Platforms such as Sound, Audius, Zora, Royal and Catalog focus on artists retaining ownership rights to their music NFTs, allowing them to receive royalties every time they are resold. Since music NFTs are minted on a blockchain and backed by metadata, issues of relinquishing intellectual property rights are mitigated. Blockchains also facilitate tracking where the content is used and distributed. This change allows artists to be compensated directly.
Snoop Dogg could be carrying the torch for what is possible when independent musicians hit major labels. He and other Web3 denizens have brought awareness to how creators and owners can benefit in the ecosystem with future listen-and-earn rewards through music NFTs.beyond just serving as audio files. The infrastructure of Web3 and blockchain has unlocked and revolutionized the industry of the creator economy.
“What I found in my pursuit of continued creative autonomy in web3 last year was freedom and the ability to exhale for the first time in a long time. It’s been a nonstop rollercoaster of ideation, creation and execution.”While YouTube pioneered a new way for users to create, present and distribute content, platforms are now integrating Web3 features of ownership into their models.
The notion of ownership in Web3 benefits both the creator and their communities because of provenance. Given that content licensing can be captured on blockchain networks, the goal is for the days when creative works would get persistently pirated to be long behind us.
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