So, SaberZ released a track via the NFT route, titled “Konoha”. The aftermath was various negative reactions from the fans. Candidly, they had a twenty-minute or so of a livestream explaining the rationale behind this decision. Since the song wasn’t approved by labels, and with these times being the toughest for any live-performing artist, they decided to follow the NFT path. Now one may ask why I am speaking about this again (especially after our last article regarding the digital tokens)?
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First of all, the previous written piece from my teammate @edmrevnik about the fallacies of NFTs (pointing out that mostly big names can earn a sizeable profit) lacked a more technical, yet important detail. NFTs happen to be a link on the web stating that artwork is owned by a certain individual(s): say, if the company’s site goes down, it’s lost. Citing Dash: it’s like paying for having your name added to an Excel sheet. CNN stated that the prices for NFTs have taken a massive 70% dip in the last month alone, as more and more people are starting to understand that it could a giant, collapsible and risky bubble. As a software developer that has a clearer idea about blockchains, I have the feeling that most people jumped on this bandwagon after hearing the magical words of the contemporary times: “bitcoin” and “crypto”.
This doesn’t however signify that NFT are technically a scam. Consider them also as a way to donate to your favorite creator and if you speculate on them, then that’s your choice; good luck when the hype has vanished into thin air.
SaberZ have a good reputation, and I love them as artists, but they simply released a free download for the fans because labels rejected the song, and more awareness is needed about how many artists are earning absurd revenues. There is a pinch of ingenuity, but not maliciousness. I am still shocked from the fact that they earn only a meager few hundreds of Euros from royalties, yet they still keep releasing tons of quality music. If this isn’t a sign of devoted passion towards their craft and how the situation is terrible for EDM producers, then I don’t know what is.
Sure, “Konoha” could have been an old-school free download, but I think it’s fair to “aim for the money” for one time,especially if there is nothing particularly fishy here. If you are willing to pay a lump-sum for your favorite duo and receive a special, unique prize in return, then do it. Hating on them is intolerable: people doing so should understand that asking for donations is perfectly ethical (as many have done on their SoundCloud and Spotify pages), especially during these rough days.
Other than that, let’s keep it simple: NFTs still remain dicey at best, as most common folks don’t comprehend the reality surrounding it. Next time, a simple free download with the possibility to donate could be a safer (and more fair) approach.
What do you think?
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