Physical and Digital Music | Music | LinkedIn Top Voice | Serenade | Founder at SpinBard
I’ve said it before and I’ll say it again, the music industry is perfectly poised for web3. It’s a matter of how long it takes to go mainstream. However, there are still several challenges preventing this from happening: 👉 Lack of Awareness: Many artists and industry professionals are still wary or unaware of what web3 and blockchain technology can offer. 👉 Technical Barriers: The complexity of blockchain technology can be daunting for non-technical users. Until it becomes user-friendly or seamlessly in the background, this is a sticking point. 👉 Regulatory Uncertainty: Unclear regulations surrounding digital assets and blockchain can create hesitation. 👉 Infrastructure Development: The current antiquated and separated systems in the music industry will cause huge problems in uptake and development of web3 tech - taking years. Traditional revenue models are deeply entrenched, making the shift to new economic paradigms difficult. Despite these obstacles, the music industry needs to embrace web3. Here’s why: 👉 Artist Empowerment: Web3 can provide artists with more control over their work, ensuring fairer compensation and ownership. 👉 Transparent Royalties: Blockchain technology enables transparent and instant royalty payments, reducing disputes and delays. 👉 New Revenue Streams: NFTs and tokenization can create innovative revenue streams beyond traditional sales and streaming. Especially in the physical and digital space. 👉 Cultural Preservation: By leveraging decentralized storage, the preservation and access to music can be enhanced, safeguarding cultural heritage. Especially for digital music. The potential is immense, and while the journey to mainstream adoption may be long and complex, the destination promises a transformative impact. Let’s continue to push for innovation and embrace the future of music tech with web3. 🎶 #Web3 #Blockchain #MusicIndustry #Innovation #FutureOfMusic
You know, I've really enjoyed reading your views and opinions on the importance of Web3 Jamie. Prior to this year, I was losing hope and belief that there were people in the industry who were actively building resources for musicians to genuinely thrive moving forward. After coming across your profile, it led me down the rabbit hole of people developing web3 and I appreciate the level of education you are providing here on LinkedIn. The biggest takeaway for me is, above all the innovation and technological advancements web3 will provide, the biggest one is giving musicians a genuine chance to take control of their careers, and give them the chance to create music they can be proud of, and share authentically with their audience. That for me is worth its weight in gold, and I hope I can contribute and help you in the education of web3 moving forward!
Your insights on the potential of web3 in the music industry are spot on! Embracing blockchain and decentralized technologies could indeed revolutionize how artists create, distribute, and monetize their work. Overcoming challenges like awareness, technical complexity, regulatory clarity, and infrastructure development will be crucial. Yet, the benefits—artist empowerment, transparent royalties, new revenue streams, and cultural preservation—are compelling reasons for the industry to push forward. It's an exciting journey toward a more equitable and innovative music ecosystem!
What would you say is the perfect introduction for musicians trying out web3? Any starter pack or top 3 dapps to start with?
100% agreed. web3 & music is a match made in heaven!
The idea of instant royalty payments sounds amazing for artists. No more waiting months to get paid!
been saying this and telling ppl let's Unite .....but once people catch on it will be a little too late....huge things are happening BTS that I'm excited about
Here for it.
Same here, saying the same from long time! Carpe Diem my music friends!
Physical and Digital Music | Music | LinkedIn Top Voice | Serenade | Founder at SpinBard
7moWhat are your thoughts? Does web3 have a future in the music industry? How long will it take? 🤔