that-are-quietly-building-and-only-the-creators-care/
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