TuneGo is a new music platform that integrates NFTs into its business model, where artists can sell their tracks and listeners can buy them on the TuneGO store. The company has attracted major industry players like Beats Music and Spotify in order to help make this vision a reality.
John Kohl of TuneGO, a company that allows musicians to sell their music as NFTs, believes that NFTs will completely change the music industry. Read more in detail here: nft musicians.
Learn why John Kohl, co-founder and CEO of TuneGO, views NFT technology as a method to help artists realize their full potential, be paid, and form closer ties with their fans.
“Family comes first, technology comes second,” John Kohl adds. His work objective is mirrored by his view of himself as a committed family guy and a digital pioneer. Great creators are like family to him, and he just wants the best for them: “I adore breaking old systems so talented creators may realize their full potential and be paid what they are genuinely entitled,” he says.
TuneGO co-founder and CEO John Kohl
He wants to shake up the music industry’s legacy-based structure, which he views as “very outdated in comparison to other businesses,” according to TuneGO’s co-founder.
John is a proponent of a “creator-first economy.” He enjoys creating technology that “connects brilliant people who create wonderful things,” which is “why we created TuneGO, and NFTs represent the next frontier of this adventure,” he continues.
TuneGONFT is a subsidiary of TuneGO, a unified platform aimed at reshaping the music business.
So, what are some of the industry’s issues, what are some potential remedies, and how does NFT technology fit into John’s vision for the music industry?
An Outdated Business
So, why is it that the basis of music rights is so old?
The fact that “this section of the business has yet to embrace technology – there is no cohesive system that goes from the inception of the production of the art all the way through to commercialization” is one of the key issues with music royalties, according to John.
“It’s so fractured that the information is all over the place,” he says. … billions of dollars in royalties are collected each year but never dispersed.”
What could be done about it? It seems like a disaster, therefore what could be done about it?
John envisions a “single system that spans the whole creative process from conception to commercialization.”
According to John, NFT technology may “act as a lightning rod to assist produce visibility” and “a mechanism for artists to develop a deeper link and better connection with their following.”
So, how do John and TuneGO plan to do this?
Changing the Music Business
So, what role may TuneGO and NFTs play in reshaping the music industry?
To begin with, John and the TuneGO team have created a first-of-its-kind technology that, according to John, “gives artists complete control over the whole creative process while also allowing them to establish a chain of custody for a song.”
The artist’s cherished work is then saved in the TuneGO Vault, a cloud-based platform for securely storing and sharing digital music, including all data related with a single track.
“When a song is uploaded to the Vault, it is time-stamped, and song ownership is allocated to the originator artist, who may then distribute digital access keys to collaborators, contributors, and listeners,” John continues.
“All activity connected to contributions, collaborations, splits, and metadata tagging, for example, is specified and monitored, producing an incontrovertible ‘digital record’ of song ownership in the cloud,” John says.
TuneGONFT, the next cutting-edge addition to the TuneGO platform, expands into NFTs.
TuneGONFT uses FLOW, an environmentally friendly and scalable blockchain that, according to John, is “designed exclusively for real-world NFT trading activities.”
“What’s fantastic about NFTs is that they give that additional layer of safety by creating an immutable record on the blockchain and laying the groundwork for distributing income instantaneously via smart contracts,” John says.
“They’re also fantastic for producing cash and royalties for the creative community,” he adds.
“If you make income from that music using smart contracts and blockchain, you can transfer that revenue quickly and transparently to each creator’s wallet.”
Is there a better way to keep track of song and creator splits?
“All material is safeguarded through the TuneGO Vault prior to the minting of any NFT,” John says, “and author shares are agreed upon by all parties.” “This is the way royalties will be in the future.”
How do you keep your musician’s assets, files, and information safe and secure?
John views security as an intrinsic feature of the Vault since all material is stored in the cloud and TuneGO’s proprietary technology provides a time-stamped fingerprint of interactions.
“The Vault fingerprinting technology enables complete transparency of all actions linked to creative endeavors to partners,” he continues. According to John, this “prevents undesirable activities from unscrupulous actors…and leaves power in the hands of artists who can simply and rapidly offer collaborators digital access keys.”
Music Lovers and NFTs
What about the NFTs and the TuneGONFT platform’s ability to engage fans?
We’ve all heard about the cash grabs that have been an undesirable but unavoidable aspect of the NFT scene, but for NFTs to become popular, fans, not just artists, must be a part of the movement.
John is particularly interested in emphasizing the mutually beneficial interaction that exists between musicians, fans, and new audiences. When he claims NFTs are a vehicle to create a “deep and meaningful connection and link between creatives, their current followers, and new audiences,” he means exactly what he says.
“The fan’s possession of the NFT collectible gives the relationship its potency,” he explains.
TuneGONFT gives artists a method to interact with fans directly via NFTs in innovative ways, such as new music and digital artwork.
Not only that, but NFTs may provide fans access to special real-world experiences with their favorite artists, such as virtual meet-and-greets, behind-the-scenes studio sessions, and concert tickets.
“There is still a bit of a learning curve with NFTs and a consumer education process,” John acknowledges, but assures fans that “consumers who acquire NFTs through our platform have the comfort that all of the information has been checked and verified.”
Drop by Method Man
The first NFT release on TuneGONFT came from real Hip Hop royalty, Method Man, a platinum-selling musician and part of the world-famous Wu-Tang Clan.
Method Man is a huge comic book lover, and the publication of his ‘Tical Universe’ Genesis NFT collection in November was timed to coincide with the release of his new song ‘New Old School.’ It exemplifies what the “power of connection” means for authors and fans, as John noted before.
The Tical Universe is an interactive comic community that allows fans to participate in the project in a variety of ways.
Fans may have creative guidance with narratives, NFT ownership rights, one-of-a-kind artwork, unreleased Method Man recordings, and more.
The Genesis NFT collection ‘Tical Universe’ incorporates artwork by noted painters Alex Smetsky and Aleks Sinyuts, who animated 5 Tical Universe characters for the release. These animations correspond to the instrumental version of the track ‘The New Old School.’
“The initial NFT drop was a chance for Method fans to acquire the original drawings of the characters as a collector’s item, comparable to owning the original sketches of Batman,” John explains.
You may be beginning to realize how devoted fans might begin to form deeper bonds with the artists they like.
The TuneGO Vault, of course, houses and protects the creative rights of ‘New Old School.’
Is There a New Beginning for the Music Industry?
So, would NFTs alter the basis of music rights and the business as a whole?
John responds with a resounding “yes.”
“By tokenizing all of the Legos used to create a song, all creative rights can be officially traced and validated — and royalties can be distributed appropriately.”
“For the first time in history, Web 3 technologies will enable artists and their fans, followers, and collectors to form meaningful relationships without gatekeepers and overlords controlling everything,” he says.
TuneGO is transferring the music ecosystem from antiquity to the twenty-first century, establishing a safer and fairer environment for creative talent as well as a more meaningful relationship between artists and listeners, thanks to John Kohl’s leadership.
“That’s where Web 3 and TuneGONFT come in.”
As an example:
As if Loading…
Please consider donating to us via one of our sponsors.
The “best music nft platform” is a company that has been in the crypto industry for a while. John Kohl, CEO of TuneGO, talks about how NFTs will change the music industry and how they are already changing it.
- nft music platform royal
- music nft marketplace
- tunego share price
- where to buy nft music
- nft meaning