Hip -hop —takening producer Frank Nitty joined in COINGEEK Weekly livestream This week to discuss how blockchain technology and web 3.0 transform the music industry. He was united by Bryan Daugherty and Gregory Department By Smartledger solutions, says Kurt Wuckert Jr. How Voltronmusic is changing the game.
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Frank Nitty requires a fairer music industry
For long-term hip-hop fans, Frank Nitty needs no introduction. But for those who do not know, he is an actor and the legendary producer who “survived the Death Row. He is now firmly focused on using blockchain and Web 3.0 Technologies to strengthen hip -hop artists.
Nitty says that labels and streaming platforms have robbed artists for several years. Platforms like Spotify Pay 1 cents per power and collect large amounts of data. Artists slowly wake up to this, and they want a fair proportion of the revenue that their creations give in, as well as some rights over it.
Daugherty points out that when many artists signed is about labels, they did not imagine digital platforms, things like digital twins And versions of themselves, and they could never have predicted how labels can use their pictures. “They lost the right to themselves,” says Daugherty. These are often life agreements; In some cases, the labels maintain rights over their work and images after they die.
How Technology changes the music industry
Wuckert is similar to these Music agreement To when people could not read and send letters through agents or managers who could. Nowadays, artists are more informed and knowledgeable, and they have technology that strengthens them.
Technology like Napster, who began to break the chokeholdet that the major labels had on the industry, first came out 20 years ago, and the industry’s transformation in the short time has been massive. The Creator economics Has taken off, and artists can build direct contacts with their fan base.
Ward points it out Youtube And other online sources can help to out mystify the legal artists often cannot understand. The Voltronmusic platform has AI tools to help artists understand these terms and negotiate better offers. It can also allow everyone involved to have ownership and ensure revenue continuously.
More about voltronmusic
Nitty says voltronmusic will soon have a launch party. He suggests a “Day of the Dead” launch that involves metaver element. Metavere can create experiences such as concerts, meet and greet and parties, everything from home.
Ward explains that Voltronmusic is an app that gives users a set of cryptographic keys. They can then use these for different purposes, such as signing rights and unlocking unique experiences. It’s about having fun when using blockchain for tools.
Daugherty highlights how the technology is the communication warehouse. It unites people, and if Nitty succeeds, a unique culture can remain genuine and the creators can be compensated fairly for the first time.
To learn more about how artists and the music industry respond and if this can be transferred to other types of media as movies, check out the live stream Through this link.
Watch: Web3 is natural development of technology
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