NFTS Archives - Frank Magliochetti

The Current State of Music NFTs

August 31, 2022 by admin

NFTS are Shaking Up the Music Industry

There was a time when all you could purchase with non-fungible tokens (NFTs) were those mopey monkeys that people inexplicitly bought for ridiculous amounts of money. Today, NFTs can do so much more than buy Bored Apes – especially for the music industry.

As you probably know, an NFT is a digital asset that represents real-world objects, such as art, in-game items, and music. Like other types of cryptocurrency (crypto), NFTs are bought and sold online through a digital database that creates a permanent, transparent record of the transaction. An NFT functions somewhat like a zip file with artwork on the front and nifty assets, such as music, tickets or videos, on the inside.

NFTs are still in their infancy, but their potential is becoming clear. Some of music’s heaviest hitters, such as Linkin Park’s Mike Shinoda and Kings of Leon, have already adopted NFT technology to reach more fans. The musician known as Grimes launched an NFT campaign that combined artwork and videos set to music, and she raked in a cool $6 million – which is the equivalent of a couple of billion Spotify streams. These fat stacks allow artists to compete with record labels while retaining ownership of their masters and their work.

New Opportunities for Partnerships

NFTs also create opportunities for collaboration. Intercept Music recently partnered with Method Man to create a new platform for independent labels and music artists, intending to create a digital distribution platform that empowers both artists and labels by giving them access to hundreds of digital stores and major streaming outlets. Intercept Music has partnerships with some of the biggest music marketplaces and distribution services, including Nifter.

These collaborations may be a lifesaver for artists, who suffer from a broken music industry that splits profits between the big dogs and leaves the musicians with pennies on the dollar. NFTs offer a more sustainable and equitable model for artists by creating a system that gives musicians more control over their work, and in the end, puts more money in their pockets.

NFTs Enhance the Connection between Creators and Fans

NFTs also work out for the fans, in that they create an opportunity for artists to connect with their base in a more personal (and profitable) way. Users often have a passive relationship with music – they listen to their favorite songs without any interaction with the artists that created them. Until NFTs came along, the only way for fans to gain greater ownership of their relationship with the artists was to buy VIP tickets with meet-and-greet or to purchase merchandise.

NFTs foster a more dynamic relationship by giving listeners an opportunity to engage and participate with the artist in ways that go well beyond the merch table. Fans can purchase limited edition or one-of-a-kind albums, buy physical or digital merchandise, or even interact with their favorite artists online.

But what about the “crypto winter?”

Bitcoin and other types of cryptocurrency have recently experienced a downturn, dubbed by many as “crypto winter.” Prices dropped and remained low, creating a bear market that has chilled interest in NFTs for some investors. Crypto winter has not frozen out many big players, though.

“I feel like every great industry has a downfall,” said Snoop Dogg when asked if he was concerned about the current crypto crash, for example. “There’s been a depression in every industry you can look at: alcohol, tobacco, clothing, food; every industry you can imagine.”

The music mogul isn’t alone. Billionaire Mark Cuban compared the crypto crash to the lull the internet experienced when the dotcom bubble burst. Cuban even went so far as to say that the NFT space was oversaturated with wanna-be investors, and that cyber winter weeded out all the people who weren’t supposed to be there. Snoop, Cuban and other NFT enthusiasts are still hot for the digital currency.

How do you make an NFT?

Making an NFT is easier than you probably realize. The first step, of course, is to find out as much you can so that you go into the venture wisely. Learn about gas fees, for example, which is the fee you pay to execute any transaction on the blockchain. The more you know before you dive in, the more successful your NFT venture will likely be.

Pick an asset

You can turn almost any digital file into an NFT, as long as you are the sole owner and nobody else has intellectual property rights.

Music
Video clips
Pictures
Artwork, such as drawings or paintings
Tweets and other online content
GIFs and memes

Start simple with an audio clip, video, or image, as these are the most commonly accepted formats in various marketplaces.

Choose a blockchain

A blockchain is a type of public ledger that records transactions made in bitcoin or other types of cryptocurrency. Ethereum and Solana are the top blockchains choices for NFT creators.

Choose a marketplace

Marketplaces are the online platforms in which users store, display, buy, sell, trade, and mint NFTs. NIFTER, Nifty Gateway, OpenSea and Rarible are among the most popular marketplaces.

Set up a digital wallet and add cryptocurrency

You’ll store your cryptocurrency in your digital wallet. MetaMask, Coinbase Wallet, and Alpha Wallet are among the most popular. Be sure to choose a digital wallet accepted by your marketplace of choice.

Upload your file

Upload and create a file that contains your NFT. Once you gain experience in uploading your NFTs, you can mint (publish) them directly on the blockchain. Newbies should use the minting tools provided by their marketplace. Connect your digital wallet to the marketplace to establish a payment system. Once your digital wallet is connected, the marketplace will publish your NFT. Your marketplace will assign unique metadata to your asset and record it on the blockchain. If you’d like, you can create extra value for your NFT by adding a smart contract that lays out the terms and conditions of the transaction.

Next, sit back and rake in the money. You can list your NFT at a fixed price or sell it auction-style to the highest bidder. While many NFTs never sell or earn very little money, it is entirely possibly that you will be the next music NFT to rise above and find success.

ABOUT FRANK MAGLIOCHETTI

Frank Magliochetti owes his professional success to his expertise in two areas: medicine and finance. After obtaining a BS in pharmacy from Northeastern University, he stayed on to enroll in the Masters of Toxicology program. He later specialized in corporate finance, receiving an MBA from The Sawyer School of Business at Suffolk University. His educational background includes completion of the Advanced Management Program at Harvard Business School and the General Management Program at Stanford Business School. Frank Magliochett i has held senior positions at Baxter International, Kontron Instruments, Haemonetics Corporation, and Sandoz. Since 2000, he has been a managing partner at Parcae Capita l, where he focuses on financial restructuring and interim management services for companies in the healthcare, media, and alternative energy industries. Last year, he was appointed chairman of the board at Grace Health Technology, a company providing an enterprise solution for the laboratory environment.

Frank is the CEO of ClickStream, ClickStream’s business operations are focused on the development and implementation of apps that disrupt such as WinQuik™, a free to play synchronized mobile app and digital gaming platform. The platform is designed to enable WinQuik™ users to have fun, interact and compete against each other in order to win real money and prizes. Twitter at @ClickstreamC @WinQuikApp, Nifter™, a music NFT marketplace that allows recording artists to create and sell limited edition authenticated NFTs, and their ever expanding foreign language exchange social learning app @HeyPalApp. ClickStream is also entering the E-Learning market with Joey’s Animal Kingdom- please visit them online at wowee.world

Frank was appointed Chairman and Chief Executive Officer at Designer Genomics International, Inc. The Company has accumulated a growing body of evidence that highlights a link between alterations in the immune and inflammatory systems and the development of chronic human disease. The Company is visionary and has established itself as a leader in the field of inflammatory and immune genetic DNA and RNA biomarkers that play a causative role in debilitating conditions, such as atherosclerosis/heart disease, diabetes, arthritis, inflammatory bowel disease, post-traumatic stress disorders (PTSD) and cancer.
A proprietary state-of-the art data mining bioinformatics program, called ‘cluster analysis’ will be used to measure disease development susceptibility with potential for earlier diagnosis and intervention. The company is developing a healthcare program based on its proprietary genetic panels that will allow people to be their own healthcare advocate and take an active role in their health status as well as longevity.
Frank is a highly sought after multifaceted senior C level executive.

This image has an empty alt attribute; its file name is frankmagliochetti_FrankMagliochettiNews.jpg — **Mr. Frank Magliochetti MBA**
Managing Partner
Parcae Capital
www.parcaecapitalcorp.com
www.frankmagliochetti.com

Filed Under: Blockchain, ClickStream, Featured, Music NFTs, News, NFT's, Nifter, Trends Tagged With: CEO, CLICKSTREAM, FRANK MAGLIOCHETTI, NFTS, NIFTER, REBEL BLOCKCHAIN

NFT News 2022: NFTs as a Marketing Tool

June 15, 2022 by admin

NFT News –

Non-fungible tokens (NFTs) are coming into their own, now becoming an important part of the digital economy. The original goal of NFTs was to develop a monetary system that confirms assets – usually artwork – as individually unique, traceable and verifiable. These confirmations can be applied to anything digital, making the assets basically un-hackable and uncopiable.

Like most disruptive technologies, the journey to widespread acceptance and use has been along a twisted, and sometimes bumpy road. Largely discounted at their creation in 2014, NFTs surged in 2021, stabilized in early 2022, and faltered a bit mid-year. During their development, NFTs gained a reputation as being difficult to use. Some NFTs even turned out to be digital snake oil.

Even as many people struggle to understand NFTs, or are reluctant to jump on board, demand for NFTs has surged. In fact, NFTs topped $17 billion in 2021 and are poised to surpass $147 billion by 2026. As of March 2022, there were more NFTs than public websites. NFT marketplaces like Nifter, recently launched by ClickStream, are largely responsible for this growth because this new generation is easy to use, reliable, and secure.

With Crypto Currency showing signs of struggle, NFT’s still are finding their way to more platforms through diversifying its strategic uses.

Tomorrow’s NFT – A Powerful Marketing Tool Like No Other

As NFTs have grown, they have evolved past being merely a way to sell music or artwork. Once dismissed as a fad, NFTs have tremendous staying power and are now entering the mainstream. Today, these digital tokens are now in use as a sophisticated approach to marketing. Major brands, such as such as Budweiser, McDonald’s and Adidas, have introduced their own NFTs. A number of celebrities, including Tom Brady and Snoop Dogg, have either purchased NFT collections or launched their own.

Selling NFTs allow companies to lead customers on a journey through different price points and offer rewards based on the clients’ level of engagement. They are also a way for entrepreneurs to identify their strongest supporters.

Entrepreneur, author, speaker and internet personality Gary Vaynerchuk created Veefriends to build a community around his creative and business interests using NFT technology. His tokens recently pulled double duty during the multi-day superconference, VeeCon 2022, where holders of a VeeFriends series 1 NFT used the digital currency to get in the front door and gain access to original artwork and surprise gifts. Using NFT technology also allows Vaynerchuk to distinguish between superfans and casual conference-goers. Vayner’s VaynerMedia, a global creative and media agency, also recently partnered with Johnnie Walker to offer loyal customers a special and limited edition of blue label whiskey.

Vaynerchuk is far from the only entrepreneur and business leader to use NFTs to grow support for their products. Prada recently launched 100 Ethereum NFTs to coincide with the release of its latest Timecapsule apparel from Prada’s latest partnership with Cassius Hirst, son of English artist, entrepreneur, and art collector Damien Hirst. Buyers will receive an NFT along with their purchase.

The project, known the Timecapsule NFT Collection, is a monthly online event in which shoppers can access both a physical product and a gifted NFT. Each Timecapsule item bears a unique serial number and in packaging exclusive to its contents. The brand’s initial offering is Prada x Cassius Hirst black or white shirts that come with a corresponding GIF of a black or white pill capsule. The NFTs validate the transaction by referring to the serial number of the drop and by assigning a number to each individual shirt.

Big businesses are not the only ones taking advantage of the power of the digital currency – individuals are also making the most of the NFT communities. NFTs helped Chanel Lee bring her memes Tasty Toastys to market, for example. Lee introduced her randomly-generated bread cartoon in November 2021, before she had built up an international network substantial enough to attract attention to her cute and simple designs. After reworking and relaunching the collection in January 2022, Lee began holding gatherings on Twitter Spaces in which Tasty Toastys NFT holders can chat with each other in audio conversations; she also created an exclusive Discord server for NFT holders who prefer to type. Tasty Toastys also host events in the metaverse, such as the Decentraland party in which community members can wear a Tasty Toastys backpack while dancing to a live DJ, all as their NFTs hovers over their shoulders.

It’s hard to tell where NFTs will be in a year from now, but one thing is clear – NFTs will continue revolutionizing how we market, track purchases, and talk about art and all other commodities, digital and otherwise.

ABOUT FRANK MAGLIOCHETTI

Filed Under: Blockchain, ClickStream, Featured, News, NFT's, Nifter, Trends Tagged With: 2022, CLICKSTREAM, FRANK MAGLIOCHETTI, NFT, NFT MARKETING, NFT NEWS, NFTS

NFT’s – Growing in Use and Scope

September 3, 2021 by admin

Once considered a fad phenomenon, non-fungible tokens (NFTs) show no signs of stopping. In fact, this new investment trend appears to be gaining in popularity. In fact, there were $2.5 billion in NFT sales in the first half of 2021, according to Forbes, and $1.2 billion just in the month of July. Clearly, NFTs have expanded well beyond cute digital penguins.

NFTs are digital assets representing ownership of virtual items, such as computerized art and sports highlights. They’ve been around since 2014, but NFTs have hit it big recently. Christie’s rocked the auction world in March of 2021 with their record-setting $69 million sale of the digital work by Beeple.

Several big names are jumping on the NFT bandwagon. Tom Brady’s Autograph provides a way a way for fans and collectors to own a piece of iconic moments in sports and entertainment, for example. The platform will sell authenticated and official digital collectibles from high profile athletes, such as the football legend’s friend Derek Jeter, hockey star Wayne Gretzky, and 1980s skateboard legend, Tony Hawk. Other notable athletes have signed on as well, such as G.O.A.T Simone Biles, Naomi Osaka, Tiger Woods, and more.

Major brands are now acquiring popular NFTs. Following a number of household brands, such as Snickers, Milky Way, Axe, Slim Jim, Burger King, Oscar Mayer, Budweiser entered the world of digital art collecting with its first purchase of art pieces created by Tom Sachs. The artwork, named “Life of the Party,” depicts a rocket made from the Budweiser logo and sold for just over $25,000.

Several big names, such as Gucci and Burberry, are offering limited-edition items exclusively on blockchain. Gucci partnered with Christie’s to present its first NFT: a digital drawing inspired by the brand’s latest fashion film presentation of the spring 2021 collection, “Gucci Aria,” directed by Alessandro Michele and Floria Sigismondi. By the auction’s close on June 3^rd, the NFT fetched $25,000.

On August 4, 2021, Luxury clothing brand Burberry introduced its non-fungible token (NFT) collection in Blankos Block Party, a popular blockchain game by Mythical Games. The game features NFT vinyl toys, known as Blankos, that users can collect, upgrade, and sell. Burberry will release a limited-edition, limited-quantity Burberry Blanko – a shark named Sharky B – for the game. Burberry will launch its own branded in-game NFT accessories, such as a jetpack, pool shoes and armbands that players can apply to any Blanko they own. Burberry Blankos not only provide a way for players to up their style, they also pave the way for player ownership in gaming.

Decentraland is a user-owned virtual world in which participants can game, build marketplaces, and even attend NFT art shows. Decentraland also offers wearables for avatars, such as cat eyes, a creepy mouth, patchwork sweaters, hats, pants, and earrings. NFTs can allow users to move in-game items, such as wearables, from game to game. Someone could win a new skin for an avatar in one game, for example, and transfer the skin to a different avatar in a different game.

The new generation of NFTs also make it possible to create and maintain a persistent identity across multiple games and even across multiple platforms. Many platforms allow you to create a unique avatar for each game you want to play. Unified identities could replace the slew of avatars with a single identity, one that allows other users to recognize you between the various games and platforms.

Investors are taking notice of NFTs. Mark Cuban took a stake in the Singapore-based startup, Alethea AI, which is creating “intelligent” versions of NFTs. Users can embed AI animation, interaction, and even voice synthesis into digital art. The company sold one intelligent NFT (iNFT) at a Sotheby’s auction in June for $478,000. The iNFT, named Alice, answered questions in real-time in a live Twitter feed just before the sale. Today’s iNFTs are fun and entertaining today, they also lay the foundation for unimaginable interactivity tomorrow.

NFTs are also funding television shows and movies. An NFT project will fund Mila Kunis and Ashton Kutcher’s upcoming show, Stoner Cats, in which big names like Chris Rock, Jane Fonda, and Seth MacFarlane provide voiceovers to a cast of mischievous cartoon felines. The new series is only available to NFT holders, who snapped up more than 10,000 NFTs in just over 35 minutes at the end of August, 2021. The sale raised more than $8.4 million.

On Aug. 23, Visa announced that it had purchased Crypto Punk #7610 for just under $150,000. Why? Cuy Sheffield, Head of Crypto at Visa and an NFT enthusiast, says that the company believes “NFTs will play an important role in the future of retail, social media, entertainment, and commerce.” He says that NFTs will also make it easier for companies to pay their partners across borders.

While corporations are raking in big revenues with NFTs, smaller entrepreneurs are also benefiting. Benyamin Ahmed earned more than $255,000 in a single day from his second NFT collection, Weird Whales. Ahmed earned another $95,000 from the resale market. Not bad for a 12-year-old! This budding coder is already working on another NFT project.

Young coders like Ahmed and big investors will change how we use NFTs. While it is hard to imagine what NFTs will look like in the future, one thing is for certain – NFTs are more than just a passing phase.

ABOUT FRANK MAGLIOCHETTI