For decades, artists and musicians have gotten the short end of the stick, struggling against outdated gatekeeping models and unfair compensation. - nftart musicnft
, which not only lets fans directly support their favorite musicians but allows them to share in royalties as well.While musicians have been able to generate royalty payments from their work , visual artists can’t because there are no existing US federal laws on the topic, and resale royalty laws vary from state to state — and are often not enforced.
The first case of this to attract major media attention was in 1973, when artist Robert Rauschenberg sold a painting for $900, only to see the collectorat a Sotheby’s auction, with the artist having no right to resale earnings. That changes with NFTs, where smart contracts can include royalty payments for subsequent sales of the work so that when an artist’s work increases in value as their career progresses, they can be rightly compensated for it.
Every day new platforms are being built within the Web3 space to better support creators and change the model so that an artist and their audiences are in touch with one another. Artists can drop new music anytime they want, and it goes directly to fans who can support their favorite artists by buying their new music.
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