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In the wake of Tiktok’s rapid expansion and growing dominance in the short-form video market, YouTube has felt the pressure to adapt to keep up with the shifting demands of its audience...Read more
October 5, 2022
Conan Gray is an American YouTuber turned singer-songwriter, most well-known for his songs about heartbreak and unrequited love. Throughout his career, Conan has written songs like “Crush Culture”...Read more
October 17, 2022
Phoebe Bridgers is an American songwriter, singer, and producer who has, in recent years, gained mainstream recognition with the release of her sophomore album “Punisher” in 2020...Read more
October 18, 2022
Steve Lacy is a singer, songwriter, record producer, and living proof that you don’t need the most advanced or high-tech studio equipment to create music that listeners will love...Read more
August 31, 2022
For the last two years, there has been something missing in the lives of music lovers around the world—live music. The advent of a global pandemic meant the absence of concerts, festivals........Read more
August 19, 2022
One of the biggest questions many spaces face today is how blockchain technology may overhaul industry norms, and the music industry is no exception. In particular...Read more
August 19, 2022
Snapchat has recently announced Snapchat Sounds Creator Fund, a monthly grant program of up to $100,000 awarded to independent artists distributing music on the platform...Read more
August 15, 2022
Over the past few years, TikTok’s popularity has significantly increased resulting in 1 billion global daily users by early 2022. The app has also become extremely influential in the current music....Read more
August 4, 2022
Charlie Puth has paired with Studio to create a 30-day online course that outlines the entire songwriting and production process for $279 USD. This hands-on learning experience has been marketed....Read more
August 2, 2022
Whether you know Lexie Liu from her performance as Seraphine in K/DA’s “MORE” or her fourth-place finish on The Rap of China 2018, there’s no denying that the Chinese hip hop star is a global ...Read more
June 17, 2022
BTS is the most famous K-Pop band in the world now, and recently, they were invited to the white house to speak about anti-Asian hate crimes and inclusivity. Being the first K-Pop band to be...Read more
June 6, 2022
SEVENTEEN (세븐틴) is a 13 member Korean boy band under Pledis Entertainment. They are split into 3 teams, the Hip Hop unit (S.coups, Wonwoo, Mingyu, Vernon), the Vocal unit (Jeonghan, Joshua, Woozi...Read more
One of the biggest questions many spaces face today is how blockchain technology may overhaul industry norms, and the music industry is no exception. In particular, creators and listeners alike are wondering whether blockchain might disrupt long-held understandings of ownership, earning, and engagement through the distribution of musical non-fungible tokens (NFTs).
An early mover in the music and cryptocurrency space is rapper Snoop Dogg, who earlier this year launched his first NFT project with the blockchain gaming company Gala Games, making his newest album Bacc on Death Row available for purchase as a digital token. Other prominent artists such as Eminem, Lil Pump, and Nas have also provided their own drops for fans interested in the emerging space.
Hip-hop creators appear to be the most eager to embrace blockchain’s place in the music industry. Snoop Dogg’s son Champ Medici, a crypto entrepreneur, has likened NFTs to the early days of hip-hop.
In a conversation with skidrowcrypto, Champ Medici said, “When I look at the footage, and I see people in New York, see Biggie on the corner freestyling, and my dad in Long Beach freestyling with Nate Dogg and Warren G, I’m like—yo, this is the same shit we’re doing with NFTs. I’m linking up with artists, graphic designers, and creative people to come up with a concept that can keep people entertained and engaged. That’s the same as making music."
Snoop Dogg believes that NFTs have the potential to upend the current status quo in the music industry and make it more fair to artists and consumers. Placing the ownership of musical works in the hands of artists and consumers instead of record labels allows artists to retain much more of their earnings, and for fans to engage with their favourite creators in new ways, including collecting and selling works in similar ways to other collectibles markets. Taking the label out of the equation can also afford the artist more creative freedom and room for self-expression.
This new form of engagement will not completely see record labels out of the picture, however.
“[Labels] know that they have so much control traditionally,” Snoop says. “And all that they’re hearing about in the NFT [and] Metaverse space is that the artist has control.” As a result, he predicts, record labels will slowly but surely find ways to enter this space in an effort to maintain control.
While the exact role blockchain will play in the music industry remains uncertain, it is definitely carving out a place for itself, especially among hip-hop creators and fans. If you are an aspiring music creator interested in the crypto space, be sure to keep an eye out for new developments as there is no doubting that blockchain technology is here to stay.