Technology at the service of fans of musical artists
It’s digital, but not for everyone!
The use of technologies to make digital elements unique and traceable is best known and widespread among cryptocurrencies, but numerous other applications are emerging. Now, group and musical artists’ fans are getting closer and closer to having an experience that seems like a thing of the past: owning rare items produced by their idols.
The era of streaming music practically annihilated the possibility of artists thinking about the production of songs, albums, photos, and posters with a limited number of units. Decades ago, this kind of material was disputed and collected by fans.
The group K-pop BTS has taken the first significant initiative to bring this type of experience to the present day. Dunamu , the South Korean superstar management agency’s technology and the holding company is launching a digital collectibles platform through DLT technology.
“Resuming past experiences with the use of new technologies is a fascinating idea. Generally, disruptive innovations bring something unprecedented; however, good experiences that seemed lost can be reformulated to meet feelings and desires that we will always have, ”says Arie Halpern , a specialist in disruptive technologies.
An experiment for “light it up like dynamite”
The BTS plans to broaden the rapprochement with the most dedicated fans too, as the lyrics to success say Dynamite , “to light it up like dynamite”.
Distributed Ledger Technology (DLT) has been used to build a platform that provides users with rare digital collectible materials from their favorite stars, safely, and easy to use. In the future, users will be able to customize collectibles to their liking and even market them.
That is, there will be exclusivity about unprecedented moments of celebrities, whose content will be made available through a single offer, allowing access to an original package that includes the voice and autograph of the artist.
The authenticity of the material is attested by distributed ledger technology (DLT), which consists of a database with information copied, shared, and synchronized, geographically spread over several points in an ecosystem or network: the systems have a synchronized database that provides a verifiable and auditable history of information that can be accessed by anyone who integrates this network.
Does this remind you of blockchain? Of course! But despite the conceptual similarity, DLT has some particularities.
A major difference between a DLT and a blockchain is the degree of decentralization of the respective networks. Blockchains are public and open source, meaning anyone can connect to the network. Blockchains use a consensus algorithm – Proof-of-Work, Proof-of-Stake.
A DLT generally does not enable most of these features for the general public, limiting who can use and access them. In addition, governance decisions are left to a single company (centralized body) or a set of them.
It’s not just with music
The era of digital collectibles has also begun for the production of arts and visual pieces. Non-fungible Tokens (NFTs) came on the scene in 2021 and continue to expand. This new technology is connecting buyers and digital artists who, if they want, can dispense with intermediaries, such as an art gallery. However, the NFT gallery market is evolving. In Brazil, platform Tropix was launched just over a year ago.
On another front, NFT art galleries are investing in the sports collectibles segment. Infinite Objects partners with the United States Basketball League (NBA ) to provide collectible photos and videos to the customer’s liking: you can select which moment in a given match you would like to have in a digital frame. A particularity, on the back of the piece there is a QR code for reading the NFT that attests to the authenticity and exclusivity of the images.
Would you pay $129 or more for that?
