As streaming platforms dominate music distribution, artists have more and more discovered themselves sidelined and incomes fractions of pennies per play, all whereas counting on centralized platforms to achieve followers.
Nevertheless, in a nook of the digital world, a brand new wave of creators, builders and platforms are exploring how Web3 instruments can supply another.
Decentralized music platforms
Decentralized, Web3-native music platforms have emerged in recent times to supply artists extra management over their content material, extra direct entry to their audiences and higher monetization fashions.
Many of those music-related use circumstances usually are not simply theoretical and are already locally at work.
As a substitute of importing songs to a platform that owns the info and controls the algorithm, artists’ choices are increasing to distribute their music by means of decentralized platforms, like Audius, or token-gate content material and even supply collectible variations of tracks that followers can personal and commerce.
In an interview with Cointelegraph in late 2024, Dave Stewart of Eurythmics, who co-founded the Web3 music platform SongBits, instructed Cointelegraph:
“Web3 permits us to make sure full transparency in how these funds are dealt with, giving followers and contributors peace of thoughts that their help is making an actual distinction.”
Main by instance
Now, Cointelegraph is becoming a member of the experiment. To mark the latest launch of its new every day X present Chain Response, Cointelegraph has partnered with Audius to launch a remix contest to seek out the present’s official theme track.
Associated: AI can compose good music, however humanity nonetheless holds the inventive baton
Artists from all corners of the net are invited to make use of the remix function on Cointelegraph’s base observe on the Cointelegraph Audius profile and add their unique theme track to Audius with the tag #CTChainReactionTheme.
The winner’s music will likely be featured every day because the intro and outro to the present, they usually’ll even be invited for a quick visitor look. For full contest information and prize bundle, go to the occasion web page.
It’s a small contest, however it displays a much bigger shift: Decentralized creator ecosystems have real-world purposes that work and may thrive, not simply as advertising and marketing stunts, however as a strategy to interact extra immediately with Web3-native communities.
As music, content material and tradition grow to be more and more intertwined with onchain infrastructure, the inventive economic system might lastly be heading towards one thing extra equitable and extra enjoyable.
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