Here’s what musicians actually think of tokenizing content in Web3

Savannah Fortis10 hours agoHere’s what musicians actually think of tokenizing content in Web3Web3 music platforms offer musicians and creators the opportunity to tokenize their content in exchange for more connectivity with their community — but what do musicians actually think?980 Total views47 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe Web3 space has been a new frontier for artists and creators to reimagine how they offer content to their communities and fanbases — from tokenizing artwork for exclusivity to using that same technology to reward legacy fans for their loyalty. 

While the beehive of crypto social media is always buzzing about the next hottest drop, it can sometimes appear like an echo chamber of industry enthusiasts hyping projects.

So, what happens when artists not native to the space step in and use Web3 tools like non-fungible tokens (NFTs) and the metaverse to interact with their non-Web3-native fans?Tokenizing exclusivity

Cointelegraph heard from a number of artists participating in related initiatives led by Gala Music, a decentralized music streaming platform powered by its own layer-1 blockchain, to change the way fans engage with artists they love. 

In early June, Gala Music announced a major partnership with the American singer and rapper Anderson .Paak, along with the renowned producer Knxwledge.

The two used the platform to offer fans eight-week access, via Gala, to exclusive remixed music, along with Gala Music tokens and chances to win signed memorabilia. The platform has made similar partnerships with major artists including Snoop Dogg — a big champion of the Web3 space.

Related:Tokenizing music catalogs: The next frontier for Web3 and music industry

This type of exclusivity scheme has been seen before, with bands like Megadeth creating entire online worlds using Web3 tools to engage with their community. Last year, Cointelegraph spoke with the Megadeth community, which likened the Web3 community to a “virtual mosh pit” in all the right ways.

But what do the artists themselves think about bringing their content into the next iteration of digital interactions?Artists concur 

Jay Evan Jackson, aka Laganja Estranja, the choreographer and drag queen famous for their appearance on RuPaul’s Drag Race, is one of the latest major artists to release new music with Gala.

They said a long-time collaborator had introduced them to the space and touted “immense success” with NFTs. Estranja commented to Cointelegraph:“This is my first time exploring the Web3 space, and I must say I’m extremely eager to learn more… my BUDS have been asking for these intimate moments for a long time!”

The R&B and soul singer Macy Gray commented that this is an “exciting” new way for musicians to launch new music, especially since the advent of conventional music streaming, which has made such launches “drastically less lucrative.” 

She said she “loves” that fans can also profit from the songs they enjoy and the artists they follow. Snoop Dogg echoed this sentiment, saying that not only does the community enjoy it, but artists are getting “direct feedback” from their community on the work they’re putting out.

Money-B, a legendary rapper from the funk and rap group Digital Underground, said that these new means of releasing content provide a direct way to interact with his “fans, gamers and Web3 alike —communities to which I deeply belong,” adding:“It aligns perfectly with my ethos as an early adopter of new technologies.”

And it is no surprise many artists are finding new excitement and steam within the innovative offerings Web3 tools have to offer. 

In an interview last summer, Harvey Mason Jr., CEO of the Recording Academy, told Cointelegraph that music has always been at the forefront of adopting the new technology of the time to create:“Technological advancements have made people create music differently and made consumers able to have more material to draw from. This is another advance in a long line of things that have changed and affected our industry for the creators since the beginning of when someone had the first technological advantage of building a drum over a log with skin.”

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