Collective Gathers Local Musicians Join NFT, Will Release March 2022

Platform marketplace NFT Kolektibel announced the next creator, this time from the music industry, who was partnered with NFT, named Laleilmanino. Currently waitlist has been opened and is scheduled to launch in March 2022.

Laleilmanino is a trio of record producers consisting of Nino RAN, as well as Maliq & D'Essentials guitarist and keyboardist, Lale and Ilman. At the beginning of appearance Kolektibel with its first partner, managed to sell more than 525 NFTs made with the Indonesian Basketball League (IBL).

In a joint interview DailySocial.id, Collective CEO Pungkas Riandika said that members of Laleilmanino have passion as a songwriter (composer) who want to actively work on creating songs. Previously, passion these have not been accommodated to the maximum when they have a career in their respective music groups.

“At Laleilmanino they don't perform, but as a songwriter. That is, the IP they hold. That spirit fits with the collective and finally agreed to work together," said Pungkas.

In an official statement, Nino RAN expressed his enthusiasm for this collaboration. He believes that NFT is the most advanced form of development in the entertainment industry today. “We realize that the world of music continues to innovate. We see NFT is not a momentary trend, but new era for industry future music," he said.

As the owner of the IP, Laleilamino will utilize his assets, starting from the documentation of song creation, starting from snippets of lyrics, voice notes, Photo, workshop, and others to serve as NFT. To create elements rarity (rarity), as important component at NFT fundamentals, Laleilmanino will give its collectors exclusive offers in various forms engagement, until the opportunity to get royalties.

“This Laleilmanino wants to form a community because they know they have enough listeners that hard [to his works]. For that, they want to be closer to their community by providing exclusive offers,” added Pungkas.

Currently, Laleilmanino has opened a waiting list (waitlist) for his fans via this page. The plan will be released in the next two months, around March 2022.

Slightly different from other NFT marketplaces in Indonesia, Kolektibel does not use cryptocurrencies as an NFT payment method. To buy, people can use fiat or the currency that is valid in Indonesia, namely Rupiah in various popular digital payment instruments, such as GoPay, OVO, and Virtual Accounts.

Collectible business model

For the record, Kolektibel implements two business model schemes in running its partnership with IP brand owners, namely B2B and B2C. For B2B, Kolektibel provides a special domain for brands to accommodate NFT buying and selling transactions and Collectible's main domain in the category column. Meanwhile, for B2C, a domain (example: kolektibel.com/customername) is provided for collectors with categories top spender and VIPs.

Every NFT sold, be it in primary market or at secondary market, IP owners will still receive revenue sharing with a mutually agreed percentage.

A business model like this, according to Pungkas, is a series to create an effect Trifecta Synergy, involving IP, Collectable, and collector. The purpose of Trifecta Synergy The goal is to gain market expansion and strengthen brand loyalty by aiming at the transformation from customer to collector, creating a community driven business (community driven business).

After the music industry, one of the next IPs that Collectible will partner with comes from a local television station. Digital artwork, which is one of the most widely NFT-published works in the global market, has not yet become the next target of the Collectible.

“We're not going to rush into [the artwork]. We are unique from the others [NFT marketplace] because we can buy it using Rupiah and every NFT always has its utility,” he concluded.