THE WRONG MAN will be first NFT musical

Hit?

I loved the concept album, but the stage version did not get a lot of love from the critics or most of the people on this board. I really hope the release of the NFT doesn't mean the soundtrack is going to be taken down (other pieces of media have done that when released as an NFT).

Sorry but when I think of cryto and NFT all I think of his the ecological impact for this "cool new thing"

"Individual pieces of crypto art, non-fungible tokens (NFTs), are at least partially responsible for the millions of tons of planet-heating carbon dioxide emissions generated by the cryptocurrencies used to buy and sell them. Some artists — including those who have already benefited from the craze — think it’s a problem that can be easily solved. Others think the proposed solutions are a pipe dream..."

THE VERGE: THE CLIMATE CONTROVERSY SWIRLING AROUND NFTS

Alex Kulak2 said: "dramamama611 said: "Ok...I'm old..2-3 years from retirement old. What the heck does this actually mean? NFT? Please explain like I'm a 3 year old."

Here's a good explanation of it I saw on Twitter:



Let's say you're in the Lourve, looking at the Mona Lisa, and you want to buy it. Someone comes up and says "If you give me 35 million dollars, I'll burn down a not-unsubstantial portion of the rainforest and sell you ownership of the Mona Lisa".

So you give the guy the money, and he goes down the hall to the supply closet, and puts a Post-It note that reads "Dramamama owns the Mona Lisa" behind the mops. He then says, "Okay, you can't take the Mona Lisa home, but anyone who looks behind the mops in this specific supply closet will see that you own it. As your receipt, have this 2 dollar print of the Mona Lisa from the gift shop".

If it sounds stupid, it's because it is."

Maybe its just me but I still don't understand it.

dramamama611 said: "Not you alone. While I appreciated the analogy, I still don't get it, either."

From what I understand, it seems to be a downloadable resource which you can only access or use in a certain way. I'm not sure about how theatre can be made compatible with this, but I can see why a relatively new musical seeking to prove itself will take advantage of a contemporary craze. But as NFTs are a movement where we barely understand the good (money buys something unique... I guess) and know way too much about the bad (The horrifically wasteful amounts of energy used for them), interest from casual audiences will probably fade quickly. In an artform like theatre where an element of timelessness is key, selling yourself on NFTs can feel like a way of becoming ludicrously dated...

“The Wrong Man continues to open doors and present unique opportunities to shine a light both on the music and the subject of wrongful convictions,” said Golan. “I couldn’t be prouder to be a part of this historic moment with Terra Virtua and I’m honored to be a part of a community whose interests lie in the greater good.” The move highlights a new revenue stream for musicians, giving them the ability to sell directly to their audiences, and giving fans the chance to own a piece of their favorite artist’s work. The Wrong Man started life as a folk song about a man wrongly convicted of a murder he didn’t commit. Over the years, Golan turned that one song into a concept album of songs, that told the tale of protagonist Duran, who has a one-night stand with a woman he meets at a bar, then is framed for murder by her jealous ex-husband.

I miss pet rocks!

DooWahDiddy said: "dramamama611 said: "Not you alone. While I appreciated the analogy, I still don't get it, either."

It's like when you pay money to "own" a star, or have it named after you or someone you know. There's no way of knowing if the company has "sold" the star to someone else, and there's no way to truly benefit from "owning" it, other than bragging rights."

This is a better explanation than I gave, but technically NFT companies have a way to prove that they didn't "sell the star" to anyone else.

Say you buy the Wrong Man cast recording off of iTunes, copy the audio files, and give the files out to your friends. The data between the two digital files is identical, so there's no way of knowing that the version you're listening to is the song from iTunes, or a copy of a copy of a copy.

NFTs use blockchain technology (the tech behind cryptocurrency) to keep a digital ledger of transactions on the file, which essentially proves that you have the real deal. This is something specific to art that's produced on the internet. You can tell the difference between the Mona Lisa and a 2-dollar print from the gift shop, but you can't do that with a digital image or audio file. The blockchain is the receipt that says "this is the original file, everyone else just has a copy".

No one would really care, except for the fact that the computers that make blockchains use an astounding amount of electricity, and more and more is needed as the blockchain gets longer and longer.