Sean Moore (left) and Citizen Vinyl founder Gar Ragland (Photo: Matt Peiken | BPR News)<\/p><\/div>\n
Artists whose music resides on the Vinylkey album can continually offer and update unique benefits for record owners, which can include concert tickets, a VIP line to a show, or a round of golf with the artists. The NFT also provides proof of the album’s life history, Moore says, which could increase the record’s value. \u00a0For instance, he states, “Maybe the album was owned by a famous DJ who used it at certain concerts.” Rapper Money Man released his Big Money<\/em> album with a Vinylkey collector’s version, while Moses Sumney provided a Vinylkey-based version of his album Live from Blackalchia<\/em>, recorded at a concert in Miami.<\/p>\nThe pressing plant expects to outgrow its current monthly capacity of 40,000 albums, and it will look into enabling greater capacity, as well as selling its patent-pending Vinylkey technology to other plants. The company does not work with artists directly, but rather with either their business managers or record labels. How they distribute the Vinylkey albums is up to the artists, Moore notes. The records could be sold on tour or at their website, for example, or they could be sent to a distribution center to be made available for sale at record stores. The blockchain traceability of the specialty albums will then help artists and record label trace the records’ resales.<\/p>\n
Musicians have been unable to participate in album resells, but with NFT’s they can now receive a percentage of secondary sales, since such transactions happen in marketplaces on the blockchain. The albums are more expensive than standard albums, and the price can be determined by an artist or label, depending on the features built into the NFT. “These are going to tend to be more high-value albums,” Moore says, “that the buyer would want to protect and say ‘This is mine. It’s authentic.'” The company recommends that artists and bands create 10 percent of their albums in the Vinylkey version.<\/p>\n
<\/p>\n
Key Takeaways:<\/strong><\/h3>\n\n- The vinyl pressing company is using NFC technology to provide intelligence to collector albums, enabling automatic access to a record’s NFT.<\/li>\n
- The goal is to help artists engage with their fans after an album is purchased, as well as earn a percentage of resale transactions.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"
Vinylkey allows users to pay for a specialized album with their phone, as well as confirm its authenticity, access content and create a proof of ownership via blockchain.<\/p>\n","protected":false},"author":196612,"featured_media":196377,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_ppp_document_settings_meta":"","__cvm_playback_settings":[],"__cvm_video_id":"","footnotes":""},"categories":[472],"tags":[19,94],"acf":[],"yoast_head":"\n
NFC Provides Authentication, Content for Collectible Vinyl Albums<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\t\n\t\n\t\n