Some bonds are timeless.
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NFTs create collectible, tradable digital assets, deepening fan engagement. Exclusive access, experiences, and royalties enhance loyalty. Secondary market activity generates ongoing revenue. NFTs empower fans as stakeholders, transforming passive consumption into participatory investment in music ecosystems.
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Liquid staking derivatives (LSDs) increase capital efficiency but centralize staking power within a few dominant protocols. This raises systemic risk: validator diversity declines, governance capture increases, and Ethereum’s neutrality could be threatened. While LSDs enhance liquidity and composability, unchecked concentration undermines decentralization. Balancing efficiency with resilience is critical. Risk mitigation may require protocol-level safeguards, decentralized validator sets, or social consensus pressure. The concentration paradox of LSDs highlights the tension between adoption and systemic fragility.
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