Scaling NFTs With Upgrades!

The other day I wrote a post about NFTs which you can find here: Only Scratching The Surface of NFTs and today I want to dive deeper into all of that as NFTs continue to evolve and offer up new resources.

An Artists Future

When you think NFTs you might thing artwork only but in reality it's effecting many other "art" communities. From Illustrators, musicians, fashion designers, painters, content creators and more NFTs have opened up a huge new world of revenue, collections and value.

With NFTs you know that the art you have is fully back by the blockchain and in being so also know that it's the original or how many exists and by what wallets. You also know where it originated from allowing for a tamper proof system to verify ownership and legitimacy.

The Upgrade

Memes are a huge thing but when you dig into them you quickly find out there are MAJOR legal issues with production of them. This is also the case of artwork where someone might take an original artwork and add to it and "claim" it's their own. But because the orgainal artwork was used in theory that art is still owned by that artist.

So how do we combat this and make it all legitimate?

Introduce the upgradable NFT. This upgradable NFT means the original artist could release a few more copies of the original artwork and tag them as "upgradable" this artwork would have rights from the main artist to be manipulated and used and perhaps giving a little kick back to the original artists but still allowing the new creator to earn from it as well.

So what other upgrades could a NFT have?

• Dynamic cards - offers up a NFT that changes. This could be done for sports collector cards in which the image or stats would update as the player progresses in their career. Perhaps possible start and end snapshot NFT drops of the card to the owner that are static thus growing their static card collection for owning the dynamic card is another very real possibility.

The Music Industry

With the hit of covid and shut downs across the world for a long period of time concerts and groups just were not a thing anymore. Money was RARELY earned from streaming platforms like Spotify for example instead it mainly earn from merch, bookings, events and such. Thus with the shut down artists started speaking out against streaming services for offer little to no pay on their songs. Trust me it's horrible as I've been working with a few music artists.

The solution for now... NFTs selling your songs, cover art, videos, live performances as NFTs to your fans. This gives them a unique ownership with some perks if you want to offer them up to verified owners. It's a great way to build value for your music career as the world doesn't seem to be going back to the old normal any time soon!

What do you think the next advancement in NFTs will be?
let me know in the comments.

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