A Step by Step Guide to NFTs for Creators

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:

  1. 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.
  2. 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.
  3. Intermediaries control how many fans see your content: Spotify can change its discovery algorithms or even take down your content at any moment.

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