Sounds good to me. If I had concerns, it would be that the vultures of the music industry, the labels, will make a windfall but none of the money will flow to the actual musicians. A second concern is that this will remove what little diversity there is on the radio. Economies of scale and agreements between the labels and the broadcasters will shrink the playlist to a handful of songs/artists. Also worry this will kill college radio, some of the few remaining bright spots on fm radio. All concerns aside, anything that can get more money to musicians seems like a good thing to me. I hope it pans out.
There are crypto solutions for music publishing being built right now. Fans invest via smart contracts, music sold as NFTs, investors automatically receive crypto income.
Everything happens on the blockchain, direct to consumer, musician receives the bulk of the income.
Comments
Sounds good to me. If I had concerns, it would be that the vultures of the music industry, the labels, will make a windfall but none of the money will flow to the actual musicians. A second concern is that this will remove what little diversity there is on the radio. Economies of scale and agreements between the labels and the broadcasters will shrink the playlist to a handful of songs/artists. Also worry this will kill college radio, some of the few remaining bright spots on fm radio. All concerns aside, anything that can get more money to musicians seems like a good thing to me. I hope it pans out.
There are crypto solutions for music publishing being built right now. Fans invest via smart contracts, music sold as NFTs, investors automatically receive crypto income. Everything happens on the blockchain, direct to consumer, musician receives the bulk of the income.
https://youtu.be/tKtr1Wr1NP8