The 5 Best Music NFT Platforms for 2023
Here’s how to find the best music NFT platform for selling your music or music collectibles
Maybe your entertainment brand has already dove into the deep end of NFTs (non-fungible tokens) with a range of artist and community collaborations. Or maybe you weren’t convinced by the early days of NFTs and observed from a distance instead. Either way, the still-young technology has steadily redefined public perceptions of scarcity and value in ways no one expected. But now that it’s integrating with another technology that promises to redefine how we work and play, it may be time for your next (or first) on-chain project. We’re talking about AI (artificial intelligence) NFTs.
This link between the blockchain and modern AI technology is introducing new ways to create content that dovetail perfectly with Web3’s new ways to own, trade, and sell assets. But what do we mean when we talk about AI NFTs, and what makes them a powerful pairing for businesses, brands, and creators in the entertainment industry? Let’s start by defining the term.
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What Separates AI NFTs From Traditional NFTs?
3 Benefits of AI NFTs for Entertainment Brands
New Ways to Let Fans Engage With Your Brand
Tap Into Nigh-Unlimited Generative Possibilities
AI NFTs Are Just Getting Started
AI NFTs are non-fungible tokens that represent ownership of an AI model, which itself can be used to generate further content. For instance, this may take the form of a virtual artist that renders images in a particular style, or a digital conversation partner modeled after a famous historical figure. In the case of the virtual artist, its creations could then be automatically tokenized for sale on the blockchain as static assets. In the case of the historical conversation partner, the user input and unique conversational model generated by the AI could be used to seed “descendants” that make their own way onto the blockchain.
It’s important to draw a distinction between AI NFTs (sometimes called intelligent NFTs) and AI-generated NFTs. Returning to the example of the virtual artist and its tokenized art, the artist would be an AI NFT — because holding its token conveys ownership of the AI model used to create the images — while the art would be an AI-generated NFT, since the token corresponds to that one piece of static art.
How could you reach your fans in new ways if you were able to sell not just static content, but self-generative experiences? What would people create in collaboration with your branded AI NFTs, and how would they spread those creations? The medium presents an intriguing approach to asset tokenization for brands, but — as with any new technology — should be approached with care.
You need an expert in the field of NFTs to make sure you’re getting the most of the medium while avoiding potential pitfalls. Schedule a demo of Dibbs’ tokenization solution to activate your brand’s Web3 marketing strategy, give your consumers exciting new ways to connect with you and create communities around your collectibles, all while safeguarding your brand’s legacy.
Some of the best-known applications of NFTs have given their holders blockchain-verified ownership of static, digital goods and experiences. For instance, Bored Ape Yacht Club token holders own uniquely illustrated ape avatars, while NFL All Day token holders possess highlight clips of memorable football plays. Some tokens, such as those from NBA’s The Association collection, are built to change over time in response to external factors.
However, none of these NFTs are truly generative in their own sense. The ability to change, grow, and create in response to the unique input of their token holders (and anyone else the token holder may permit to do so) sets AI NFTs apart from their traditional counterparts.
We’ve already painted some of the reasons entertainment brands should be excited about NFTs in broad strokes. Here are some more specifics about what they could mean for your business.
Let’s say you have a certain character who diehard fans love. Your social media mentions are always full of requests to give this character more time in the spotlight. Rather than simply waiting and hoping that their wishes are granted, you could mint a set of AI NFTs that allow your fans to interact with a virtual counterpart to that character whenever they want — asking them questions, learning about their fictional world, and teaching that counterpart about themselves in the process. Does this kind of virtual persona interaction sound far-fetched? It shouldn’t, because it’s already been done. All that’s missing from the equation is your beloved IP and the passion of your fans.
This street goes two ways. Owning an AI NFT also means you also own whatever it makes. You could create an AI NFT that’s trained to generate beautiful images based on your own existing songs, art, or cast of characters. Then you could take your pick of the best and use those tokenized assets in your brand’s own creations, and sell the rest to your fans to let them own a piece of authentic brand history straight from the source.
The entertainment benefits we discuss for AI NFTs now will inevitably be eclipsed by what’s coming around the corner, because the field of AI is growing at such an incredible rate. There’s no way to know what kinds of amazing things will be possible in 10 years. But one matter is easy to predict: One of the biggest challenges in saving costs is time–– lost time. Brands that start integrating AI NFTs into their creations and community engagements now will be a step ahead in capturing those possibilities compared to those who don’t, and that could be even harder to put a price tag on.
If you’d like to learn more about how practical tokenization solutions can bring new value to your business’ assets, you can take one simple step right now: Schedule a demo with Dibbs, and start preparing your entertainment brand for a more engaging, efficient, and profitable future on-chain.