WTF is Web3?!
You are a musician.
You’ve spent years crafting your sound, practicing your instruments, and creating songs that reflect your soul. But then, when you release your music, traditional platforms take a huge cut, and you don’t have much control over how your work is distributed or monetized. Web3 offers a new way of doing things, where you, the artist, have more control.
To explain how Web3 helps musicians, let’s think about it like music.
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In the traditional music world, many artists sign contracts with labels that own the rights to their music. It’s like signing away the rights to your own master recordings, which means you don’t always get the full financial benefits of your own work.
Web3, built on blockchain technology, is like you keeping your master recordings but in the digital space. Every song, piece of art, or content you create can be “tokenized” through NFTs (non-fungible tokens). These are unique digital assets that you can sell, trade, or even rent, giving you direct control. Think of it as creating and selling your own limited-edition records, without having to go through a label.
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Usually, when you release music, it goes through many hands—streaming services, record labels, publishers—all taking a slice of your earnings. It's like performing at a gig, and by the time everyone is paid (venue, sound crew, managers), you’re left with a tiny portion of the ticket sales.
With Web3, you can perform directly for your fans. Think of it as playing in a small, intimate venue where you get to keep nearly all the money from ticket sales. Platforms using Web3 let you sell your music directly to fans, bypassing the middleman. Fans can buy your music as NFTs, and you earn immediately without waiting months for royalties to trickle down.
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Imagine you have a superfan—someone who buys all your merch, goes to all your shows, and streams your music on repeat. With traditional platforms, there's no easy way to give them special perks.
Web3 lets you create a VIP backstage pass in the form of digital tokens. You could issue special NFTs to your most loyal fans, giving them access to exclusive content, early releases, or even virtual meet-and-greets. It’s like giving them a personalized signed vinyl, but digitally. These tokens can become valuable over time, not just for you but also for your fans.
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Musicians often collaborate on songs or albums. Normally, splitting profits can get complicated with lawyers, contracts, and paperwork.
Web3 uses smart contracts, which are like automatic agreements coded into the blockchain. Say you and another artist decide to split profits 50/50 on a song. Once the song is sold or streamed, the smart contract automatically divides the earnings according to the agreed-upon split. It’s like jamming with a band and knowing everyone will automatically get their share, with no hassle.
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Item descriptionOnce you sell a piece of music traditionally, you may only see earnings once. But in Web3, with NFTs, you can program in royalties. This means every time your music or NFT is resold, you get a cut of that sale.
Imagine you sell a special-edition album to a fan, and 5 years later, that fan decides to sell it to someone else. If it were a regular CD, you wouldn’t earn anything. But in Web3, you can still receive royalties on that second sale. It’s like every time someone sells your vinyl, you automatically get paid.
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Item descriptionStreaming is the dominant way people consume music today. But most artists only see a fraction of a cent per stream. Web3 introduces decentralized platforms where artists can upload music and decide how they get paid. It’s like setting your own gig fee—you decide what’s fair.
On some Web3 platforms, fans can pay directly per stream, tip you, or even support you through cryptocurrency donations. You’re no longer bound to what big platforms decide your work is worth.
In Conclusion: Take Control of Your Music
Web3 is like giving musicians their own label, venue, and distribution channels all in one. It lets you own your music, connect directly with fans, and earn in ways that weren’t possible before. Just like how music has evolved from vinyl to streaming, Web3 represents the next evolution—a future where artists have more control over their art and how they earn from it.