Kolektibel Gathers Local Musicians Enters NFT, to be Released in March 2022

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

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

In an interview, Kolektibel CEO Pungkas Riandika told that members of Laleilmanino have a passion as a composer who wants to actively create songs. Previously, this passion could not be accommodated optimally when they had a career in their respective music groups.

“In Laleilmanino they don’t perform, but as songwriters. That is, the IP they hold. That spirit fits with the Kolektibel 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 music world continues to innovate. We see that NFT isn’t a momentary trend, but it’s a new era for the future music industry,” he said.

Transactions in the Kolektibel can use Rupiah Currency

As the owner of the IP, Laleilamino will utilize his assets, starting from the documentation of song creation, starting from fragments of lyrics, voice notes, photos, workshops, and others to be used as NFT.

To create the element of rarity, as an important component in the fundamentals of NFT, Laleilmanino will provide exclusive offers to his collectors with various forms of engagement, so that they have the opportunity to receive royalties.

“Laleilmanino wants to form a community because they know that the audience is quite die-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 for his fans through 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 its 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.

Kolektibel 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 Kolektibel’s main domain in the category column. 

Meanwhile, in B2C, domains are provided (eg kolektibel.com/customername) for collectors in the top spender and VIP categories. Every NFT sold, be it in the primary market or in the secondary market, IP owners will still receive revenue sharing at a mutually agreed percentage.

This kind of business model, according to Pungkas, is a series to create the Trifecta Synergy effect, which involves IP, Kolektibels, and collectors.

The objective of Trifecta Synergy is to gain market expansion and strengthen brand loyalty by aiming at the transformation from customer to collector, creating a community-driven business.

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

“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.