How can a Music NFT marketplace best function for Decentraland ?

by 0xa77610fcb5288bc95849c64136df159dd3efe6ac (MetaArchs)

I've been pondering the idea of music NFTs that can be utilized in Decentraland.

Rather than keeping the idea bottled up - I've decided to quickly write this poll to generate some further thought and deep thinking about how this can function in a way that makes sense for the community of attendees, music producers, and DJs.

1. My initial idea is that music nfts in dcl can be the equivalent of digital vinyl. Whereby owning the NFT gives you the right to play music in venues that have a smart item that is the equivalent of a DJ booth. This would allow DJs to only play music when making use of the aforementioned smart item and owning the corresponding NFT.

Pros:

• gated music at select venues
• revenue for music producers who create music solely for Decentraland audiences
• the first and only music nft with in-game utility
• reminiscent of the days when DJs would carry vinyl to events

Cons:

• inability to mix tracks appropriately through a smart item
• at the start very small pool of music NFTs to choose from
• not a better option than streaming music from outside dcl into world

2. Another idea could be to have music NFTs which are minted by users as a way to add songs to a smart item jukebox that can only be populated by music NFTs that a landowner owns or that a user has in their wallet.

Pros:

• simple setup and easily understandable
• on-chain verifiability that a landowner/user owns certain music records, similar to wearables whereby your taste can be expressed by what you show off
• can be left passively on your property to add an interaction for your visitors

Cons:

• can easily set up a jukebox with any music that is not an NFT

3. A third idea could be a fan engagement/benefits type model whereby all music minted on the DCL marketplace comes with particular benefits that are decided upon by the artist and could be a way for fans to support up-and-coming artists before they are famous with in-world or IRL benefits.

Pros:

• Can be applied to famous artists to enhance the engagement of fans
• Can be paired with in-world concerts and meetups to promote album sales as well as IRL events
• A low-budget option allows anyone to get in early and benefit from an artist blowing up (might be free but limited supply could result in minted music becoming collectible down the line)

Cons:

• How to ensure promises are kept

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I am extremely open to further deliberation and ideas.

There is no wrong or right questions, comments or suggestions.

I believe that the concept I am proposing is extremely unique and can potentially create another stream of income for the DAO which is currently unsustainable with its outflows of MANA$

In the poll choose your favourite idea. If you're thinking of mix and matching the concepts, please leave your comments below. Please do get in touch if this idea resonates with you! I would love to brainstorm.

Best regards, Luca Arrigo https://www.linkedin.com/in/luca-arrigo/

• Sounds good, formalize your thoughts and make a proposal
• Your ideas sound whack, go home
• Invalid question/options

Vote on this proposal on the Decentraland DAO