NFT and music: revolution or fashion? Meet Kévin Primicerio, co-founder of Pianity, the NFT music platform!

As NFTs occupy an increasingly important place in the world of culture, especially music, many are questioning the interests and future of this system. To answer our questions we were able to do an interview Kevin Premesiro, CEO and Co-Founder of Biante, a French platform from the musical NFTs.

There is nothing better than meeting a professional to understand and obtain a professional opinion.

Kevin Premesiro, CEO and Co-Founder of Pianity

What is the point of buying NFTs music? What is its added value?

NFTs present many interests to artists but also to their fans. With NFTs, fans and music collectors can own a piece of music and create their own music collections.

Purchasing an NFT from an artist is an opportunity to show your support and create a special and emotional bond with the artist, by acquiring a unique piece. It’s a way to give direct support to your favorite artists, to collect art pieces and to testify that you are a part of the artist’s career, sometimes right from the start.

It’s also a way to reward that support. Because each NFT is unique, and the originality and ownership of the original work can be demonstrated, its value can increase based on its rarity, and as the artist’s career progresses.

What is the progress of the NFT music market in France?

More independent artists and labels are also selling NFTs. Today we work with nearly 100 posters and over 500 artists on Pianity who have sold nearly 12,000 NFTs. In all, we’ve donated more than $2 million to our artists, because many of those sums you would not have expected through live broadcasts.

Things are moving really fast, we Works with artists but also with posters and distributors In order to propose a new, more fair and transparent model. This is a transition that will happen over time, as the transition from legal (and illegal) downloading to streaming, we are entering a new era.

Should we talk about evolution? Or a revolution? Or the influence of fashion?

We can really talk about a revolution with NFTs. It is a technology that forms part of the transition from web2 to web3, the Internet of decentralization, trust and ownership. Until now, a digital file, especially music, could be copied endlessly without being able to identify the original file and its properties. The entire NFT revolution lies in this ability to authenticate the authenticity and ownership of every file, all of which are publicly stored on the blockchain.

Above all, each file is unique and has its own value, it is the end of an economic model for the music industry. We break out of the logic: a piece has the same value as another piece, and we put art back into music by allowing artists to create value around the work.

What are the motivations of the artists embarking on the NFT music adventure?

First, there is the financial problem. Although revenue from recorded music continues to grow, artists have struggled significantly with the transition to a broadcast-based business model. Today, to earn €1,000 an artist has to make more than 3 million streams, it’s so hard to get to scale that 97% of Spotify artists earn less than $1000 per year! So there is a real need for artists to find a new way to monetize their music.

The other motive is technical. NFTs provide more freedom for artists in their creative processes, ie no longer restricted by the format and duration of pieces. Since compensation was no longer dependent on the number of plays, artists did not have to create shorter songs to increase the number of streams.

Finally, the third is to connect more with their fans and super fans, those who really support them. Thanks to NFTs, the artist knows exactly who owns each NFT, so he can develop a closer relationship with these super fans, by offering them exclusive content, by providing behind-the-scenes access to the owners of one of the NFTs, by adding them to private discussion groups.

What “musical family” is most sensitive to this new medium?

The electronic scene is particularly well represented, in particular because many DJs are independent and own masters. So it is easier for them to sell the NFT products of their creation since there are fewer rights holders. However, all artists are interested in NFTs, regardless of the size of the streams, the size of their audience, or their music genre.

Can Musical NFTs Be Considered A Kind Of Financial Investment? sIf this is the case how do we avoid the risk of a speculative bubble?

In fact, many NFT collectors are investors. Whether in music, visual arts, or even gaming, NFTs can increase in value due to their rarity and artist success. Some investors will buy NFTs from emerging artists so that their value increases once the artist becomes better known, or buy rare NFTs from already known artists to resell at a higher price.

On the other hand, owning NFTs can be a passive income source. For example, at Pianity, every week we donate 50% of the sales made in the previous week in the form of tokens to our users. Depending on the size of your group, you receive a greater or lesser share of the redistributed income.

For example, if you buy an NFT from a budding artist at €40, if that artist becomes very well known, their work will increase in value, and thus you will be able to resell the NFT at a higher price. In addition, the artist benefits from the right of resale, because every time an NFT is resold, the artist receives 8% of the transaction.

For more information, you can visit the website: https://pianity.com

Interviewed by Juliet Patti

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