Ash 🎧💥🦆 (@fishman_ash) • Hey
Hunger on the hillside. Always the student.
Building Klezma.io - Web3 Music Launchpad that rewards fans and collectors for their engagement.
Publications
- Music.
- I adore you
- Strategies to Harness the Power of DAOs in the Music Industry, This is your guide to bootstrapping a DAO with NFTs and social tokens.
NFTs are the stepping stones for DAOs. By establishing a thriving NFT community, you create a foundation that can easily evolve into a DAO and eventually, incorporate social tokens.
Social tokens, while complex, bring an entirely new dimension to the DAO community. Stay tuned as we unravel the potential of social tokens in the next chapter.
Let's spark some ideas for your music-centric DAO: How about a DAO where art fans vote on your music? Such a model could encourage interaction and stronger ties within your community.
Imagine a DAO where fans can directly contribute to your music creation process. This innovative approach can take fan engagement to new heights.
Rewarding your community for promoting new music can work wonders. This concept, akin to Klezma but within a DAO, can incentivize your superfans to become active promoters if they have a stake.
Envision a decentralized, community-owned record label. Your community not only supports but also finances your work. They are no longer just fans - they are your investors.
DAOs, NFTs, and social tokens could rewrite the rules of the music industry, creating a more inclusive, interactive, and decentralized model. Are you ready to be a part of this revolution?
Enjoyed this thread?
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2) Get my new Web3 Music Book (it's free). Link in bio.
- 1/ Exploring the future of music: what might a decentralized record label look like? It starts with transparent financing.
2/ If you're creating a DAO where fans finance you, they should know what they're investing in. This means showing your balance sheet.
3/ While not all DAOs follow this practice, transparency is paramount, especially if fans are expected to invest with the intention of a return.
4/ This isn't just about financial transparency. Fans should have insights into your plans, operations, and what their investment is fueling.
5/ CEOs being open about their company's finances is a rising trend. A DAO should be no different. Your community deserves to know what's happening.
6/ However, total transparency may not always be suitable. Certain decisions are best left to the CEO or leader who understands the bigger picture.
7/ Early in a project, it's vital to trust the leadership to make sound decisions. After all, they see the organization from a perspective others don't.
8/ DAOs bring a host of complexities. But as the novelty wears off, we'll likely navigate these challenges and harness the power of this model.
9/ Enjoyed this thread? 1) Follow me for more Web3 Music insights. 2) Get my new Web3 Music Book (it's free). Link in bio.
- Who really runs the show in a DAO? Despite the buzz around decentralization, every ship needs a captain. Let's explore the role of specialized leadership in DAOs.
Experience and expertise matter, even in a DAO. Consider this: a manager with a proven track record in the music industry is a wealth of value.
In a DAO, having everyone equally involved in all decisions might not be the most efficient way. Expertise should guide who makes certain decisions.
Enter 'sub DAOs' - a concept where those with specializations, like marketing or business development, hold more weight in decisions within their domain.
This approach enables members of a DAO to utilize their strengths, making the collective body stronger and more effective.
Amidst all the buzz about decentralization, it's crucial to remember that someone must still guide the overall direction and operations of the DAO.
Those in these leadership roles must take their responsibilities seriously. Their actions can influence the success or failure of the entire DAO.
So, while DAOs democratize decision-making, a degree of structure and specialized roles are necessary for efficiency and success.
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- Building a Decentralized Record Label - A potential evolution in the music industry where artists wield greater control over their worth and earnings.
Traditional record labels may determine your worth and take a substantial portion of your earnings. With a decentralized record label, the game changes.
You now have the power to dictate what you're willing to offer and have a community back you both financially and emotionally.
This supportive community is not just fans; they're stakeholders. If they believe in your work, they can back you, potentially leading to better deals than traditional models.
With the right community, you can have a powerful team on your side - marketers, business development professionals, and A&R specialists.
The extent of your engagement with the community could even earn you a paycheck based on your involvement. This interaction makes DAOs a fascinating option for artists.
To get started, it's straightforward: Build your community, identify who's actively engaged, and move forward from there.
The concept of a decentralized record label is not just a dream; it's a feasible reality, empowering artists to establish a deeper connection with their fans and gain more control over their careers.
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- How to build the base of a community run record label : Empowering Artists With Decentralized Communities
When fans are emotionally and financially invested, artists gain new freedoms. This dynamic can free you from unfavorable record label deals.
DAOs offer an innovative solution. Your team can hold significant voting power and potentially be paid by the community.
This could evolve into a decentralized record label. Artists gain more control over their work, unlike traditional labels that often take a large cut from their earnings.
Artists can now have a supportive community both emotionally and financially. This community is not only fans, but also potential investors who believe in the artist's vision.
As an artist, you determine what you're willing to offer. If the community agrees, they'll support you. This agreement can foster stronger relationships and even better deals.
With a carefully curated community, you gain access to marketers, business development professionals, and A&R specialists.
The best way to start is simple: build your community, identify who's engaged, and progress from there.
Enjoyed this thread?
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- 1/ Creating a DAO: Striking a Balance Between Fan Experience and Financial Rewards - A guide to getting it right.
2/ Imagine fans investing in a musician's DAO. They're investing in talent, expecting a portion of royalties in return. The musician's team must then work diligently to generate revenue.
3/ If they fail, it can harm their reputation and fan relationships. Careful planning is crucial when establishing a DAO or a decentralized record label.
4/ Governance and Potential Pitfalls in DAOs - Here's what you need to know.
5/ Distributing power fairly among DAO members can be challenging. Various models have tried to solve this by assigning power based on member engagement.
6/ However, problems still exist. If voting power is tied to the number of tokens held, wealthy members could dominate. Good ideas from others might be drowned out.
7/ Conversely, if voting is linked to wallets, individuals might create multiple wallets, manipulating the system.
8/ Building a Successful DAO in the Music Industry - The key lies in believing in people and building a robust community with user-friendly tools.
9/ While there may always be some corruption, creating a positive environment can help manage these issues. For artists, a DAO can be a fantastic way to garner quick feedback and achieve financial alignment with fans.
10/ Enjoyed this thread?
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2) Get my new Web3 Music Book (it's free). Link in bio.
- 1/ There are Two Types of DAOs in Music . Here is what you need to know.
2/ DAOs can serve two primary purposes in the music industry. Let's discuss these two types.
3/ The first type is interactive DAOs. These DAOs foster a sense of community where members can vote and feel engaged.
4/ Members often pay a membership fee to join these curated communities. The goal here isn't to earn money but to enjoy exclusive experiences.
5/ A comparison can be made to Soho House, where the emphasis is on offering the best experience possible for the members.
6/ The second type of DAO is a fundraising DAO. These DAOs collect funds and operate akin to venture capital firms.
7/ Fundraising DAOs invest in various projects and startups. BitDAO is a prominent example of this kind of DAO.
8/ With fundraising DAOs, it's crucial to carefully construct revenue models and strategies for reinvesting earnings into the business.
9/ As a musician or music enthusiast, understanding these two types of DAOs can help you navigate the Web3 world better and engage more deeply with your community.
10/ Enjoyed this thread?
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- 🕊️ Let's talk about balancing fan experience and financial rewards when creating a music-focused DAO (the new digital LLC).
🕊️ Imagine fans investing in a musician's DAO or a management group, expecting a percentage of royalties in return. This model turns fans into stakeholders.
🕊️ But here's the challenge: The musician or team must work hard to generate revenue. If they don't, it can damage their reputation and relationships with fans.
🕊️ It's not just about the financial rewards. The fan experience is crucial. A DAO that fails to deliver can lead to disillusioned fans.
🕊️ So tread carefully when creating a DAO. Consider the implications. Think of it as creating a "decentralized record label." More on that later.
- 🕊️ Wondering how DAOs can serve musicians and their communities? It's all about creating engagement and fostering growth. Let's break it down:
🕊️ Firstly, there are interactive DAOs. These platforms are all about community engagement and voting power. Members may pay a fee to join, not for financial gain, but to enjoy exclusive experiences. Think of it like the Soho House of DAOs.
🕊️ In this model, the focus isn't on earning money but delivering the best experience for members. It's about creating a sense of belonging, a space where members can vote, engage, and feel part of a community.
🕊️ Then there are fundraising DAOs, akin to venture capital firms in the crypto world. These DAOs collect funds and invest in various projects and startups, like BitDAO.
🕊️ In such models, careful planning of revenue models is essential, as is strategizing how to reinvest earnings back into the business.
🕊️ Enjoyed this thread?
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- Web3 Music Cohort - Day 1 : Intro to Web3 Music w/ Matthew Adell and Jon Romero
On Day 1 I am joined with Matthew Adell (Prev. VP @ Napster, CEO @ Beatport and Founder and CEO of Metapop) & Jon Romero (prev. Head of Marketing at Vector Management).
We discuss:
- Best practices in Web3
- How to view the space
- How music is evolved
- Do's and Don'ts
- and so much more
- 🕊️ Let's talk about the new LLC with smart contracts called "DAO" and how they might want to operate as a buisnesse Uniswap is one of the largest DAOs today, and it earns a cut from each transaction on their platform, which is reinvested into the DAO.
🕊️ But not every DAO follows the same blueprint. When building a community, it's paramount to understand and maintain a careful balance of money flow.
🕊️ Ultimately, whether you name it a DAO, an LLC, or anything else, it's an organization and it needs a stream of revenue to thrive.
🕊️ Enjoyed this thread?
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- 🎵 According to DeepDAO, the DAO (Decentralized Autonomous Organization) ecosystem has amassed about $12.7 billion in treasuries.
But it's not just about the money; engagement is a vital factor to consider.Take Uniswap, the largest DAO in crypto with ~360,000 token holders.
Yet, it only averages a 6-7% participation rate—about 1,600 votes per proposal.
Does this imply DAO hype, a focus on financial gain, or a true return for members?
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- 🎵 What's a DAO? Simply put, it's an online community bound by shared financial or community-building goals. Using smart contracts and shared banking, voting systems, DAOs offer an exciting avenue for collaboration. Let's delve into their rise and potential impact on the music industry.👇
🎵 Online communities have seen explosive growth in recent years. With the digital landscape becoming a vital part of our lives, 76% of internet users are now involved in an online community.
🎵 Facebook groups alone have 1.8 billion monthly users. Why this immense participation? It's because 98% of online community members report feeling a sense of belonging. This connection leads to increased engagement and, often, deeper relationships.
🎵 Since Covid-19 hit, online community participation has spiked by 81%. An impressive 82% of these participants engage with brands within these communities. Among them, 4 out of 5 are ready to participate immediately.
🎵 The power of belonging and engagement is not to be underestimated. 98% of those in online communities experience a sense of attachment, which can translate to emotional and financial investment.
🎵 Four out of five people are eager to participate immediately, indicating a strong desire for involvement and influence. These are promising signals for musicians planning to use DAOs as a platform for their community.
🎵 As a musician in the Web3 era, harnessing the power of DAOs could be pivotal. By building a strong, engaged online community, you can foster deeper connections with fans and increase their willingness to support you.
🎵 DAOs are more than just a buzzword. They represent a shift in how we collaborate and connect online, offering an exciting opportunity for musicians to navigate the digital music industry in innovative ways.
🎵 Enjoyed this thread?
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- 🎵 Thriving in the Web3 Music landscape with NFTs may seem like a daunting task, but with the right approach, it can be a rewarding journey. Here's a "how-to" guide with practical steps to get you started. Let's dive in!
👇🎵 Start with a deep dive into the history of NFTs and their impact on the music industry. Understanding past strategies can give you a solid foundation for your own NFT journey.
🎵 Consider the influence of brands, celebrities, and pop culture in NFT adoption. These can be powerful catalysts to drive your NFT projects.
🎵 Realize that an NFT's value lies beyond the token itself. It's all about the unique experiences and relationships it fosters.
🎵 Don't be afraid to experiment with innovative NFT use cases for musicians. Whether it's Royalty NFTs or granting commercial rights, the possibilities are endless.
🎵 Strive for inclusivity. Make NFTs approachable for a wider audience by considering options like optional wallet connections.
🎵 Understand the dynamics of management splits and royalties in the music business. This knowledge can guide you when setting up your own NFT sales.
🎵 Be prepared for potential impacts of record label contracts on NFT sales. As labels start to embrace NFTs, they might request a piece of your sales.
🎵 Leverage on-chain data to drive your marketing and business decisions. By collecting wallet addresses, you can gain valuable insights about your fanbase.
🎵 Enjoyed this thread?
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2) Get my new Web3 Music Book (it's free). Link in bio.
- 🎵 Ever wondered about the future of NFTs in music? They are pivotal for community building and offer unique benefits for artists and fans alike. Here's how NFTs are reshaping the music industry 👇
🎵 NFTs serve as gateways for building robust fan communities. They can be digital collectibles, exclusive passes, or rewards for the most engaged fans. It's a whole new way to reward fan engagement and create unique token-gated experiences.
🎵 As an artist's reputation grows and their NFTs increase in value, these digital assets could be used as collateral for loans in the DeFi world. Imagine using an exclusive concert pass as collateral for a home loan!
🎵 NFTs foster unprecedented direct engagement. They allow artists to communicate with their community directly, eliminating intermediaries. Soon, we might see messages and emails sent directly to your digital wallet.
🎵 NFTs could potentially revolutionize music royalties. Blockchain technology might make middlemen redundant, as we could track plays and reward artists with royalties based on their NFT plays.
🎵 Consider NFTs as the new vinyl. Collectibles that earn artists money on initial purchase, or people could pay a tiny fee each time they play an NFT track. Imagine your digital NFT collection like a vinyl library at home, with online NFT music aggregators enabling collectors to showcase their collections.
🎵 While a future where streaming is entirely NFT-based might seem far-fetched, rewards in the form of NFTs for frequent or early listeners could be a plausible scenario, adding a new dimension to the streaming experience.
🎵 Should NFTs become part of streaming, we could see the collection of both public and mechanical royalties. Alternatively, if NFTs become the new vinyl, artists may only collect mechanical royalties, similar to picking up a vinyl in a store.
🎵 These micro-payments for each play could add up, benefitting the artist or collectors. Essentially, they're a new way of distributing Mechanical and public performance royalties.
Enjoyed this thread?
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- 🎵 On-chain reputation is becoming the new "blue check". How you act and engage in the crypto space will soon speak volumes about your authenticity. Here is everything you need to know.
🎵 In the future, people will scrutinize your digital wallet. They'll want to verify if you're a true crypto enthusiast, an early supporter of specific artists, or involved in particular projects. Are you genuine, or just faking it?
🎵 The fan psychology behind NFTs is fascinating. Collectors want recognition. They want others to know they collected something unique and were part of the journey from the start. It's the clout of being an early adopter!
🎵 This urge for recognition extends beyond social media. Blue checks and follower counts are morphing into wallet checks. By utilizing NFTs, we cater to this need for recognition, attention, and a sense of importance.
🎵 NFTs are the gateway to everything Web3. They're a powerful tool and often the first concept people grasp in the crypto world. When used correctly, they can be an excellent entry point to the digital realm.
🎵 The possibilities with NFTs are immense. Tools for creating, minting, distributing, and showcasing NFTs already exist, and more are on the way. With these tools, we can develop unique use cases, harness data, and enhance digital experiences.
🎵 In summary, NFTs are more than just digital tokens. They're a powerful means of fostering community, establishing on-chain reputation, and tapping into the psychology of fans.
- I am 29 today.
Here is what I have learned on my 29 years on the planet
- Work hard.
- Always always stay positive.
- Stay the student. Learn from everyone. Including your competition.
- Chase passion and stay on the course. When you focus and attack something long and hard enough, you will figure it out.
- Be intensely careful who and what you keep around you. You are what you surround yourself with. Cut out anything that does not sit with you well.
- Nothing and I mean nothing is free in life. You cannot take without giving.
- Not everything is what it seems. Look deeper.
- Take care of your body. It is the only tool you have.
- Take even more care of your mind. When harnessed, it will get you whatever you want out of life.
- healthy body = a healthy mind.
- Family is really the only type of people that will stick around through it all. Appreciate it and make it work. pretty much no one except family deserves your patience to put up with that much bullshit.
- think bigger.
- Time is the most precious currency on the planet. Guard your time wealth.
- Nature is literally the best medicine. Keep it Natty.
- Fear comfort. It is your enemy.
- Eat shit. It is good for you.
- People are everything. Invest in people. Not in tech.
- Listen to your guy / spidey sense. Everyone wants something. And that is perfectly okay. It is human nature. Understand what they want and how you can be of value. (see "nothing in life is free" above)
- Aim to win. Aim to be disciplined. Aim to be free.
- Money is not the goal. Freedom to control your time to do what you want with it is.
- The life is complex. But simple in a lot of ways. There tends to be a reoccurring theme in many aspects of business, relationships, and more.
Catch the theme and it will help you move faster and more agile with many aspects.
- Here's a quick guide on handling management, splits, and royalties in web3 and leveraging on-chain data to crush it. Let's dive in.
👇🏼🎵 Step 1: Utilize splits for smooth operations. Involve key parties like managers and use splits to automatically divide sales from on-chain transactions, such as NFTs. It's a seamless way to ensure everyone gets their fair share!
🎵 Step 2: Prepare for future contracts. As NFTs rise in popularity, expect record labels to start asking for a slice of your NFT sales. This trend is already starting to show, so get ahead and prepare for it.
🎵 Remember, staying ahead of these shifts and changes in the music industry is vital. Knowledge is power, and being prepared is half the battle.
🎵 Step 3: Build a strong community around your music. A great strategy? Collecting your fans' wallet addresses. It's a gold mine of insights into their behaviors and preferences.
🎵 Step 4: Leverage on-chain data for success. Analyze data from your fans' wallets to identify trends and build an "ideal fan" persona. This will be your North Star guiding your marketing efforts and business decisions.
🎵 Remember, in the Web3 music world, data is king. Harness it effectively, and you're on your way to achieving greater success in the music industry.
- 🎵 Musicians, are you looking for innovative NFT strategies that could revolutionize your digital presence? How about rebranding NFTs as digital virtual passes? Here's an insightful dive into this concept. 👇🏼
🎵 Consider offering a free mint of your NFTs as digital virtual passes instead of using the technical term "NFT." This could make the concept more approachable, broadening its appeal to a wider audience.
🎵 Accessibility is key. Not everyone is comfortable or familiar with crypto wallets. To bridge this gap and improve accessibility, consider making wallet connections optional.
🎵 This strategy caters to all: those excited about crypto and those who are just here for the music. By offering an alternative for fans who don't want to connect their wallets, you ensure inclusivity and reach a wider audience.
🎵 As NFTs and wallets gain more popularity, their usage will naturally increase. But until then, it's essential to accommodate all potential fans. Music is universal; let's strive to make its digital experiences the same.
🎵 Rebranding NFTs and focusing on accessibility can help you engage a broader audience and create a more inclusive experience. With these strategies, you'll be leading the digital transformation in the music industry.
🎵 Embrace these innovative NFT strategies and amplify your digital music experience. The future of music is here, and it's digital. 🚀🎶
Enjoyed this thread?
1) Follow me for more Web3 Music insights.
2) Get my new Web3 Music Book (it's free). Link in bio.
- 🎵 Want to level up your fan engagement strategy in the music world? Then it's time to dive deep into the game-changing possibilities of NFTs. Let's uncover how musicians are creatively using these digital assets.👇🏼
🎵 Beyond the standard platforms, innovative NFT use-cases are blooming for artists. One such case? Royalty NFTs. But tread lightly - these can be legally complex and tricky to navigate. ⚖️
🎵 Imagine granting NFT holders commercial rights to a beat or a piece of your music? This isn't a far-fetched idea. In fact, it mirrors what the Bored Ape Yacht Club did with their NFT holders. 🛥️🦍
🎵 Bored Ape Yacht Club gave commercial rights to individual NFTs, leading to a significant buzz and fan engagement. This unique strategy led to unexpected and exciting results, from NFT-inspired clothing lines to cartoons.
🎵 What if you did the same with your music? Offering generative beats or remixes with commercial rights creates a unique, personalized experience for your fans. It's like owning a piece of you and your creative journey. 🎧🔥
🎵 The potential of NFTs extends far beyond just buying and selling. They can become an exciting tool for fan engagement, creating a deeper connection between you and your audience. It's about community, shared ownership, and mutual growth.
🎵 NFTs are shaping the future of fan engagement in the music industry. By combining creativity with cutting-edge technology, musicians are unlocking new dimensions of interaction. Embrace this change and let your music resonate louder! 🚀🎶
Enjoyed this thread?
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2) Get my new Web3 Music Book (it's free). Link in bio.
- Uploading serious content can be expensive 😒
That 100 USD to upload....
- 1 Let's continue on our journey about building and maintaining a superfan community in the Web3 music space. I've mentioned DappRadar's study before, which highlights that people want earnings, savings, and understandable perks from NFTs.
2 As musicians, our primary focus should be mirroring these preferences in the music space. Remember, you are a brand and a business. The way you handle your fanbase, music, and customers is the cornerstone of your success.
3 Recognizing your superfans, both on Web2 and Web3, is crucial. These individuals deserve more for their loyalty, and this understanding can lead to a stronger, more engaged community.
4 The below chart illustrates the growth of returning collectors
5 These loyal collectors and superfans exist even in the Web3 space. Identifying them provides invaluable data to bootstrap and grow your community.
6 In summary, people collect for various reasons - some speculative, some long-term. But wouldn't it be more beneficial to reward the latter? Focusing on building genuine relationships and brand value could revive the market.
7 A good strategy to start? Consider free giveaways to understand who's collecting. As relationships with returning collectors strengthen, you can gradually increase the charge.
8 Enjoyed this thread?
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2) Get my new Web3 Music Book (it's free). Link i
- 1 Here is how I know that 99% of people creating NFTs are thinking short term.
2 One chart shows that almost 50% of creators have only done one drop. To me, this suggests that people are not effectively utilizing NFTs to engage with their community.
3 This could be because artists aren't seeing immediate success, are overwhelmed, or are only making short-term moves. This could mean a quick cash grab or losing motivation after unsuccessful drops.
4 Independent artists face the same challenges as entrepreneurs – they often have to do everything themselves while potentially balancing a full-time job. This could be why we’re seeing these patterns in the data.
5 I also believe many artists aren’t looking at the long-term potential of super fans. Super fans can significantly impact an artist's career, but this isn’t being capitalized on.
6 Lastly, almost 80% of artists stick to one platform. While this may be convenient, it limits the potential for growth and diversity in audience reach.
7 So, how do we fix this? Artists need to build and engage their fan communities more effectively, embrace the potential of super fans, and diversify their presence across multiple platforms.
8 Bottom line: Don't be that guy.
9 Enjoyed this thread?
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2) Get my new Web3 Music Book (it's free). Link in bio.
- Let's dive into the step-by-step process of building and utilizing the Web3 tech stack in an artist's journey. It's like constructing a building: one floor at a time.
An artist starts their career and uses NFTs to build their community. They use data to see who's collecting, who's not, and construct their fan base from there.
NFT drops can offer different types of rewards or even sell a piece of their royalties. It's like a treasure hunt for their fans, with each piece having its unique value.
From this community base, artists can create a DAO, giving their fans more power and access. Think of it as turning the fan club into a decision-making body.
The DAO can vote on different aspects of the artist's career. It's not just about following the artist's journey, it's about actively shaping it.
An artist can finance their career using social tokens. These tokens can fuel the entire community economy, offering incentives for fan engagement and loyalty or even represent shares of royalties.
Token-gated events, virtual experiences, concerts, exclusive content in the Metaverse. It's like offering VIP passes to their biggest supporters, collectors, and token holders.
So we're going from NFTs to DAOs, DAOs to social tokens, and then diving into the metaverse. It's like a journey through the different stages of Web3.
The reason this approach can be so effective is the need for a growing fan
The journey of an artist in the Web3 world is a step-by-step process, but every step builds upon the last, creating a powerful network of engaged and active fans.
Enjoyed this post?
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- Productivity Tip: How to automate your whole week like a marine.👇
Sunday is for prepping your week. Consider it like packing your equipment for the weeks mission. - Make a list of all the things you want to get done.
- Create and schedule all content
- Use extra hours to have extra time on side hustles
- Chill knowing rest of day knowing you do not have to think about it rest of week
- Get ready to crush the week
Prep well, you win the day.
Execute well, win the week.
Win the weeks, you win the month.
Win the months you win the year.
Let your competition enjoy their Sunday Funday while your organization compounds.
- 1 A look at the future of music NFTs shows that as an artist becomes more successful, the value of their NFTs increases. Early supporters can then sell their NFTs to new fans for a profit.
2 This approach not only rewards fans for their early support, but also shares the artist's success with them. By focusing on unique experiences and building relationships, artists can create a sustainable future for music NFTs.
3 Instead of speculation, the emphasis is on long-term value. NFTs are more than just digital assets. They are a means of building communities, fostering fan-artist relationships, and providing unique experiences.
4 In the future, we can expect to see more artists use NFTs as a tool to engage their fans and grow their careers. This will inevitably lead to a more inclusive, rewarding, and sustainable music industry.
5 Enjoyed this thread? 1) Follow me for more Web3 Music insights. 2) Get my new Web3 Music Book (it's free). Link in bio.
- 1 Music has always been a field ripe for innovation. With NFTs, it's evolving in exciting ways. Here's a look at the pioneers and how they are shaping the music industry.
2 Uler Beats was one of the earliest music NFT projects, creating generative remixes post minting. Other projects like Sound.xyz emerged as marketplaces hosting drops from artists like Snoop Dogg, and smaller independent artists.
3 Some took things even further. Royal, for instance, offered fans ownership of song royalties through NFTs. And Arpeggi emerged as a Web3 version of Splice, where artists could create beats, mint them as NFTs, and sell the rights to use them.
4 In the 2021 bull market, there was a frenzy of NFT sales. People speculated on their potential value, but fans were paying high prices for NFTs from lesser-known artists, which wasn't sustainable.
5 In the bear market, the focus shifted. A sustainable model emerged where independent artists used NFTs to bootstrap themselves and offer fans special access and perks. A focus on true value became key.
6 Enjoyed this thread? 1) Follow me for more Web3 Music insights. 2) Get my new Web3 Music Book (it's free). Link in bio.
- crypto needs to be frictionless.
Everything you think is not friction is.
- web3 is a place where i have heard many people say “how can i help.”
Let's not let bad actors ruin it
- 1 Let's dive into the fascinating world of NFTs and their evolution. What started as an interesting concept has turned into a force to be reckoned with in the world of digital assets and blockchain.
2 In 2012, Yoni Assya introduced colored coins, small units of Bitcoin meant to represent assets. But due to various issues, like the Bitcoin blockchain not supporting them, the idea didn't stick.
3 Fast forward to 2014, when Kevin McCoy created the first NFT, Quant, on the Namecoin project. However, this also ran into issues due to registration problems, leading to a lawsuit.
4 In 2015, Counterparty developed the first blockchain card game, Fellow Genesis. A year later, Rare Pepes, a project based on the Pepe the Frog meme, became famous when one sold for $37,500!
5 Then came CryptoPunks in 2017. Algorithmically generated and entirely unique, they became one of the most influential NFT projects of all time. Their success even drove companies like Visa to purchase them.
6 CryptoKitties, launched in 2017, allowed players to purchase, breed, and trade virtual cats. This gamified approach opened up a whole new avenue for NFTs and blockchain gaming.
7 Axie Infinity introduced the play-to-earn model in 2018, giving users the chance to earn cryptocurrency while playing the game. However, the sustainability of this model is still a question.
8 Decentraland took NFTs to another level in 2020 by creating a virtual world where players could buy and sell virtual land and in-game items, showing the true potential of NFTs.
9 NBA Top Shot, launched in 2020, was a game-changer for NFTs. With a huge brand like NBA getting onboard, NFTs saw a massive surge in popularity and adoption.
10 Art Blocks, also launched in 2020, offered an innovative approach to generative art. NFTs could be minted and randomly generated on demand, akin to a traditional art gallery.
11 Finally, Bored Ape Yacht Club burst onto the scene in 2021. With full commercialization rights for NFT owners, they've brought NFTs into pop culture, creating a high-status brand.
12 The journey of NFTs has been nothing short of astonishing. From colored coins to Bored Apes, they have created a whole new world of digital assets, changing the way we see and interact with art, gaming, and more. Looking forward to seeing what the future holds!
13 Enjoyed this post?
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- Too many people that are "music NFT" experts have not taken the time to understand the industry. Web3 gives you the chance to be the pioneer of an next-gen version industry if you take the time to learn it or build in it. As time goes on, they will be washed out.
- 1 My 10 tips for killing it in the Web3 music creator economy.
2 Strong Super Fan Community: This isn't just about numbers, it's about engaging with fans and creating value for them. Nurture those relationships, because these are the people who will carry your music far and wide.
3 NFTs: Not just a buzzword, but a tool for building your community. Offer exclusive content through NFTs to strengthen the bond with your community and add a fresh layer of excitement to your art.
4 DAOs: Your fans aren't just passive listeners, they can be active contributors too. Form a DAO to involve your community in decision-making and give them a sense of ownership over your journey.
5 Social Tokens: These can be the engine that drives your career. They're a way to finance your journey, incentivize fan loyalty, and give your community a tangible stake in your success.
6 Metaverse Opportunities: Virtual concerts, special events, exclusive content - the Metaverse is a vast, uncharted territory for artists. Find your niche in it, and you'll unlock new ways to connect with your community.
7 Web2 and Web3: Navigating the legal and ethical differences between these two worlds is essential. Stay aware, stay informed, and ensure your journey into Web3 is smooth sailing.
8 Web2 Presence: Don't abandon your Web2 platforms entirely. These can still be effective tools for distributing your music and reaching new audiences.
9 Traditional Roles: Management, publishing, and other roles can still be important in the Web3 world. The key is integrating Web3 tools into these roles to make them more effective and aligned with the new paradigm.
10 Legal Aspects: Keep yourself informed about the evolving legal landscape of Web3, especially concerning royalties and rights management.
11 Empowering Communities: It's not just about money. Offering more ways to get involved, like through sweat equity, can give your community a sense of belonging and ownership that can't be bought.
12 Enjoyed this post?
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- Thoughts on Music & Culture In Web3 - we have to do better.
**#music** **#culture** **#web3** **#blockchain** **#creatoreconomy** **#startups**
https://www.ashfishman.com/blogs/if-web3-music-is-culture-then-we-have-to-do-better
- 1 As we continue our exploration of human psychology in the realm of crypto, let's take a look at how we can engage with the two types of people we identified earlier.
2 Often, Web3's inclusivity or governance is based on token ownership. This could shut out many people who can't afford a big investment. But there's a workaround - sweat equity.
3 Sweat equity in Web3 is an underutilized concept. It's about empowering your community to contribute beyond financial investment. Think about sharing your music, contributing to projects, or helping in any way they can.
4 The beauty of sweat equity is that it creates opportunities beyond financial investment. It democratizes participation and fosters a sense of belonging. Exclusivity has its place, but inclusivity can be even more rewarding.
5 By engaging both types of people and satisfying their needs, we can build a committed, diverse fan community. It's not just about instant financial rewards, but fostering long-term success and emotional attachment.
6 Remember, having a larger community provides more support, marketing, and opportunities. It paves the way to long-term success. Keep this in mind as you build your brand in the Web3 world.
7 Enjoyed this post? 1) Follow me for more Web3 Music insights. 2) Get my new Web3 Music Book (it's free). Link in bio
- Lessons from entrepreneurship? One big takeaway?
- 1 I want to cover is something I believe is very powerful. No matter what you create, consider human psychology.
Think about how our actions can fulfill human needs and wants, giving them the most value possible.
2 We humans are complex creatures with a myriad of needs and wants.
Want to be successful in Web3 and beyond? Always remember that.
This brings us to Maslow's Hierarchy of Needs
3 Picture this: you see people investing in Web3 projects, maybe NFTs or DAOs. They say they're just supporting artists. But are they really? Or is it more about a potential financial gain? Time for some straight talk.
4 In the music industry, we have to face the fact that many buyers are after a quick flip. That's okay, it's part of the market. But once we acknowledge this, we can unlock immense potential.
5 We can recognize two types of people.
Type 1: Those who put money in and then get emotionally invested.
Type 2: Those who are already emotionally invested and might have money to put in.
6 Our aim here? Get these people to love what you're doing. Make them feel part of something bigger. Help them work for the upside.
7 Understanding these motivations isn't about passing judgment. It's about accepting the reality of the market and using it to our advantage. Trust me, this can be a game-changer.
8 Enjoyed this post?
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2) Get my new Web3 Music Book (it's free). Link in bio.
- Swap entrepreneurship reads for real starts. Mastering comes from doing, not studying.
- Let's dive into the step-by-step process of building and utilizing the Web3 tech stack in an artist's journey. It's like constructing a building: one floor at a time.
An artist starts their career and uses NFTs to build their community. They use data to see who's collecting, who's not, and construct their fan base from there.
NFT drops can offer different types of rewards or even sell a piece of their royalties. It's like a treasure hunt for their fans, with each piece having its unique value.
From this community base, artists can create a DAO, giving their fans more power and access. Think of it as turning the fan club into a decision-making body.
The DAO can vote on different aspects of the artist's career. It's not just about following the artist's journey, it's about actively shaping it.
An artist can finance their career using social tokens. These tokens can fuel the entire community economy, offering incentives for fan engagement and loyalty or even represent shares of royalties.
Token-gated events, virtual experiences, concerts, exclusive content in the Metaverse. It's like offering VIP passes to their biggest supporters, collectors, and token holders.
So we're going from NFTs to DAOs, DAOs to social tokens, and then diving into the metaverse. It's like a journey through the different stages of Web3.
The reason this approach can be so effective is the need for a growing fan
The journey of an artist in the Web3 world is a step-by-step process, but every step builds upon the last, creating a powerful network of engaged and active fans.
Enjoyed this post?
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- Building a Web3 Music Startup Part 10 🫡🎧
Get everything I have learned in one book (it's free) 👇
https://www.ashfishman.com/official/how-to-be-successful-in-music-with-web3-and-crypto
#creators # music #tech #shorts #web3 #startups #entrepreneurship
- Building a Web3 Music Startup Part 9 🫡🎧
Get everything I have learned in one book (it's free) 👇
https://www.ashfishman.com/official/how-to-be-successful-in-music-with-web3-and-crypto
#creators # music #tech #shorts #web3 #startups #entrepreneurship
- Building a Web3 Music Startup Part 8 🫡🎧
Get everything I have learned in one book (it's free) 👇
https://www.ashfishman.com/official/how-to-be-successful-in-music-with-web3-and-crypto
#creators # music #tech #shorts #web3 #startups #entrepreneurship
- Building a Web3 Music Startup Part 6 🫡🎧
Get everything I have learned in one book (it's free) 👇
https://www.ashfishman.com/official/how-to-be-successful-in-music-with-web3-and-crypto
#creators # music #tech #shorts #web3 #startups #entrepreneurship
- Building a Web3 Music Startup Part 5 🫡🎧
Get everything I have learned in one book (it's free) 👇
https://www.ashfishman.com/official/how-to-be-successful-in-music-with-web3-and-crypto
#creators # music #tech #shorts #web3 #startups #entrepreneurship
- Building a Web3 Music Startup Part 4 🫡🎧
Get everything I have learned in one book (it's free) 👇
https://www.ashfishman.com/official/how-to-be-successful-in-music-with-web3-and-crypto
#creators # music #tech #shorts #web3 #startups #entrepreneurship
- Building a Web3 Music Startup Part 3 🫡🎧
Get everything I have learned in one book (it's free) 👇
https://www.ashfishman.com/official/how-to-be-successful-in-music-with-web3-and-crypto
#creators # music #tech #shorts #web3 #startups #entrepreneurship
- Building a Web3 Music Startup Part2 🫡🎧
Get everything I have learned in one book (it's free) 👇
https://www.ashfishman.com/official/how-to-be-successful-in-music-with-web3-and-crypto
#creators # music #tech #shorts #web3 #startups #entrepreneurship
- How to build a Web3 Music Startup Pt.1 🫡🎧
Get everything I have learned in one book (it's free) 👇
https://www.ashfishman.com/official/how-to-be-successful-in-music-with-web3-and-crypto
#creators # music #tech #shorts #web3 #startups #entrepreneurship
- There are Two Types of DAOs in Music . Here is what you need to know.
DAOs can serve two primary purposes in the music industry. Let's discuss these two types.
The first type is interactive DAOs. These DAOs foster a sense of community where members can vote and feel engaged.
Members often pay a membership fee to join these curated communities. The goal here isn't to earn money but to enjoy exclusive experiences.
A comparison can be made to Soho House, where the emphasis is on offering the best experience possible for the members.
The second type of DAO is a fundraising DAO. These DAOs collect funds and operate akin to venture capital firms.
Fundraising DAOs invest in various projects and startups. BitDAO is a prominent example of this kind of DAO.
With fundraising DAOs, it's crucial to carefully construct revenue models and strategies for reinvesting earnings into the business.
As a musician or music enthusiast, understanding these two types of DAOs can help you navigate the Web3 world better and engage more deeply with your community.
Enjoyed this thread? 1) Follow me for more Web3 Music insights. 2) Get my new Web3 Music Book (it's free). Link in bio.