The real benefit of NFTs is that they can strengthen the relationships musicians have with fans and grant artists more control, says Mandeep, a rapper and doctor who has recently released his Bitcoin EP 1 on the RelayX platform.
The album, which includes the tracks Trader Joe and Satoshi Bop, is comprised of seven songs. Each one has been released with a corresponding NFT, which fans have been invited to purchase using Bitcoin SV.
The NFTs, known as $DEEP tokens act as lifetime revenue shares connecting holders to Mandeep’s music. This means that any fees he gets when his music is played will be shared out amongst token holders.
“I think that’s one of the main games that Bitcoin lets you play; it finally gives you the chance to control the incentives that people have for interacting with your work in a way that is completely flexible and up to you and so that’s the power that I’m trying to leverage to build a stronger community behind my work.”
Speaking on this week’s CoinGeek Conversations, Mandeep says that he believes this will be an improvement on the status quo, where fans are only able to stream music on Spotify, with no real connection to the artist.
“NFTs allow you to have greater control over what happens to your relationship with the consumer after the track has been released,” he adds.
While this might sound altruistic, Mandeep explains that there are benefits for the artist as well. If a fan is financially invested in a track, there is more incentive for them to share the music with friends and on social media, thus increasing its popularity.
Mandeep predicts that others in the industry will soon come around to his way of thinking. He points out that a profitable NFT music platform, Jamify, has already been built on the BSV blockchain to host musicians like him and ensure they get the exposure they deserve.
Mandeep has even brought his music into the hospitals he works in. He says he often tries to encourage patients to freestyle with him, believing this to be particularly helpful for younger patients with mental health issues who might struggle to put into words how they are feeling under the scrutiny of traditional therapy.
“I just see rap and hip hop as a continuation of the traditional literature, I think it’s just modern storytelling. And I think just by virtue of the fact that that there are so many words in a rap song, you often get quite an exposed and vulnerable insight into what the person is going through.”
His devotion to music is such that he is taking the bold step of quitting a career in medicine to focus on it. From August this year he plans to scale back his time spent on the wards and concentrate on music instead, although he does plan to return to medicine later as a “psychiatrist… with a grey beard.”
Medicine’s loss will be Bitcoin SV’s gain, as the multi-talented Mandeep is already using his creative thinking and passion for music to shake up the industry, one freestyle at a time.
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