The NFT Handbook

Foreword

Great artists focus on one thing: their creations. Musicians spend months searching for perfect harmony or lyrics, architects belabor the most minute details on their building plans, and painters search for the ideal place for their last stroke.

But once they finish their masterpieces, successful artists must also figure out how to monetize them while likewise protecting their provenance and future value.

That’s where the intermediary comes in. Content creators of all kinds, including musicians, podcasters, painters, writers, performers, directors, and composers, are typically forced to use an intermediary to share their creations with the world. Whether it’s the art gallery, the music label, or the concert promoter, these functionaries all promise artists the ability to monetize their work in exchange for a healthy cut of the profits—and sometimes even ownership of the artist’s work.

Although not all intermediaries are bad; some have made headlines in recent years for the underhanded deals they’ve struck with their clients. Taylor Swift has spoken out about the unfair contract she signed as a teenager and how her music was sold multiple times without her knowledge or consent. Musicians like Prince and Michael Jackson were known for feuding with their record labels, too.

In recent years, technology platforms like Spotify have offered some hope of disintermediation. However, as the platforms evolved, artists have learned that their economics have been reduced—not enhanced. ...