By Dwight Miller - June 11, 2024
For web3 musicians, developing a solid strategy involves leveraging blockchain technology and decentralized platforms to enhance their music careers. Here is a comprehensive strategy:1.   Understanding Web3 Concepts: Educate yourself and other musicians about Web3 concepts like blockchain, NFTs (Non-Fungible Tokens), DAOs (Decentralized Autonomous Organizations), smart contracts, and decentralized finance (DeFi).2.   Tokenization of Music: Tokenize music assets through NFTs, enabling artists to retain ownership rights, track royalties transparently, and create unique experiences for fans.3.   Creating NFT Collections: Curate NFT collections of exclusive music content, such as unreleased tracks, concert recordings, and digital merchandise, to offer fans unique ownership experiences and ...
By Dwight Miller - June 4, 2024
Songwriters have a unique opportunity to revolutionize their revenue streams through Non-Fungible Tokens (NFTs) in the web3 era. NFTs allow creators to tokenize their work on blockchain platforms, providing unique digital ownership and monetization opportunities. Here's how songwriters can leverage NFTs:1.   Tokenizing Songs: Songwriters can tokenize their songs as NFTs, representing ownership or rights to the music. Each NFT can be uniquely identified on the blockchain, allowing fans to purchase and own exclusive copies of the song.2.   Royalties and Smart Contracts: Smart contracts embedded within NFTs enable automatic royalty payments to songwriters whenever the token is sold or ...
By Dwight Miller - May 30, 2024
Since the introduction of the music industry, labels, managers, performing rights organizations and others have earned the bulk of music profits. Most musicians have been screwed over for example, a label may take up to 80% of the revenue generated, leaving the remaining 20% royalties to be split between the artist and any co-writers or producers.Web3 Music completely disrupts that narrative. Web3 musicians can keep as much as 80% of their profits by using the easy-to-use web3 music technologies.Reasons Labels Hate Web3 Music1.   Disruption of Traditional Business Models: Web3 music promotes a decentralized model of music distribution and monetization, ...
By Dwight Miller - May 28, 2024
Web3 music is shaking the foundations of the traditional music industry. As artists and fans alike increasingly adopt blockchain technology, the music landscape is undergoing a significant transformation. Here are the main reasons why Web3 music is causing unease within the industry:    1.   Decentralization Threatens Traditional Gatekeepers In the conventional music industry, major record labels, distributors, and streaming platforms function as gatekeepers, controlling who gets heard and how revenue is distributed. Web3 music, with its decentralized nature, eliminates these intermediaries. Artists can now directly reach their audience and receive payments without the need for a middleman, leading to a ...
By Dwight Miller - May 21, 2024
A Web3 musician is a trailblazing artist who uses blockchain technology to transform the music industry. By releasing music as non-fungible tokens (NFTs), these innovators can sell unique digital tracks and experiences directly to fans, bypassing traditional intermediaries. This not only ensures fairer earnings but also enhances royalties.Web3 technologies also enable musicians to cultivate vibrant communities where fans can engage more deeply, influencing creative decisions and accessing exclusive content. This direct connection fosters a sense of ownership and loyalty among fans, redefining artist-audience relationships.In short, a Web3 musician isn't just a creator but a pioneer, leveraging blockchain to make music ...
By Dwight Miller - May 21, 2024
In the ever-evolving landscape of the music industry, it is crucial for musicians to have a rm grasp on their music rights. With the emergence of blockchain-based music publishing and distribution platforms, this understanding becomes even more vital. By comprehending the intricacies of music rights, musicians can harness the power of blockchain technology to protect their intellectual property, ensure fair compensation, and navigate the complex world of music licensing.Copyright lies at the heart of music rights. As a musician, you automatically hold the copyright to your original compositions, granting you exclusive rights to reproduce, distribute, and perform your work. However, ...
By Dwight Miller - May 14, 2024
Web3 music represents a revolutionary step forward in how music is created, shared, and monetized, leveraging the power of blockchain technology to empower artists and fans alike. Here's a breakdown of the basics to get you started in this exciting new landscape:    1.   Decentralization At its core, Web3 is about moving away from centralized systems. In the music industry, this means reducing reliance on traditional record labels, streaming services, and other intermediaries. Artists can connect directly with their audience, maintaining control over their work and its distribution.    2.   Blockchain and Smart Contracts Blockchain is the foundational technology behind ...
By Dwight Miller - May 14, 2024
Finding a music NFT on the blockchain involves searching on platforms that host and sell NFTs, such as specialized marketplaces or blockchain networks. Here is how you can do it:1.   Browse NFT Marketplaces: Look for NFT marketplaces that specialize in music or offer a section dedicated to music NFTs. Platforms like OpenSea, Rarible, or Foundation may have music related NFTs listed.2.   Use Search Filters: Many NFT marketplaces allow you to filter search results based on categories or tags. Use keywords like "music" or "music NFT" to narrow down your search to music-related items.3.   Explore Artist Profiles: Artists ...
By Dwight Miller - May 9, 2024
In my last post, I explained how a music Nft was different from a crypto Nft. A music Nft is a non-fungible token but the NFT’s role in music is to mint the NFT on the blockchain.By minting your music on the blockchain, you ensure that you are the owner/creator of the music, and your ownership can be easily identified on the blockchain. You can create a direct relationship with fans and maintain control over how your music is licensed and used.Currently every musician has only three (3) products to sell, Streaming (which pays so little Snoop and Taylor Swift ...
By Dwight Miller - May 9, 2024
A music NFT (Non-Fungible Token) and a crypto NFT are not the same. A music NFT represents a digital music file with related materials like photo’s videos, tickets to events included in the file. The files are then assigned a number (hash) that identifies the music file and all of its components.  A music NFT specifically represents ownership or rights to a piece of music or related content. It could be a digital file of a song, an album, a concert recording, or even the rights to royalties generated by the music. Music NFTs allow artists to tokenize their work, ...