The music industry has led technologica Events for Growth Engagement production and consumption for years. The sector has carried on its tradition of innovation in recent years, but now it serves as a platform for experimenting with Web3 technologies. Startups are racing to reinvent the way fans connect with their favorite artists and how artists make the most of their platforms, with solutions ranging from blockchain-based royalties to non-fungible tokens (NFTs).
Many aspiring musicians still see a bright future with Web3 capabilities interwoven into the music-making and sharing process, so this isn’t a disappearing myth either. Dave Stewart, one half of the popular duet The Eurythmics and one half of the company SongBits, has speculated that live performances may serve as the connecting link between Web3 innovation and genuine audience involvement.
Live events for Web3 music platforms
Web3 music platforms, such as SongBits, see live events as an integral part of their expansion plan, rather than an extra feature. Unlike other digital platforms, SongBits considers themselves more than that. What we call technology is really only a means to a goal. The music, the artists, and the fans are what really matters,” Stewart told Cointelegraph.
In an effort to raise money for Big Issue’s fight to eradicate homelessness and poverty in the UK, SongBits will be hosting its inaugural Christmas charity event in London. Performers at the event will include musicians whose music is available on the platform.
You can’t make it in the world of innovation and the arts by relying only on the internet. For genuine connection-making and music-loving growth, showing up in the actual world is essential.
Live events are more than simply Events for Growth Engagement. As Stewart pointed out, they’re an opportunity to showcase artists in a prominent position, which is truly their rightful place.
Web3 charity community
SongBits has also investigated Web3’s potential to make a positive impact. All proceeds, including donations, go to a charitable cause, says Stewart. Fans and contributors may be assured that their assistance is truly making a difference since Web3 enables us to guarantee total transparency in handling these monies.
Built with Web3 capabilities, SongBits allows for innovative types of fan participation beyond transaction transparency. For example, fans can buy fractional music ownership and have the earnings go to charity.
According to Stewart, when people donate, they join a collective narrative, which means they’re not just making a difference but also strengthening their bond to the music they adore.
A Hybrid Music Industry Future
With a long career spanning decades, Stewart has been a mainstay in popular music as a producer, musician, and multi-Grammy winner. He shares the optimism of many other big names in the music industry about the future of Web3 music crossover.
Stewart thinks Web3 will play an important part in the music industry going forward whether it was the transition from vinyl to streaming or the emergence of social media as a means of discovering new artists. Transparency, fair compensation, and deeper fan Events for Growth Engagement are long-standing challenges, but Web3 represents the next frontier, offering solutions to all of them.
Stewart sees a future where Web3 and traditional music industry techniques coexist, rather than Web3 completely displacing established ones. The future of music will likely be a hybrid of the traditional and the innovative, with Web3 platforms forming a critical part of the ecosystem. The key will be building tools and systems that complement the existing industry while offering unique opportunities for artists and fans.
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