Blockchain continues to rock the music industry With all the excitement surrounding blockchain and token economies (tokenization) – there is a unique angle and market which receives minimal coverage—helping independent music artists unlock new financing opportunities, without having to sacrifice their ownership rights and contract rights, including control of future royalties to intermediaries and recording companies. Token economies recognize and reward fans for coming to the stage and utilizing services.
On this stage, an artist is able to sell tokens to fans directly in order to raise funds for creative projects. By leveraging and utilizing smart contracts, artists are then able to receive immediate payouts and monies generated from the song, rather than waiting months or even years to see their hard work paid off.
It’s straight up tough for Indie artists. The main focus for a musician is ultimately to make great music and be a great live performer.
However, in today’s digital age, in order to be a successful independent artists (“Indie”), it’s difficult to rise above the noise and be recognized by recording companies. It’s no longer about having an impressive portfolio and streaming numbers—it’s about being heard and the brand strategy.
Educating Yourself On Promotion, Social Media, and Numbers In a previous interview I had with Matthew Sorum, the drummer for The Velvet Revolver and former drummer for Guns N’ Roses, he told me that in order to be successful, artists need to “educate [themselves] on everything [they] need to know in the digital world—how to promote yourself, your music, and be a real contender in your social aspects.” “The first question recording companies ask is what [their] social media numbers are. It’s not about the music anymore, which is what bothers me about the ‘new’ music industry,” said Sorum. Read more from forbes.com…
thumbnail courtesy of forbes.com