Unveiling Web3 Music: Revolutionizing the Music Industry

By Dwight Miller - May 3, 2024

Web3 music uses blockchain technology to change how music is shared and monetized, giving more control to artists and enhancing the connection with fans. The features of blockchain technology are.

 Decentralized Music Distribution: Power to the Artists 

Web3 removes the need for traditional music labels and platforms, enabling artists to reach listeners directly. This change helps artists get paid fairly and quickly, transforming how they earn from their music. Decentralization also means that your music can be available worldwide and your ownership can be easily verified.

 Tokenization: Creating New Opportunities 

A token is like your car registration. Your car registration has the description of your car and the VIN (Vehicle Id Number). The VIN on your car is created by the manufacturer of the car and is permanently stamped on the driver side dashboard of your car.

A Web3 musician can create digital tokens that fans can buy on digital platforms like Opensea.io and Rarible.com. These tokens often give fans special perks like exclusive content or entry to events, helping a musician create a unique community around their work.

When fans could easily create MP3’s there was no way to identify the ownership of that digital file. (This happened not only to digital music files but digital photographs and videos as well, so musicians, photographers and videographers had the exact same problem.) Fans could easily steal the creator’s work meant that musicians no longer had physical products (albums, singles etc.) to sell.

Just like the VIN identifies your car, the blockchain creates a VIN like number that is stamped to your digital file permanently and can't be changed. That number identifies your ownership of the music (or video or photograph) on the blockchain making it impossible for your music to be used in a way you didn’t define.

Web3 is creating exciting new possibilities in the music industry by enabling artists to have more control and directly engage with their audience. This is significantly changing the music landscape.