It’s the concept of what is valuable to a collector.įrom a collector’s point of view, I could imagine fans saying, “I can stream your song on Spotify for free as much as I want. They’re like, “Wait, why the hell would my video make $1,000 on Zora since I’m already posting it for free everywhere else? I don't understand.” It’s like, just because you don't understand - just embrace it. The average person has a really hard time wrapping their head around the idea that you can take something that you posted on Instagram, and then post the exact same thing on Zora and make $1,000. Just because you buy a print of Mickey Mouse doesn't mean that you get to put Mickey Mouse on everything. It’s the equivalent of buying a print of a piece of artwork or buying an original piece of artwork. In other words, if you buy an MP3 of a song as an NFT, you don’t own the song. And on the rare occasion where that’s the case, they will make a big deal out of it. That's generally a tall order for anybody who’s a creator. There’s nobody who is serious about NFTs who really humors the idea that what you’re selling is the copyright or the master. Your rights are what you tell people your rights are - tell them what you're selling, and then that’s what you’re selling.” How do you convince people that they’re an actual thing, since they’re not tangible?Ĭreators always come to me with “Wait, what are our rights?” And it’s like, “Okay, well, here’s what I think your rights are. Lots of people have no idea what an NFT is. And all of those little things add up, and it just has to hit your radar in a way that you go, “Oh, that's something I would buy. Even CryptoKitties - I think those are great. I think that the Gods Unchained thing is really cool. Part of it is the big headline sales, like the Beeple stuff or FVCKRENDER. Sometimes it’s just like the conversation moves in that direction. What do you think has made regular people ready for NFTs? And it’s not just a couple of billionaires getting involved. And it wasn’t until this year when I was like, “Oh, people are ready.” Regular people really are collecting this stuff. Nobody’s going to buy it.” So we just stayed away from it. And I was like, “I feel like we’re ready for it. Linkin Park have like a VC arm, and a few years ago we did a bunch of meetings with different companies about investment and the idea of creating blockchain-related merchandise. The following conversation has been edited for length and clarity. The 44-year-old Shinoda, who also has a hip-hop side project called Fort Minor, recently spoke to Input via Zoom about his “Happy Endings” NFTs and what’s on the non-fungible horizon. According to the terms of sale, NFT owners “have no right to license, commercially exploit, reproduce, distribute, prepare derivative works, publicly perform, or publicly display the NFT or the music or the artwork therein.” Or, as writer Matty Karas of MusicREDEF puts it, “you’re basically getting a digitally autographed MP3.” (However, it should be noted that early “Happy Endings” NFT owners will receive a physical print of the single artwork signed by Shinoda and Caser.) Here’s number 10 of 10, which went for 4 WETH (around $6,600):Īll of Shinoda’s proceeds from NFT sales - now and, since he retains partial ownership of works, in the future - go to ArtCenter College of Design in Pasadena, Calif. A 75-second clip of the song, accompanied by Shinoda’s animation of artwork by contemporary artist Cain Caser and the musician himself, was sold in an edition of 10 on the online marketplace Zora. Last Friday, Linkin Park cofounder Mike Shinoda became the first major-label artist to launch a single - the bouyant “Happy Endings,” featuring iann dior and UPSAHL - via NFT auction. And earlier this month, Lindsay Lohan sold an image of her face as a digital asset since changing hands a couple of times, it’s now valued at almost $50,000. Artist Chris Torres just sold a one-of-a-kind, slightly modified NFT version of his famous GIF Nyan Cat – you know, the animated flying feline with a Pop-Tart body – for nearly $600,000. The centuries-old auction house Christie’s is getting in on the action for the first time, it’s accepting cryptocurrency for a NFT piece by the digital artist Beeple. NFTs - non-fungible tokens, or digital collectibles that use blockchain technology as authentication - are everywhere. Verifiable digital scarcity is, suddenly, all the rage.
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