Web3 Music Platforms Offer Artists 70% More Control

As streaming platforms dominate music distribution, artists have increasingly found themselves sidelined and earning fractions of pennies per play, all while relying on centralized platforms to reach fans. However, in a corner of the digital world, a new wave of creators, developers and platforms are exploring how Web3 tools can offer an alternative.

Decentralized music platforms have emerged in recent years to offer artists more control over their content, more direct access to their audiences and better monetization models. Many of these music-related use cases are not just theoretical and are already in the community at work. Instead of uploading songs to a platform that owns the data and controls the algorithm, artists’ options are expanding to distribute their music through decentralized platforms, like Audius, or token-gate content and even offer collectible versions of tracks that fans can own and trade.

In an interview, Dave Stewart of Eurythmics, who co-founded the Web3 music platform SongBits, stated: “Web3 allows us to ensure complete transparency in how these funds are handled, giving fans and contributors peace of mind that their support is making a real difference.”

Now, Cointelegraph is joining the experiment. To mark the recent launch of its new daily X show Chain Reaction, Cointelegraph has partnered with Audius to launch a remix contest to find the show’s official theme song. Artists from all corners of the web are invited to use the remix feature on Cointelegraph’s base track on the Cointelegraph Audius profile and upload their original theme song to Audius with the tag #CTChainReactionTheme. The winner’s music will be featured daily as the intro and outro to the show, and they’ll also be invited for a brief guest appearance. It’s a small contest, but it reflects a bigger shift: Decentralized creator ecosystems have real-world applications that work and can thrive, not just as marketing stunts, but as a way to engage more directly with Web3-native communities.

As music, content and culture become increasingly intertwined with onchain infrastructure, the creative economy may finally be heading toward something more equitable and more fun.

Web3 technology is making significant strides in transforming the music industry, shifting the focus from traditional ownership models to new opportunities for artists and fans alike. This transformation is evident in various real-world use cases, such as the recent remix contest organized by Audius in collaboration with Cointelegraph. The contest aims to find a theme song for the platform, leveraging the decentralized nature of Web3 to engage a global community of musicians and enthusiasts.

The mission to reshape the music industry through Web3 is not limited to contests and collaborations. Startups like Tebi, founded by the former co-founder of Adyen, are at the forefront of this revolution. Tebi is exploring innovative ways to integrate blockchain technology into the music ecosystem, providing artists with more control over their work and fans with a more immersive experience. This shift is part of a broader movement within the Web3 community to create a more equitable and transparent music industry.

The potential of Web3 in the music industry extends beyond just ownership and distribution. It also opens up new avenues for identity and innovation. For instance, the discussion between Brian Rose and Parul Gujral delves into how Web3 can redefine identity in the digital age, creating a universal identity layer that connects artists, fans, and brands in unprecedented ways. This layer could revolutionize how music is consumed and shared, making it more personal and interactive.

Moreover, the integration of AI with Web3 technology is another game-changer. Platforms like LootMogul are using AI to enhance the connection between athletes, fans, and brands, creating a more dynamic and engaging sports ecosystem. This approach can be applied to the music industry as well, where AI can help in discovering new talent, curating personalized playlists, and even predicting trends.

The core question of whether ownership can reshape power structures and inequalities in the music industry is also being addressed through Web3. By decentralizing ownership, Web3 technology empowers artists to have more control over their creations, reducing the dependency on traditional intermediaries. This shift could lead to a more democratic music industry, where artists have a greater say in how their work is distributed and monetized.

In conclusion, Web3 is on a mission to reshape the music industry by transforming ownership into opportunity. Through real-world use cases, innovative startups, and the integration of AI, Web3 is paving the way for a more equitable, transparent, and engaging music ecosystem. As the technology continues to evolve, it is poised to revolutionize how music is created, distributed, and consumed, benefiting both artists and fans.