The average American consumer spends a third of their waking hours streaming #music, and yet only 1% of music artists are able to make a living through streaming.

The state of the music-industrial complex is the definition of unfair. We live in a time where music has never been easier to record, distribute and listen to.

It’s also never been harder to make a career out of creating. Creators rarely hold power and influence in the commercial side of the ecosystem.

The unequal distribution of revenue and #IPRights in the music industry has been a long-standing problem. The monolithic enterprises determine how much artists are paid. They also influence their music styles as well as their public image.

On top of that, there is a lack of transparency and low royalty rates on most streaming models. The industry is dominated by middlemen and streaming services optimized for corporate profits. The shares are rarely split evenly.

This could be solved by tokenizing music tracks as music NFTs. Artists immensely benefit from creating music #NFTs, as they can release their album on-chain with higher royalties and avoid sharing a huge revenue split with third parties.

In fact, music NFTs are one of the fastest-growing branches within the NFT realm. Apart from the monetary upside, artists can involve their fans and build a passionate community.

Through music NFTs, artists are able to reduce their dependence by obtaining funds directly from their fans. Selling NFTs and related #artwork is a way for an artist to forge a direct relationship with a fan base without a record label or music-streaming service.

Building communities will help artists to directly connect with fans, and start crowdfunding and crowdsourcing ideas for new albums.

Artists can even issue their music NFTs to raise funds, and offer their fans the chance to earn a portion of the revenue.

Buying the token that represents your ownership will often come with extras: such as exclusive access to other artist content, VIP passes to performances, etc.

In the end, this will equate to a bigger profit for the creator since there’s one less hand in the cookie jar.

The truth is, creators rarely hold power and influence in the commercial side of the ecosystem. The unequal distribution of revenue in the music industry has been a long-standing problem. On top of that, there is a lack of transparency and low royalty rates on most current streaming models.

he industry is dominated by middlemen and streaming services optimized for corporate profits. The shares are rarely split evenly.

This could be solved by tokenizing music tracks as NFTs. Artists immensely benefit from creating music NFTs, as they can release their album on-chain with higher royalties and avoid sharing a huge revenue split with third parties.

The monolithic enterprises determine how much artists are paid. They also influence their music styles as well as their public image. Through NFTs, artists are able to reduce their dependence by obtaining funds directly from their fans.

Many blockchain technologies allow for shared ownership of an artist’s music through the use of “smart contracts”. A music NFT is a certificate of ownership of a unique musical work that can be sold to another party. The owner has the exclusive right to determine how the composition is used.

Buying the token that represents your ownership will often come with extras: such as exclusive access to other artist content, VIP passes to performances.

Selling music and related artwork via the blockchain is a way for an artist to forge a direct relationship with a fan base without the need for a record label or music-streaming service. It can equate to a bigger profit for the creator since there’s one less hand in the cookie jar.

Owning a fractionalised NFT of a song allows the holder to earn royalty income based on song’s performance on Spotify, YouTube, Gaana, etc.
https://yourstory.com/the-decrypting-story/gaana-fantiger-music-song-nfts-royalty-sunanda-sharma/amp

Web3 as a way for artists to get rid of the middleman of social media. Web2 social media platforms came around and kind of hijacked this whole thing. It doesn’t really feel like a two-way street anymore. Music NFTs are one of the fastest-growing branches within the NFT realm. Apart from the monetary upside, artists can involve their fans and build a passionate community.

with Patreon, you’re just creating a login But with his “Open Source” community, which grants holders access to things like advance album listening parties, and livestreams, “the artist owns the data.” it’s another tool in the toolkit of artists, so anytime we have any other kind of leverage
I think this was the endgame, to create this kind of community space, this Web3 community,
https://decrypt.co/108294/from-the-silk-road-to-nfts-why-musician-and-artist-tycho-sees-web3-as-the-endgame