First debate - Music NFT for VFTLAB

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Lets talk

There's a fact, VFTLAB and M4L will be the best place for musicians within the HIVE ecosystem. And there's another fact, we are gonna introduce a service in VFTLAB that will consist in:

An interested musician (even with low knowledge about NFT) looks for:

a) A place in which music lovers can appreciate his art
b) A place in which he can sell his art
c) A place in which he can create NFTs of his art

So VFTLAB is offering you a service in which after an initial interview and we will ask you all the media required for this, we are gonna mint the NFT of your songs, use VFTLAB as a music store for them, and then distribute them after someone pays for it. (like a marketplace including the personal service of minting the NFT).

We were thinking, and well obviously is your art!! You can mint NFT with us, NFT with another platform without problems, we cant ask for exclusiveness but would be appreciated if for example you add in your cover art our logo or you add a little art image especially for us(because the NFT can have more than one just image ). its, not a must just would be cool.

This is an excellent example of how would look a MUSIC NFT, and only your imagination will be your limit.

From our side obviously only the NFT that have been created through VFTLAB (or partners) will be included in our future projects.

So ¿Whats the point here?

Well in this first part of governance you can write here or on our discord in the #poll channel, proposals for the Service fee. Basically, VFTLAB is minting and distributing.

¿Why fees? well, the process of whitelisting needs to be made by humans so surely we will be hiring someone for doing it. Actually is not a big cost, but is added to our current expenses. Also, we will use a % to buy and burn and of course keep innovating! Our business model as you see is based in a long tail strategy, we are creating a lot of cool things with low fees to keep doing more cool stuff!! is a win-win, this creates value for the ecosystem.

Personally, I would suggest a minimum of 1% of the sale price and a MAX 4-5%, is better to have a lot of sales with low fees rather than a few ones with crazy taxes. And really personally I would vote for a 3%. This same % will be applied to the atomic hub collection fee.

We are preparing the first post about our burning event, it won't be periodically as sometimes the market is crazy.. like today!!

SOCIAL MEDIA 🎶

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Posted via MusicForLife.io

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23 comments
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Have to have fees. Got to pay the bills somehow. Keep up the great work!

Posted via MusicForLife.io

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Bills and burning!! you guys really will love the burning, ill give you a taste of it very soon.

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Best of luck and what a great initiative it is. Bravo!
!BEER !PIZZA

Posted via MusicForLife.io

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Continually impressed with the work you guys are doing and all the innovation! This one will probably illicit a very wide range of responses!

I gave up trying to make money from music years ago. Unless you have a record deal (which will probably rip you off) or you work the club circuit to get a following it's almost impossible to make anything other than a bit of "pocket money". So with that in mind personally I would be happy with 5% if it means you guys will promote my music!

I'd also be happy to provide a track for use as an NFT.

Cheers and rock on \m/
Jux.

Posted via MusicForLife.io

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uff yeah, personally i love music and I love to sing but haha i don't think i could earn a cent by doing it professionally. But there's a lot of talented musicians that have a lot of talent but due to the market saturation, they cant find a chance to earn some well-deserved rewards for their art.

Using the blockchain and NFT to help them with that is only the first step!

thanks for the support bro!

Posted via MusicForLife.io

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Awesome guys! I'm fine with 5% myself as this is a pretty big service you're offering and 5% is much less than conventional labels anyway, plus you get to be a pioneer in the music industry! Just wondering, do you have your own artists that can work on the artwork and do the NFTs need to have moving animation like in your example?

Sorry for the questions, still very new to the NFT scene!

Posted via MusicForLife.io

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thanks bro! and actually nop , i mean we can find illustrators and animators and help you guys to contact them, (even we can negotiate with them to accept VIBES as a payment method ha) but definitely that's out of price if we would be offering it. I think we are more like a marketplace with an extra service of helping you in the process of minting the NFT and distribute them.

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Ok, thanks for getting back. Not to worry, I know a graphic designer on HIVE and she has been doing my artwork for a while now - if anyone wants some pro graphics, speak to @gabrielatravels :)

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You are too kind Nicky! Thanks so much for the heads up, and yep, you are right! I'm always a available for new graphic design projects and collaborations of any kind! ❤️

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genial , pero tengo una pregunta , yo no tengo temas propios pero hago covers, sera que yo puedo hacer mis NFTs con covers ?

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Small fees kind of already exist no matter where you go now. Since it will be on Atomic Hub, is this this the collection fee charged by the collection maker whenever the NFTs are traded?

Posted Using LeoFinance Beta

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both i mean, if people decide 5% as fee, there will be a 2.5% fee on the VFTLAB store and 2.5% on atomichub for example.

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5% is a very small fee and musicians can really sponsor their music. M4L is creating something amazing and fast, come on guys!

Posted via MusicForLife.io

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