The combination of fractional ownership and NFTs has me excited.
The clear step forward from the position the internet is in right now is through NFTs. Looking at all the different theories on how NFTs can revolutionize the internet and personal ownership is a very thrilling thread to follow. The process of evolution has brought along Web3, what is truly worth waiting for is fractional ownership through NFTs.
In the post where I talk about digging deep into truly understanding what NFTs are, I shared some news about Madonna's unreleased music and Tory Lanez's songs that were sold for a massive chunk as NFTs.
What is the next step from here?
The value smart contracts have in a future setting is still being discovered. Say, if NFTs and fractional ownership can be built together as one with smart contracts becoming the adhesive material, it is possible to see a new era in music where talented artists are discovered faster, requirements of capitalists and labels along with their politics can be removed from the equation, new millionaires are created, and a fairground for future times can be created.
With fractional ownership, a person or entity can now gain partial ownership of something valuable (or potentially valuable) and reap growing benefits of owning the said something.
Musicians are now looking at the NFT space to promote their art. It is already difficult for talents to get signed to a label and even more difficult for someone to invest in their art with much passion.
Say, you found Shawn Mendes (before fame) on an NFT space where he was minting his works. He is yet not signed to any label and is finding it difficult to reach out to investors. However, he is offering his music NFT as fractional ownership for anyone that takes ownership of his NFT to raise funds. Once his songs start going mainstream, you as a fractional owner of his work can now earn royalties on the songs you have fractional ownership on.
The value of the NFTs you own will either go up or down depending on the same factors that make a song popular today, i.e., singer, music, genre, publicity, and so forth. The only difference between regular industry music and NFT music is that everyone is now an investor and can earn royalties while the artist can still remain independent and still make a big buck from their work. The NFTs can also be traded just as stocks are.
The truth of the matter is, fractional ownership is only going to get bigger with time. I think it is the natural order of this space. The evolution of the internet, where fractional ownership is getting bigger, to NFTs will make this more reachable and truly independent.
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