Turning up the volume: Blockchain projects aim to disrupt the music industry
From letting fans co-own their favorite artist's music to providing fair earnings for musicians, projects are using blockchain to change the music industry.
Music is a tricky business. The industry has its fair share of controversies, from monopolies to the limited earning potential for upcoming artists. While Web2 brought many positive changes, the industry still has a long way. Because of this, projects are trying to utilize blockchain technology to provide new solutions to the age-old music market.
In the last ten years, the industry has changed drastically because of the internet and social media development. Artists have new mediums to share their songs, and fans have many new ways to engage with and support their favorite musicians.
However, like most things within the Web2 sphere, a select few own the assets in the industry, and large corporations profit more than the users and artists. While they are still in their early stages, some blockchain projects are trying to take a shot at changing the industry from within.
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