“Malaysian rapper Namewee an instant millionaire as single ‘Fragile’ sells for RM4m as NFT”
The headline is actually very misleading.
No he did not make a million dollars just from the sale of the one song “Fragile”.
It was a collection of 99 NFTs he minted on OpenSea.
Collectively, all the NFTs sold for more than 209 ETH.
And to top it off, he was probably already a millionaire before this happened.
Namewee is one creative genius.
He knows how to speak to his fans, make good music and direct movies.
Paving the way for others, he was one of the first few artists to embrace NFTs for music.
He is particularly known for his antidisestablishmentarianism.
Oh and achievement unlocked.
I managed to use one of the longest word in the English dictionary!
The new single ‘Fragile’ was banned as it contains mockery of Chinese president Xi Jinping. There are also sensitive topics such as Covid-19, censorship, cancel culture and the Uighurs.”
To be honest, it was probably the best way to go about promoting the single.
Fragile was banned in China immediately.
Both artists, Kimberley Chen and Namewee’s weibo accounts were banned too.
That actually made more people curious and fed the frenzy.
Remember, it’s the modern era of social media.
Social media thrives on controversy and action.
When you ban something, there is a chance it goes underground and that makes it more appealing for people to uncover and obtain.
I find it very amazing that musicians can carve a portion of the NFT market for their own.
They are no longer at the mercy of big publishers.
They have the support and love of the community they build with their own hands.
Being able to monetise from your own community is a powerful mechanism that will feed and give back to the ecosystem, making it self-sustaining.
Perhaps in the future, the community can suggest and request for certain kinds of songs to be made, allowing the artist to fulfil their requests.
According to the transactions on OpenSea, the actual song Fragile was sold for 1.5 ETH and then resold for 2.11 ETH.
Question: when you buy the song from the artist, what do you actually own?
The copyrights to the real song or just that copy the artist minted on the blockchain?
Can I now take that song and repurpose it for my own use now that I own it?
Or do I just own a copy of the song and there can be many other copies?
Welcome to wonderful, nascent and blossoming world of NFTs.
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