The music industry struggles with broken metadata, leading to billions lost in royalties for indie artists. Current systems rely on outdated databases, causing discrepancies in song credits. Blockchain offers a solution through a decentralized registry, ensuring accurate, permanent, and transparent metadata, which will promote fair royalty distribution and empower independent musicians.
The music industry needs a robust middle class of independent artists who can support themselves financially through diverse income streams. By engaging with 1,000 true fans, utilizing tools like AI and Web3, and treating their careers as businesses, artists can achieve stability, create communities, and foster innovation within the industry.
The article discusses the transformative impact of tokenized music rights driven by blockchain technology, enabling artists to offer fractional ownership and share royalties directly with fans. This model fosters deeper engagement and revenue transparency, reshaping traditional music industry dynamics. Challenges persist, including regulatory considerations and market risks, but the movement empowers both artists and fans.