Source | Create Economy
I already own my content. Why do I need to make an NFT?
Do you really own your content?
Suppose you’re Taylor, a talented musician. You upload a new song to Spotify and it gets 1 million plays (a hit!). Unfortunately:
- Intermediaries take most of your earnings: Spotify only pays ~$4,000 for 1M plays. After other intermediaries (e.g., record label, management) take their cut, you’re left with just $800.
- Intermediaries own your content rights: Like many new artists, you gave up your song’s rights to the record label. Without your song’s rights, you can’t even perform it live to fans without your label’s approval.
- Intermediaries control how many fans see your content: Spotify can change its discovery algorithms or even take down your content at any moment.