How a Limited Edition NFT Of Herbie Hancock’s Rockit Could Help Herbie Make More Money
Herbie Hancock released a song called"Rockit” a groundbreaking track in 1983. It's widely celebrated for its innovative fusion of jazz and electronic music, particularly its pioneering use of turntablism and scratching. The song, a part of Hancock's album "Future Shock," marked a significant departure from his earlier jazz work, showcasing his versatility and willingness to experiment with new genres.
The track's distinctive, driving bassline, combined with its rhythmic drum patterns and the use of synthesizers, created a sound that was ahead of its time, influencing the development of hip-hop and dance music. The accompanying music video, featuring robot-like figures and surreal imagery, was also notable for its creative use of animation and special effects, further cementing "Rockit" as a landmark in both music and visual art. This song not only showcased Hancock's genius but also played a crucial role in bringing electronic music to a wider audience.
This year during Herbies tour he’ll perform in 18 different venues around the country.
This post is about how a renown artist like Herbie Hancock could make more money by releasing a limited edition NFT.
What Is a Limited Edition NFT
A limited edition music NFT is a special type of digital asset that combines two exciting trends: NFTs (non-fungible tokens) and the digital music revolution. It's essentially a unique, verifiable certificate of ownership for a piece of music or music-related content stored on a blockchain.
Here is a breakdown of what makes it special:
Collectible: Similar to physical collectibles like rare vinyl records or concert posters, collectible music NFTs are designed to be limited in quantity and potentially increase in value over time. This creates a sense of exclusivity and ownership pride for collectors.
Music: Unlike traditional digital music purchases where you only access, not own, the music, NFTs grant you actual ownership of the file (usually a high-quality version) or related content.
NFT: The magic behind it lies in blockchain technology. By minting an NFT, the music is linked to a unique digital token on the blockchain, like a secure, public registry. This ensures the track's authenticity and guarantees your ownership rights.
Content: What's included in a collectible music NFT can vary. It could include:
Individual Rockit song or album: A fan could own the digital master file and unlock exclusive remixes or unreleased tracks.
Limited edition: Be one of few owners of a rare version of a popular song or album.
Exclusive content: Get access to behind-the-scenes material, unreleased demos, or even video messages from the artist.
Experiences: Gain VIP access to concerts, meet-and-greets, or even co-writing sessions with the artist.
Overall, collectible music NFTs hold exciting possibilities for both fans and musicians. For fans, it's a chance to own a piece of their favorite artist's work, support them directly, and potentially profit from appreciation. For musicians, it's a new way to connect with their audience, generate income, and experiment with innovative forms of distribution.
How I’d Create a Herbie Hancock Rockit Collectible NFT
To create a Herbie Hancock Rokit collectible NFT I would include the following.
- Original Rocket Song and Any collateral materials like pictures, videos,
- Rerecord the original song.
- Interview, Herbie and other musicians about recording sessions
- Video of Herbie performing Rockit live.
- VIP tickets to a Herbie performance
- Perhaps Limited physical vinyl albums
I would have Herbie & the band sign posters (see my signed St Lucia & Air Jamaica Jazz Festival posters) that would be digitized and also included with the limited edition NFT.
WHAT ARE THE POTENTIAL PROFITS?
At every concert I’d make sure that fans gets QR codes that allow them to bid on the 1,000 nft’s and if the average auction Nft sale is $1000 ( Herbie concert tickets cost more in some markets) & Herbie sells 10% he’d earn $100,000.
Herbie would now have a musical product that could be sold as a limited edition nfts collectible.
IF YOUR INTERESTED IN LEARNING MORE JOIN US FOR OUR “FUTURE OF THE MUSIC BUSINESS” WEBINAR, February 13TH at 7pm.
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About Dwight Miller
With a dynamic career spanning the realms of technology and music, I've established myself as a pioneering entrepreneur at the intersection of innovation and creativity.
Beginning in the computer industry, I honed my skills as a computer engineer and educator, notably training engineers at Cape Canaveral and immersing myself in the cutting-edge world of technology. Transitioning to the music industry, I co-founded PKB Arts & Entertainment, producing iconic events such as the St. Lucia Jazz Festival and collaborating with legendary artists including Carlos Santana, Luther Vandross, and Patti Labelle.
Amidst the challenges of the pandemic, I delved into blockchain technology, aiming to revolutionize the music industry by empowering musicians through Web3 technology. My vision is to create a more equitable and sustainable music ecosystem, where artists thrive and technology serves as a catalyst for positive change. As I continue to navigate the ever-evolving landscape of entrepreneurship, I remain committed to driving progress and leaving a lasting impact on both industries.