Alternative NFTs

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The introduction of NFT has undoubtedly changed the art market, but blockchain technology is set to exert its influence in all manner of creative endeavours. As with art, NFT provide a way for creators to gain greater control over their work and more ways to financially benefit. NFT smart contracts will help authenticate work, track provenance, and allow creators to benefit from royalties when their works change hands in the open market. As more forms of creative content transition to digital environments ever more options will arise. Here we introduce just a preview of what will be possible in the near future. 


Novels, non-fiction, and comics are all starting to appear as NFT on OpenSea and other exchanges, as well as a growing number of dedicated NFT book markets. Authors have the ability to maintain high degrees of control of their works, limit production runs, include special offers such as signed copies, meeting authors or event access, as well as give people the chance to own parts of the book and artwork. Start-ups such as Bookchain already offer full-package NFT services in this area. Self-publishers are attracted by the product control and income opportunities available, but even major publishers such as Marvel Comics have started to enter the NFT market. 


Whether it is record labels or services such as Spotify, the music industry is notorious for powerful intermediaries that control the industry, and take the lion's share of profits. It is forecast that NFT will enable musicians to bypass the middlemen and sell directly to their fans, as well as retain artistic control and offer unique ways for fans to flex their loyalty with physical and digital exclusives. In March 2021, the Kings of Leon became one of the first bands to release an album as an NFT with a variety of bonus tokens including a special album package, front row seats at live events, and others for exclusive audio-visual arts. 1f1c05ad7b606288/0 


Quentin Taranatino earned himself a lawsuit from Miramax when he tried to sell Pulp Fiction outtakes on OpenSea, but Hollywood studios saw the direction things were heading and are now selling clips and assorted collectables from their movies. However, the greatest opportunities could be for small and independent moviemakers that can offer NFT-based privileges and unique collectables as incentives for investing in their projects. This Kickstarter for movies concept has already begun, with the upcoming movie Zero Contact, starring Anthony Hopkins, which offers NFT holders the chance of a walk-on role and opportunities to be edited into the film. 


Physical excellence is also set to make its mark in the NFT space. In early 2020, the developer of CryptoKitties, Dapper Labs, released NBA TopShot, a project to sell NFT collectables of NBA highlight clips as a digital form of player trading cards. The project has brought in hundreds of millions of dollars in sales for the company, and even more for owners in the secondary market. NBA TopShot's success has already seen football (soccer) enter into the NFT market, with more sports soon to follow.