Sterling Proffer

4. Capture meaningful cultural moments: NFTs are not valuable because of “utility” or vague notions of community. The real value of NFTs comes from the “meaning” they represent as the cultural artifacts of communities.

Let’s cut to the chase. If this TikTok-ification of the music biz continues, what will be the end result? Here it is, in a single sentence: Only unsuccessful musicians still need a label. Think over the deep implications of that fact.

The first TikTok stars were slow to realize how much negotiating power they actually possessed—they’re just youngsters, after all. So they got dazzled by the promise of a big upfront payment from a label. But in the last few months, many have started to figure out that the so-called ‘advance against future royalties’ is actually just a loan under a... See more

Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius — and a lot of courage — to move in the opposite direction.

Some commenters scoffed at the sight of celebrities carping about the work of being famous. But these artists have hardly been lazy or reluctant to play the music business’s games. Each of them is known for elaborate music videos, spectacular stage productions, and otherworldly fashion. They’ve hustled, for all of their careers, to seem larger than... See more