{"id":497790,"date":"2022-10-03T00:02:00","date_gmt":"2022-10-02T21:02:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/music-nfts-a-powerful-tool-to-transform-an-audience-into-a-community\/"},"modified":"2022-10-03T00:02:00","modified_gmt":"2022-10-02T21:02:00","slug":"music-nfts-a-powerful-tool-to-transform-an-audience-into-a-community","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/music-nfts-a-powerful-tool-to-transform-an-audience-into-a-community\/","title":{"rendered":"# Music NFTs a powerful tool to transform an audience into a community"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a354ab8b38c5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a354ab8b38c5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/music-nfts-a-powerful-tool-to-transform-an-audience-into-a-community\/#%E2%80%9D_Music_NFTs_a_powerful_tool_to_transform_an_audience_into_a_community_%E2%80%9C\" >&#8221; Music NFTs a powerful tool to transform an audience into a community  &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/music-nfts-a-powerful-tool-to-transform-an-audience-into-a-community\/#Disrupting_the_music_industry_once_again\" >Disrupting the music industry once again<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/music-nfts-a-powerful-tool-to-transform-an-audience-into-a-community\/#From_audience_to_community\" >From audience to community<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Music_NFTs_a_powerful_tool_to_transform_an_audience_into_a_community_%E2%80%9C\"><\/span>&#8221; Music NFTs a powerful tool to transform an audience into a community  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvM2FjNDJiMmYtMTc2NS00YThjLTg5MzUtMWI3YTdkZmQyMTRhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-6ebd806f>As one of the oldest entertainment industries in existence, the music business has experienced many technological advances that enhanced widespread adoption. The digitalization of music meant that artists could reach any audience across the world, and digital distribution gifted people with unlimited access to music.\u00a0<\/p>\n<p>With these advances in distribution came some drawbacks in music monetization. The way musicians make money in a digital format has reduced margins from <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> or video revenue. Artists have been pushed back to generating revenue from offline endeavors like concerts and selling merchandise as the online landscape has been filled with intermediaries that take a piece of the pie.<\/p>\n<p>\u201cWeb3 and existing platforms help us build a new chapter of the music industry.\u201d Takayuki Suzuki, CEO at MetaTokyo \u2014 Web3 entertainment Studio \u2014 told Cointelegraph, \u201cIt was hard to find good music for me, checking many record stores in Tokyo and sometimes overseas. Now it\u2019s very accessible via streaming.\u201d<\/p>\n<p>A new paradigm of Web3 tools is giving creators the means to develop an existing audience and transform it into a community. Fan relations have become crucial and they have never been tighter with artists in Web3. <\/p>\n<p>Marcus Feistl, chief operations officer of Limewire, a Music NFT marketplace that was originally a free software peer-to-peer file sharing music-based platform, told Cointelegraph: <\/p>\n<blockquote><p>\u201cThe music and creator industry is certainly on the verge of a step change, moving from a Web2 model focused on content consumption to a Web3 model focused on content ownership. Artists are just beginning to find their way to best utilize Web3 to interact with their audience.\u201d<\/p><\/blockquote>\n<p>Among the many use cases for nonfungible tokens (NFTs), the most prevailing has been the ability to form communities around token holders. The rise of decentralized autonomous organizations experimented with coordinating these communities in a digitally native way. All these unlock potential opportunities for independent artists willing to innovate in the next iteration of the music space.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Disrupting_the_music_industry_once_again\"><\/span>Disrupting the music industry once again<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The music industry has always been willing to try new things. As Mattias Tengblad, CEO and co-founder of Corite \u2014 a blockchain-based crowdfunding music platform \u2014 told Cointelegraph, \u201cWhen music videos came out in the 80s, it was entirely new and people weren\u2019t sure what to make of it. Adoption of these things often starts slowly but eventually becomes mainstream.\u201d<\/p>\n<p>Web3 platforms are in their early stages. The majority of users are crypto savvy and have a basic technical understanding of how to interact on-chain. As the space develops, Web3 music platforms can become a key piece in the way labels and artists do business and market themselves. <\/p>\n<p>The opportunities presented by this <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> facilitate connections between like-minded individuals breaking any previous barriers to forming a community. \u201cIt was hard to maintain great relationships in the industry,\u201d reflected Suzuki, \u201cI\u2019ve been constantly meeting and re-connecting with forward-thinking people.\u201d<\/p>\n<p>These innovations aren\u2019t exclusive to incumbents of the music industry and young talent native to Web3 can open the gates for new expression and monetization. It is encouraging the relationship between artists, middlemen and fans to transition into a community.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Web3 is creating a new genre of NFT-driven music<\/em><\/strong><\/p>\n<p>Music innovation empowers those artists testing new technologies with the opportunity to become the next established artists of the upcoming generation. This can potentially diminish the importance of record labels to an artist\u2019s success. Many record companies are getting involved by moving some of their activity on-chain and releasing NFT collections.<\/p>\n<p>\u201cThere will always be a need for record labels, but I think the ones that fail to adapt to the changing landscape are at risk of being left behind,\u201d Tengblad said, adding:<\/p>\n<blockquote><p>\u201cOnce you have a loyal group of supporters, I think the technology opens the door for you to monetize your work directly, while also sharing in the benefits of your success with your supporters.\u201d<\/p><\/blockquote>\n<p>Successful Music NFT drops show how Web3 can disrupt the fundraising model by allowing artists to go directly to fans for funding. Those artists that make an effort to engage with their community and build a direct relationship with their fanbase will benefit the most from Web3.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"From_audience_to_community\"><\/span>From audience to community<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>An audience is <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly understood as a one-way relationship, while a community suggests a two-way communication between the artist and its fans. For a community to be productive, those involved should enrich the creative process by actively listening to each other\u2019s needs and proposing solutions for the betterment of the community as a whole.\u00a0<\/p>\n<p>As artists shift to a more community-driven <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach, blockchain and NFTs allow artists to raise funds from their fans with no middlemen and offer unique benefits and opportunities back to the people who contribute to them. Prevailing platforms are still a crucial tool for community building and music distribution to complement a Web3 strategy.<\/p>\n<p>\u201cAffordable digital recording has led to an explosion of musicians on YouTube who reach out to their community for collaborations, instant feedback, live streams, etc,\u201d commented Tengblad, \u201cSocial media and chat programs like Twitter, Instagram, TikTok, Telegram, and Discord give people who are interested in what you are doing a chance to engage with more of your content, connect with you and with each other.\u201d<\/p>\n<p>If an artist posts a new video on Youtube, their community can contribute to the artist\u2019s work by providing instant feedback and proposing new ideas that can help the artist grow and develop further. <\/p>\n<p>Activities performed by the community tend to enjoy a bigger impact and immediately affect the growth of an artist. With the backing of a strong community, artists possess a solid foundation to build a career.<\/p>\n<p><strong><em>Recent: <\/em><\/strong><strong><em>NFTs will bring crypto to billions of users, explains VC investor<\/em><\/strong><strong><em> <\/em><\/strong><\/p>\n<p>The engagement process between the artist and their community has to become as simple as possible. Suzuki explained: <\/p>\n<blockquote><p>\u201cWeb3 will give more power to artists and creators so there would be a need for education. Intermediaries could be supporters or contributors in a community not intercepting information or money.\u201d<\/p><\/blockquote>\n<p>This starts with clear communication and by making NFTs more accessible to everyone. Bringing NFTs and the model of content ownership closer to fans is what will ultimately drive artist communities, as it creates a much stronger and more exclusive connection between fans and creators.<\/p>\n<p>\u201cFor creators, this means an easy-to-use self-onboarding process where they can create their first NFT project in just a few clicks,\u201d concluded Fesitl, \u201cFor fans this means that you can either use a fully custodial service without the need of owning a wallet or directly connecting an external wallet, providing the full Web3 experience.\u201d<\/p>\n<p>Artists who are most prepared to succeed in today\u2019s industry are the ones who are willing to use every tool available to build an interactive and engaged community around their work.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"nifty_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/music-nfts-a-powerful-tool-to-transform-an-audience-into-a-community\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Music NFTs a powerful tool to transform an audience into a community &#8220; As one of the oldest entertainment industries in existence, the music business has experienced many technological advances that enhanced widespread adoption. The digitalization of music meant that artists could reach any audience across the world, and digital distribution gifted people with&#8230;<\/p>\n","protected":false},"author":1,"featured_media":497791,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvM2FjNDJiMmYtMTc2NS00YThjLTg5MzUtMWI3YTdkZmQyMTRhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[95118,74892,116,55649,117,39579],"class_list":["post-497790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-nft","tag-tokens","tag-art","tag-artists","tag-business","tag-music"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/497790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=497790"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/497790\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/497791"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=497790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=497790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=497790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}