5 ways crypto upgrades the music industry: 1. Distribution Right now it takes 3 months to get paid after your song is streamed on Spotify. It should be instant. 2. Permanence Your music shouldn’t disappear when a platform shuts down. Your playlists + mixtapes shouldn’t disappear either. 3. Splits and rights There should be one source of truth for all song ownership, with smart contract splits for all contributors. 4. Ticketing Transparent ticketing. Verified fan-first purchasing. Kill scalping with smart contract resales. 5. Know your fans Artists should know who streams their music, buys their merch, buys tickets. 6. Bonus: capital formation Artists should be able to raise money without predatory record label and publishing deals. Patronage from fans, or shared incentives via token ownership.
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The music industry would be 10x more efficient onchain. • pay artists instantly, not 3 months late. • splits and rights in one verifiable place. • transparent data to track real fans. • raise capital without giving up rights. • fair ticketing. The problem: music monopolies often have a vested interest in keeping these things inefficient.
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Just ripped a pack of songcoins from @cooprecs @ripsapp. Giving me those 2022 NFT reveal chills. Super nice 👌🏼
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