As for me I've been tinkering with the possibility of having a decentralized venture capital-style crowdfunding where creators can issue shares in form of NFT tokens, and give chances for their fans to become stakeholders by buying their shares so that creators have fund to activate their projects.
Then it'll be great if we can somehow put a payment pointer to the NFT tokens in the metadata, where the revenue from creators' projects can be shared amongst stakeholders to the payment pointers in every shares (the NFT tokens) issued before. These payment pointers in the NFT metadata can be changed later on if the owners of the shares decide to sell their shares to someone else.
This idea can be automated with smart contracts like Solidity or Codius, but I think the simplest implementation would be creators would put a list of issued token in simple txt file and put them into immutable IPFS, and invite stakeholders to pin the IPFS url. This IPFS pinned txt file will be the anchor of shares lists when creators paid their stakeholders their dividend shares (presumably using Dividend Revenue Share scheme).
Creators and their community can decide whether they want to open the secondary market where their shares can be traded or not, which details I haven't think of at the moment.
I love this idea and the discussion! Besides web monetization I think NFTs have incredible potential for the performing arts and Im looking forward to seeing where this will go. Thanks for diving into this Radhy!
Ive been keeping a close eye on how other industries have been using them, particularly sports. It seems like there is a lot of development to do but it looks promising. Im strongly considering making a limited series of ballet art NFTs as a means of fundraising for Ballet Rising. Ive talked to several artists about it and everybody is pretty excited.
Thanks! It will be an interesting process getting artists to understand and adapt but there is a drive to expand into the digital world now so education will be fun! For my self as well!
I agree with Casey I think performance arts can utilize NFTs in some cool ways and Im personally excited about that. I also saw someone in here using NFTs to license works. This is another way artist can leverage the NFT space. I saw you mentioned the Ballet concept. Maybe add tangible pieces to this as well. So the largest NFT could be auctioned for free Ballet lesson from a performer or chat.
Thanks @victoriac
! that s a great idea! Im toying around with a few basic concepts like that with the idea of starting off simple and slowly adopting some of the more cutting edge ways people are starting to use them as I become more educated and as the arts community gets more familiar. There is so much going on its impossible to keep track of everything.
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As for me I've been tinkering with the possibility of having a decentralized venture capital-style crowdfunding where creators can issue shares in form of NFT tokens, and give chances for their fans to become stakeholders by buying their shares so that creators have fund to activate their projects.
Then it'll be great if we can somehow put a payment pointer to the NFT tokens in the metadata, where the revenue from creators' projects can be shared amongst stakeholders to the payment pointers in every shares (the NFT tokens) issued before. These payment pointers in the NFT metadata can be changed later on if the owners of the shares decide to sell their shares to someone else.
This idea can be automated with smart contracts like Solidity or Codius, but I think the simplest implementation would be creators would put a list of issued token in simple txt file and put them into immutable IPFS, and invite stakeholders to pin the IPFS url. This IPFS pinned txt file will be the anchor of shares lists when creators paid their stakeholders their dividend shares (presumably using Dividend Revenue Share scheme).
Creators and their community can decide whether they want to open the secondary market where their shares can be traded or not, which details I haven't think of at the moment.
I love this idea and the discussion! Besides web monetization I think NFTs have incredible potential for the performing arts and Im looking forward to seeing where this will go. Thanks for diving into this Radhy!
Would love to see NFTs making real life improvement to performing arts too!
Ive been keeping a close eye on how other industries have been using them, particularly sports. It seems like there is a lot of development to do but it looks promising. Im strongly considering making a limited series of ballet art NFTs as a means of fundraising for Ballet Rising. Ive talked to several artists about it and everybody is pretty excited.
Pretty neat! Good luck on adopting NFT for Ballet Rising!
Thanks! It will be an interesting process getting artists to understand and adapt but there is a drive to expand into the digital world now so education will be fun! For my self as well!
I agree with Casey I think performance arts can utilize NFTs in some cool ways and Im personally excited about that. I also saw someone in here using NFTs to license works. This is another way artist can leverage the NFT space. I saw you mentioned the Ballet concept. Maybe add tangible pieces to this as well. So the largest NFT could be auctioned for free Ballet lesson from a performer or chat.
Thanks @victoriac ! that s a great idea! Im toying around with a few basic concepts like that with the idea of starting off simple and slowly adopting some of the more cutting edge ways people are starting to use them as I become more educated and as the arts community gets more familiar. There is so much going on its impossible to keep track of everything.