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DAO/NFT Promise New Value through Social Currency For Independent Music Artists

Updated: Dec 14, 2021

Tempest Takeaway:


Leave it to music industry outsiders (in this video) who have been immersed in crypto for the past five years, to accurately recognize the value of actual talent and intellectual property that solely impact the hearts and minds of music fans. They made the connection that it's actually the talent that controls their community - not a record label or a streaming service.

As big as the music industry feels to the average consumer, it's really been driven by a small oligopoly of major players over the years. Spotify and Apple Music came along and gave artists the ability to be discovered and fans a way to listen to all their music. But one key thing is missing for artists - revenue. Revenue that could help artists record, tour and really build incredible fan experiences solely for their fan base that could actually translate into artist growth.


Now the game is changing. Artists can now form their own DAO entities (Decentralized Autonomous Organizations) that effectively allow them to easily create projects with community ownership by selling tokens for cash or even sweat equity (to active fans that want to help with production, for example). Yes, there are still some regulatory unknowns at the federal level - similar to cannabis - but the truth is that DAO's are so overwhelmingly game changing, that the feds will ultimately have no choice but to recognize the legal structures of DAO's, not just a handful of states.


There are dozens of new platforms firing up right now claiming to provide these services to artists from a technical point of view. But still, these platforms are only part of the total solution, and they assume all consumers want to swim in the same pond with a pool of artists. To play, the prudent artist - big or small - first needs a vision, business plan and core executional team to pull off a DAO in a quality way - in other words, artists need to innovate by embracing and creating their own game plan. Every artist has a different vision, audience and impact potential.


That's where Tempest comes in. We speak the language of talent and provide the trusted experience to advise and partner with artists to design and then put their DAO/NFT plans into motion.


SOURCE VIDEO


Check out the full video at https://youtu.be/0Twx1e7x4rY

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