0xBAfb
May 11th, 2022

For context, almost two months ago, we announced that Amanda Frances’ release would be on a bonding curve.  Amanda did an even better job announcing this with her post and video - WTF Are Bonding Curves? 

We named our (bonding curve) dynamic pricing mechanism Crescendo and published the release announcement below, explaining how bonding curves work and why we want to use them.  If you haven’t already, we recommend skimming through to get acquainted with Decent’s Crescendo:

0xBAfb
April 19th, 2022

Staking Music NFTs to Optimize the Post-Mint Relationship

How can an independent artist build a vibrant career? Past iterations of this problem statement have considered this a one-sided question of patronage or exchange: what might an artist offer their audience for maximum profits?

At Decent, we view artist monetization as a question of incentive alignment: how might an artist and their fans share in value jointly created? To answer this question, we need to move beyond patronage.

The primary financial metric for success in music NFTs should not be how much an artist can charge their fans at mint. Rather, it should be how much the fans can generate for and with the artist post mint. This novel goal requires a novel design. 

0xBAfb
March 16th, 2022

TL;DR: Crescendo enables fan powered price discovery, instant & guaranteed liquidity, and an initial implementation of synthetic royalties.

The way that music NFTs have been priced and monetized to date is unsustainable. The most popular pricing mechanism has been NFTs in the form of editions (our first releases on Decent have been priced this way, too).

With this model, a combination of arbitrary scarcity and community has driven significant hype around releases and has often led to quick sell outs. A surprising externality is that the primary metric of success has become whether editions sell out immediately.

We believe that the value of art should not be judged on a single moment.  Fan bases, songs, and artists grow and develop over time.  Therefore, NFT releases should be dynamic, enabling prices to reflect the strength of an artist’s community without restricting its size.