Musicians and executives have discovered the power of Web3 tools such as nonfungible tokens (NFTs) to transform audiences into dynamic communities with fewer barriers between artists. and fans.
Recently, the crypto-savvy Snoop Dogg teamed up with country music stars Billy Ray Cyrus and the Avila Brothers to create an NFT experience that went viral and created new communities in the process. While Snoop is a veteran on the air, many musicians see the Web3 world as a new frontier.
Cointelegraph spoke with Bernard Alexander, head of IP at the Animal Concerts group, who facilitated the aforementioned NFT collection, to better understand what brings artists to Web3.
Alexander confirmed that posting something like Snoop is very different from “artists who don’t usually care about the Web3 ecosystem.” It can depend on the size of the artist.
He said that it is easier to arrange small artists who are starting to be interested in new opportunities. Although artists are sometimes more involved with collaboration, but the influence is greater among the main culture:
“All artists, regardless of their size, have something to gain from dipping their toes into the world of Web3.”
But integrating the Web3 community with a strong culture is not an easy task, especially since some companies are established and others are in a constant state of development.
Related: Music NFTs are a powerful tool to transform the public into a community
As with the general use of Web3 outside of the music industry, Alexander said that education and understanding the space is both a tool and a big challenge.
“People can be hesitant to jump into a rapidly growing space.”
He said that when it comes to placing new artists, it’s important for people and businesses in the space to provide “a safe and secure place where they can really learn to about this technology and work with industry experts to ensure it is used in the right ways.”
When artists are introduced to this new and powerful technology, they are often excited to be able to create new ways to create and connect with their communities. Alexander gave an example of funny facts:
“For artists who have put on similar concerts for years, this ability to push the boundaries of technology and music is very exciting.”
In addition, he showed the difference of interaction in a Web3-centered business as more interesting to artists. “It’s more transparent, more efficient, and more democratic,” he said.
This new Web3-integrated method is being considered by artists and major labels. Recently, music industry company Warner Music Group entered into a partnership with the NFT marketplace OpenSea to create new content for artists.