TheTopSpotOnline

Some of us remember a time when an up-and-coming artist would walk up to you with a CD in hand asking you to buy their music. Usually, it would be for $5. A seemingly fair price to pay for an unknown artists mixtape. Hopefully you’d find 2 or 3 songs you liked, and the artist would get a direct payment for their music. A Win-Win. Streaming platforms have done away with this intimate transaction between fan and artist. Today an artist would have to get over 2,000 streams before earning $5. The fan would be on to the next song and the new artist forgotten and replaced by someone else in 3 minutes. The Music NFT at TheTopSpotOnline promises to bring back the days of the intimate transaction between fan and artist.   

TheTopSpotOnline is positioned to show that Music NFTs are the future of the music industry. We have implemented a way to create a metaverse economy around recording artists, their music, NFTs and Cryptocurrency. What a Music NFT is at TheTopSpotOnline is a mutually beneficial relationship between fan and artist.

What are Music NFTs at TheTopSpotOnline? 

A Music NFT at TheTopSpotOnline, NFT stands for non-fungible token, is a unique digital asset that lives on the NEBL blockchain, and can be bought, sold, and staked. NFT staking allows owners to earn income from their NFT collection while retaining ownership. Where a regular NFT is typically a digital graphic image asset, a music NFT at TheTopSpotOnline is also tied to a song on a streaming platform. 

The benefit of creating Music NFT’s at TheTopSpotOnline is that you are creating a metaverse economy around the artist’s music. Music NFTs at TheTopSpotOnline allows the artist to press up as many copies (NFT’s) as they want, for each song they have on each streaming platform. Whether it’s Spotify, SoundCloud, Apple Music, YouTube, Amazon Music, Tidal, TikTok, Deezer and many more a Music NFT will allow an artist to set their price and offer their NFT’s directly to fans. Fans in return get a stake in their favorite artists’ music and the artists’ success. As the streams and playlists placements increase on streaming platforms TheTopSpotOnline will track a song’s growth. This growth is updated in the Music NFT’s metadata. The NFT owner can then receive a cryptocurrency payout from the artist. TheTopSpotOnline allows an artist to create their own Cryptocurrency Token NTP-1 on the NEBL blockchain that they can use to pay their fans that have bought their Music NFTs in line with the song’s growth on the related streaming platform.

A Change in the Music Industry

Because of the creation of music streaming, money-making opportunities for recording artists have drastically decreased. As we discussed earlier, NFTs have made music into pieces of digital art, turning it back into a commodity that can be bought and sold like it could in the heyday of the music industry, via CDs, cassette tapes, and vinyl records. Music NFTs allow fans to invest in artists that they enjoy and believe in, while receiving financial gains in return. Conversely, they allow artists to fund their music projects directly through the support of their fans.

Fans as Investors

Brad Jones, a founder of TheTopSpotOnline and former music producer, believes this new process empowers recording artists to remain in control of their music regardless of their status as signed or unsigned.  

“Established artists that don’t control their music can own and control their Music NFTs allowing them to once again earn money from the music they’ve created,” says Mr. Jones.  

 “TheTopSpotOnline allows an artist to reap the benefits of being signed to a major label and still have the ability to earn off of their music as it grows in popularity and the fans can earn money as well. While the labels can also benefit from the fans continued streaming because the more streams for a song the more an artist can payout to their fans with the artist’s Crypto-token.”  

What the Music NFT and the unique NFT staking process created by TheTopSpotOnline does for the artist and the fan is the fostering of a symbiotic relationship that allows both to prosper as the music gains in popularity. So, the Music NFT at TheTopSpotOnline will track things such as stream count, playlist adds, likes, followers, popularity and engagement. As these numbers go up, the value of the Music NFT will go up because the artist pays out based on these statistics.

Fans as Fans

Before Music NFTs, fans would share and listen to music because they loved the music. Now when fans stream and share their favorite artists’ music they are getting a return. The more streams for a song tied to a Music NFT they own the more artist Crypto-Tokens they can earn. So, fans acting as fans positions them to be vested promoters for the artist and their music.  

The difference between streaming your favorite artist’s music and buying your favorite artist’s NFT is the contribution you make in growing the artists reach that now offers an expected return. Besides that, it results in artists being able to fund their projects. The relationship is a bit different with Music NFTs because they are purchased to help fund an artist’s creative endeavor, but also with the hope that it will deliver a financial return. 

The Music NFT at TheTopSpotOnline doesn’t get its value because it’s an intriguing digital picture but because it is tied to the popularity of the song it represents and the platform that streams it. The artist’s Crypto-Token’s value is also based on the success of the artist. As the artist grows so does the demand for their Token.

Building Music NFT Economies

We have the NFT’s. We have the Crypto-Token. TheTopSpotOnline also provides a user defined Marketplace controlled by the artist. Where the artist can sell not only their NFT’s but other merchandise as well. If the artist limits the only acceptable currency in their marketplace to be their own Crypto-Token, then we have the makings of an economy. This is the secret to the success of TheTopSpotOnline’s Music NFT the artists Marketplace or Spot at TheTopSpotOnline. The NFTs and Crypto-Token offer a money-making opportunity for more than just the artist. They establish a marketplace where the fans can thrive also.  

With NFTs, an artist just needs 500 to 1,000 fans that really rock with them, that want to see them succeed, and are willing to invest and join in on their success.

How to Buy Music NFTs

Now that we know what music NFTs are, and their potential, let’s talk about how to buy and sell them. 

Music NFTs can be bought and sold at TheTopSpotOnline.com. Sites like Royal, Opulous, Catalog, and Sound XYZ, are marketplaces solely for a special kind of music NFT called an LDA, or limited digital asset. The Music NFT at TheTopSpotOnline is designed to allow artists to share the success of their music on streaming platforms through the disbursement of the artists’ cryptocurrency with their fans. As the platform data around an NFTs song grows so does the number of Crypto-Tokens awarded to the NFT owner. 

Neblio Blockchain

You’ve likely heard of the leading cryptocurrency Bitcoin, but TheTopSpotOnline’s music NFT marketplaces use “NEBL” on The Neblio Blockchain. Crypto-Tokens on the Neblio blockchain are called NTP-1 Tokens so all artist tokens will be NTP-1 Tokens. Creating your unique NTP-1 token could not be easier at TheTopSpotOnline. Simply register and you will be given an NTP-1-compatible wallet. Issue your tokens with your unique name, symbol, icon, quantity, and metadata with a simple form. Once your tokens are live on TheTopSpotOnline you are ready to begin making your marketplace and NFTs.  

The Bottom Line

Whether you’re investing in music NFTs, fine art, or stock in a company, there is inherent risk, and some investments have better track records than others. Music NFTs are so new that we don’t yet have long-term data about their returns. If you want to get involved with NFTs, obviously use the golden rule of investing which is, only invest money that you would be okay with losing.