Rare record investing idea

[Michael Bailey]

Currently on Discogs "Do You Love Me" by Senator Jones is selling for about $6K U.S. Although I suppose I could afford that, I'd rather stay married. The record has been on Discogs for more than a week, so I suspect others feel similarly.

I had this idea: If, say, six of us split the cost as an investment, this would be much more affordable. We could sell audio copies of the records as NFTs (see: https://en.wikipedia.org/wiki/Non-fungible_token) to DJs, who could also claim to own a copy of the record. And if at some point we all decide to sell the record (hopefully for a profit), we can.

We'll keep the record at my house.

[Jnixon]

genius. 

[Amsterdam Russ]

1/ You don't own the publishing rights or copyrights.

2/ There's more than one copy of the 45 (NFTs typically work best when the item is unique). 

3/ Audio files of the track can be easily had - YouTube and Spotify, for example, and files can be easily copied/shared - thus making the money-making part of the scheme a non-starter.

Next... 

[Michael Bailey]

Jnixon, I'll count you in. Amsterdam Russ, I'll count you in for only half a share.

[laparis]

Funny idea!!!Like Jnixon said: Genious!

Question to you: what are the others who split the costs with you winning with this if YOU gonna keep the copy??Do not follow!

[Pat]

I like your style Mr. Bailey, but I don't fancy your chances!!!   Alan C

 

[Michael Bailey]

14 hours ago, laparis said:

They are equal co-owners!