First time posting, by the way. Here's an idea I've been batting around over on reddit, and I'd like get some expert opinions on it:http://www.reddit.com/r/Bitcoin/comments/hf8cj/can_virtual_goods_be_packaged_into_bitcoins_or_do/
If bitcoins are gaining in value, how do we get things like music or video game art assets to appreciate too?
Would we need a new network of ArtCoins to do this? Or would we just clone something like the GLBSE and trade art instead of assets?
Here's how I'm hoping this would work:
A band like Radiohead could "release" their next song by posting it as the genesis block on the market (for a price that they choose). This "original" print can then be transferred from one owner to the next just as bitcoins are (or any original work of art). The only difference would be that the person who buys it would be able to spawn subsequent generations of the song: ideally, the protocol should insure that exactly two copies exist for the second print, while the third print has four copies, etc. This way the buyer of the original work can sell two second prints for half the price of his original, while he keeps his original to sell later at a higher price. The number of "legit" copies expands geometrically at lower and lower prices until it is basically free (we might call this the torrenting limit). If someone wants to buy a copy, they can choose the price they think it is worth. Fans will want to buy earlier generations, while others can buy later generations for a reduced price.
*There is a monetary incentive to buy early, because the costs can be immediately recouped by spawning and reselling.
*The author's PGP keys would have to be included in the genesis block to verify that the chain started from them.
*The author controls the price of the original work, but they also control the supply. They may want to sell 100 originals for 100 BTC each. However, whether they release more originals is a business decision, since they don't want them to depreciate.
*Video games could be built off of a network of art assets. This might reduce the redundancy of common assets, such as furniture, across different developers.
So, do you think authors/musicians/artists would adopt this?