With the rising cost of GAS and the cost of minting your artwork using ETH, one can’t help but draw similarities with the entry costs involved in releasing music.
Artists have struggled for centuries now with the cost of effectively getting their music out to a large audience; with the advent of the internet and the more recent rise of NFTs it looked liked independent musicians might be in for a windfall. But what about the GAS?
As we all know the rising in ETH has caused a surge in the cost of GAS the “fuel” used to drive the minting of artworks on the ETH blockchain.
This makes it harder for artists to provide value and returns on their minting in a time where only the biggest artists can currently afford to offer really tempting NFT packages.
This holds striking similarities to the way the music industry was formed to price out small artists and to empower those who were under the control of paymasters who took large portions of the return for their privileged position lending.
This leads me to the title of this post; my prediction that ETH Record Labels will be popping up anytime now and paying your minting fees while you do the hard work of creating an audience for yourself.
I hope you play it smart and pay the GAS. ⛽️
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Kush.