NFTs are rapidly becoming the buzzword of today’s music scene. As exciting as that sounds, most currently-available tokens are little more than electronic concert tickets, music video clips, or other forms of digitized memorabilia. Despite being linked to the blockchain, none of this merch is particularly innovative.
“NFTs are not the end of the road,” explains Jeff Freiberger, founder of MediaCoin and creator of the MusicCryptoGeeks (MCG) NFT collection. “In their simplest form, NFTs are just purchasable assets housing utilities and tangibles. When NFTs are integrated into the Metaverse, they can be used for much, much more.”
MusicCryptoGeeks NFT collection opens a new world for musicians, producers, and fans
The MCG NFT collection is live on OpenSea. New token holders are gaining some standard perks, such as products and celebrity event tickets, but they’re also exploring some unique utilities, including company ownership and a sprawling virtual community.
Through customizable avatars, token holders enter a newly-launched area in the Metaverse reminiscent of New York City built with a groundbreaking technology called “Unreal Engine 5”. The creative energy in this musical metropolis is palpable. Community members gain exclusive access to the MCG outdoor amphitheater, executive producer hall, recording studio, and a host of other lounges and shops. It is the artistic space in the Metaverse where musicians, producers, and industry experts converge to network, brainstorm, market their music, jam, and simply hang out. Community members will even be able to order takeout through Doordash paid with Crypto as an NFT.
Freiberger and his team are currently building this city for musicians alongside the world’s top experts in digital design. MediaCoin has already minted a token that new members can exchange for currency to rent private jets, buy exotic cars, enroll in college classes, and shop the stores. “The city is constantly growing as we continue to build this in Unreal Engine 5. We will change how you view AI Virtual Reality and its potential,” says Freiberger. “You’ll hear more as we release updates over the next few months. I assure you we are doing something no one has done before.”
MusicCryptoGeeks opens the music industry to aspiring producers
If that Metaverse meetup has readers dreaming of what their avatar would do in the music space, they are in luck. This NFT collection comes with a chance to influence the real-world music scene, too. Each executive producer NFT provides holders with a private placement memorandum, explaining the ins and outs of joining the MCG team. Token holders can make their positions official when MediaCoin LLC, MCG’s Parent Company, goes public.
MCG executive producers are making their mark on the music sector during a pivotal moment. Some members are new to the industry, but others are more well-known. Current celebrity owners of MCG executive producer spots include Justin Bieber, Paris Hilton, and Lil Baby. “Our community members will impact decisions for MCG’s record label from the ground up,” says Freiberger. “All of our board members have the opportunity to participate at any level. They will help us grow this project and influence the future of music.”
While being an MCG executive producer comes with responsibilities, the job description certainly doesn’t seem to involve all work and no play. “We are currently sending board members to represent us on a yacht in Miami with Dave East,” says Freiberger. “We are also sending representatives to music videos being shot this weekend with an up-and-coming group called Bad Habit featuring Lil Boosie. Updates on these events and future celebrity opportunities for MCG token holders can be found on our website.”
MusicCryptoGeeks NFT collection is shaping a new financial future for musicians
Freiberger is no stranger to the music scene. Over the years, he has partnered with a wide-ranging group of artists, including DJ Khaled, Lil Wayne, 2 Chainz, Akon, and Migos. “During my fifteen years in the music space, I’ve seen the same things over and over,” he remarks. “Musicians are consistently underpaid, and producers lack adequate funds to do music videos and promotional events the way they should be done. MusicCryptoGeeks is set to change all of that.”
According to Freiberger, today’s artists make around thirty-three cents each time fans stream their songs. After musicians pay others who helped with the project, they are not left with much to show for their work.
Through NFTs, Freiberger creates direct payment for each song and album copy. “Artists who stream 303,030 songs can hope to make $1000, but if I help them sell 303,030 NFTs of their song or video at one dollar each, it nets roughly $300,000,” says Freiberger. “How artists split that net take is completely up to them. And that’s just the streaming aspect of NFT marketing. I can go on and on about Metaverse meet-and-greets and virtual concerts. Our musicians obtain instant access to our Metaverse, make a lot more money, and control how they want their projects to be done through our Smart Contracts. Once launched, these contracts cannot be changed.”
MCG is poised to disrupt the music scene for producers, musicians, and fans. Freiberger has been involved with digital assets for seven years, but only recently has the blockchain evolved to the point where it can accommodate his vision.
“It’s hard to believe how perfectly all the stars had to align for the utility of today’s MCG NFT collection to become a reality,” he marvels. “In just a few years, we’ve gone from the mass buy-in of cryptocurrencies to crypto exchanges. We’ve moved from NFT creation to NFT exchanges. Now, we’re applying NFTs to Metaverse platforms. MusicCryptoGeeks can do what it’s doing today because the world is joining the vision.”