Sterling Proffer

2. Fractionalize ownership with royalty-bearing NFTs: “Fractional ownership” is one of the more widely discussed use cases around NFTs. Here, a fraction of a song is sold as an NFT, with the owner then being entitled to the equivalent portion of royalties generated from the commercial exploitation of the song.

Great art, even good art, relies on the existence of individuals who are able to devote the lion’s share of their energy to producing it—in other words, professionals.

Nobody deserves support, public or otherwise, for making something no one wants. Artists, in that respect, are not any different from people who open restaurants or shops, many of which also fail. Being an artist is not a job. In economic terms, it is a business.

5. Create an experience unlocked by NFTs: These experiences can be either digital or physical. Access to a private Discord or to gated content on a website is a simple kind of experience, but there’s a much wider range of possibilities.

Some users have already burned out, which raises the question of how many people with a coveted pro deal will find Substack’s grind unsustainable once they exhaust their advances. At the same time, many other writers simply won’t be able to make a living on Substack no matter how hard they try. But nevertheless, Substack’s growing cast of... See more