WEB3 Terms Every Musician Should Know
Terms Every WEB3 Musician Must Know
1. Music Tokenization: The process of fractionalizing music assets into digital tokens, allowing them to be freely traded on blockchain networks.
2. Smart Contracts: Automated digital contracts used in the blockchain that are self-executing, meaning they can automatically enforce the obligations of both parties without the need for external enforcement.
3. Digital Royalties: Payments made to songwriters, producers and performers for the use or sale of their music.
4. Non-Fungible Tokens (NFTs): Digital assets or representations of ownership verified by the blockchain that cannot be exchanged or replaced.
5. DApps: Short for Decentralized Applications, these are open-source applications built on a blockchain that are not owned or controlled by any single entity.
6. Digital Rights Management (DRM): A set of technologies and protocols used to ensure copyright holders maintain control over digital content and its distribution.
7. Utility Token: A token designed to be used within an application or platform, rather than being exchanged as a form of financial investment.
About Dwight Miller
With a dynamic career spanning the realms of technology and music, I've established myself as a pioneering entrepreneur at the intersection of innovation and creativity.
Beginning in the computer industry, I honed my skills as a computer engineer and educator, notably training engineers at Cape Canaveral and immersing myself in the cutting-edge world of technology. Transitioning to the music industry, I co-founded PKB Arts & Entertainment, producing iconic events such as the St. Lucia Jazz Festival and collaborating with legendary artists including Carlos Santana, Luther Vandross, and Patti Labelle.
Amidst the challenges of the pandemic, I delved into blockchain technology, aiming to revolutionize the music industry by empowering musicians through Web3 technology. My vision is to create a more equitable and sustainable music ecosystem, where artists thrive and technology serves as a catalyst for positive change. As I continue to navigate the ever-evolving landscape of entrepreneurship, I remain committed to driving progress and leaving a lasting impact on both industries.