Angela Steffens (@wonderwomancode) • Hey
Developer Advocate & Community Lead
@UnlockProtocol
Publications
- 🍿
- This seems like a tipping point.
People are starting to realize that censorship-resistance and immutability are properties that are meaningful to the average person – not just those who are persecuted
- Here's my idea for Nights & Weekends S2.🌱
During my time in ETHIndia, I've seen newcomers struggling a lot to get started.
That is why, I want to create something for beginners just to get started without getting overwhelmed.
What do you think?🌈
- Elon is working hard to drive people here today!
- And... now my Lens music collects show up in my music NFTs on @oohlala.lens so I can easily curate and create playlists with them!
@motiveunknown.lens ofc you're prominently featured 🥲
- Here's the latest Motive Unknown Digest intro for you all...
Talk to any lawyer on the topic of NFTs and royalty splits and the response you’ll get might vary at best from “mildly amused” to “outright apoplectic”.
The problem to date has always been that most of the legalese surrounding these splits etc hasn’t been especially water tight - which, in legal terms, just means it is either worthless, or inviting all manner of issues further down the line.
Today, it would appear Justin ‘3LAU’ Blau is unfortunately going to have the quality of his own NFT auction - or more specifically the legal framework around it - tested in court, after an artist and collaborator on his ‘Ultraviolet’ album has sued. And with a $11.7M made from the NFT sale, there’s arguably a lot of money on the block here.
In reality, and with the “IF all these allegations are true” caveat, I suspect the issues here are less to do with NFTs and more to do with basic legal due diligence. If one is to explore whole new methods of selling music, it makes a lot of sense to ensure your entire position is locked down, legally speaking.
The reality suggested here is that this was not the case, with various assumptions made along the way that might now come back to haunt the artist and his NFT project.
Either way, this all highlights the complexity of the issue here. These things might look great at the time, and might secure vast amounts of coverage, but unless the legal side is buttoned down, there’s always space for it to bite you on the backside.
Should this put people off exploring NFTs? I don’t think so. It’s a valuable lesson, without question, but until we do more to explore these spaces with a clear, pragmatic view, we will never make headway.
In the meantime, artists who own everything around their work - publishing, writing credits, the lot - are well-placed to dive in and make the best of things.
Perhaps that’s the other angle to this: it further underlines perhaps a need to simplify the entire way music is remunerated. Possible? In theory, yes. Likely? Absolutely not. But we can dream.
Have a great weekend,
D.
Read the full newsletter here: https://www.getrevue.co/profile/motiveunknown/issues/are-we-about-to-see-music-nfts-get-their-first-legal-test-around-royalties-1449122?via=twitter-card&client=DesktopWeb&element=issue-card
- So lovely to see a feed that doesn't have a picture of a billionaire egomaniac!
- I wonder if we'll ever get our data from the blue bird place? Anyhow what's up y'all!