Music is one of the most influential and powerful forms of art. Music has the power to change moods, create feelings, and influence behavior. The music industry is a multi-billion dollar industry that has been around for centuries. However, with the rise of new technology and digitalization, there are many ways in which this industry will be disrupted in the future.
The music industry has gone through many changes as a result of technological advances. For example, when vinyl records were first introduced, it was seen as a huge threat to the traditional music industry because it allowed people to listen to their favorite songs without having to go out and buy them. The introduction of CDs was also seen as a threat because they allowed people to record their own CDs from vinyl records or cassettes without having to go out and buy them again. Nowadays, with streaming services like Spotify that allow people to listen to all their favorite songs for free on demand at any time from anywhere in the world.
With this in mind how will music enter into the Web 3 world!
There are several ways that the music industry could change in the Web 3 world.
One way is through a site like Musicoin, which allows people to download music without having to pay for it because they can “mine” them instead of buying them. Another big change that has happened in the music industry over time is how technology has allowed artists to sell their music by giving it away for free on the internet.
How are songs distributed today?
The way that artists distribute their music has changed over time, but it has been and remains dependent on the success of a song, with the most successful songs being bought and controlled by the artist or an individual. This can be best seen with the Web 3 music platform Sound.xyz backed by Snoop Dog himself! Artists are apparently making more money in a shorter time on this platform then they can make in years on Spotify!
In summary, Music NFTs is still at the extremely early stages of adoption and it’s certainly going to be exciting times ahead to see where it takes us! I for one will be watching with a keen eye!
Check out this video by BIGONES.NFT:
