publishing royalties are part of the legacy music copyright system. they are rights for use of the song *writing*, which is different the recording of that song.
(e.g. a song can be performed/recorded by multiple artists)
platforms like Spotify have to pay publishing royalties when the play a song.
so do arenas when the play songs at a basketball game.
its arcane to administer this.
right now none of these royalties flow on chain, so the winning bidder on this NFT will have to make arrangements with @jacquesgreene to figure that out.
but one day royalties will flow on-chain...
though they likely won't be the same old music copyright royalties, but digitally native versions
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@spencernoon has stewarded (and backed) an incredible community of builders by championing data driven insights, and creating venues for builders to do the same through @OurNetwork__
He's done all of this as a solo investor in FL—long before it was cool/the new Silicon Valley—a testament to crypto's decentralized, internet-first culture.
NFTs are very early in the irruption-installation phase of Perez' hype cycle.
I'm optimistic they are going to work with mainstream audiences, but what is the wedge?
If I had to guess, it'll play out as follows 👇
1/ Irruption becomes frenzy alongside the backdrop of a crypto bull market. Digital artworks sell for $MMs, grabbing headlines, creator and collector attention.
2/ Developers rush in, building new marketplaces and experiences around issuing, collecting and trading NFTs.
This is clearly happening right now. New marketplaces and subniches are popping up daily. My fav as of late is @artblocks_io for generative art.
1/ Being able to "invest in whats in the fridge"—brands whose products and services are used or recognized globally—is now globally accessible, as it should be.