Tokenisation of people is coming
If you are an musician/creative/athlete why wouldn’t you?
If you are a smaller up and coming artist, the reward is more security now by realising some of your future worth today. Obviously your future earnings might be higher/lower than what you sell the token for, but that is the risk. You forego some portion of future earning for upfront capital now, in many ways it is a hedge against not becoming a household name. No matter how much you believe in yourself, that’s just smart economics.
If you are a larger artist, it becomes a way for you to sell some of your past success while establishing a new economic model to drive financial growth.
Coin holders become a core group of supporters, who are rewarded with the % of profits they own, but also early release information, guaranteed tickets to concerts and things only for them. That provides significant benefit to owners over what is currently available. Not only would that attract speculative investors, but it would attract fans who love specific artists. The potential this breeds is a highly liquid market, where the value has the opportunity to fluctuate. At this point, an artist could decide to sell more tokens, realising future profits now, or buy tokens back if they think their profits will be higher than what the market has deemed.
Tokenisation becomes a sort of fan club where you are able to accrue significant data on each fan, but where they are allowed to benefit from their support — that is transformational. Fandom evolves from a one sided transaction to one of mutual and collective benefit.
Fans are not only supportive through the purchasing of tickets for concerts, music etc. they literally become invested partners in your success. Think about that for a second. Instead of only costing you money, fans can profit. This provides a route to artists offering rewards in exchange for money. Where the price of tokens rise significantly, fans could exchange them for tickets at concerts at a discount. The fans get a ticket they would have bought anyway, in exchange for tokens which effectively act as a share buy back scheme for artists.
This might become a model for revenue over and above what they are able to earn on streaming sites. There is significant blowback directed at Spotify and Apple music right now. Artists believe they are not receiving a large enough piece of the pie while these platform plead poverty. Their is a fundamental misalignment between producers and music companies and artists who see the evolving relationship between the two slowly becoming more one sided where the value the artists receive is diminishing with the rise of digital.
There is no right answer to that, only tokenisation provides a massively intriguing marketing and financial model for artists to benefit.
Expansion to Altenative industries
Why only use this model for Musicians? What else could this be transferable to? Athletes definitely, Actors certainly, everybody? Potentially.
Student debt is a massive and growing problem. it’s bordering on epidemic proportions with a high possibility of it ruining a whole generations financial future. What if you could tokenise a portion of your future earning and go to school without incurring any debt?
Obviously there would have to be certain controls to avoid exploitation, but it’s a massively intriguing proposition.
Maybe it evolve so that you sell a certain number of hours each year. This would be a way for companies like Google to hire employees at a vastly reduced cost and figure out whether they are people they would like to employ long term, or maybe it evolves so that your coin holders earn a certain proportion of your earnings for a pre-determined number of years after graduation. These investors earn profits above what could have been earned in a traditional saving account, and the student escape the worry of living with crippling debt for the rest of their lives.