In an ever-changing world, the DeFi and crypto space gives a good platform for artists and creators to take more control of their work and get paid directly for their creations. CEO Dan Schatt explains that the Earnity platform is a social-first community that thrives with the participation of its users. Doing away with the perceived complications of crypto, Earnity gives people a chance to collect, buy, and sell crypto easily. Even for those who consider themselves novices, the platform helps them understand how decentralized finance works. Here are some of the benefits of DeFi for artists:
1. Increased access to capital
DeFi protocols allow artists to raise capital for their projects by selling products such as non-fungible tokens (NFTs). This gives creatives more options to finance their work without giving up equity or debt. This will also allow their patrons to support and access their work directly. With DeFi, all transactions are transparent and recorded on a public blockchain. This ensures that artists are fairly compensated for their work and that buyers know what they are paying for.
2. Greater control over their work
With DeFi, artists can choose how their work is distributed and sold. They can also set up smart contracts that ensure they get paid promptly and automatically for their creations. This gives them more control and flexibility, and peace of mind over their work. Dan Schatt, who has been in the fintech industry for many years, envisions Earnity to become the most convenient marketplace to buy, sell, earn, and learn about virtual currency in a straightforward way.
3. More opportunities to monetize their work
DeFi protocols open new ways for artists to monetize their work beyond traditional methods such as selling artworks or licensing their work for other purposes such as advertising or film. For example, creators and artists can now quickly earn royalties from NFTs or sell digital collectibles. This gives them more ways to generate income from their creativity. With DeFi protocols, creators can reach a global audience and sell their work to more people. This gives them a larger potential market for their creations.
