usicians and executives alike have witnessed the power of Web3 tools like nonfungible tokens (NFTs) in transforming audiences into active groups with fewer barriers between artists and enthusiasts.
Snoop Dogg recently collaborated with country music stars Billy Ray Cyrus and the Avila Brothers to start creating an NFT encounter that crossed genres and spawned new communities. While Snoop is a veteran of Web3, many musicians regard it as a completely new frontier.
Alexander, the head of IP at Animal Concerts, which helped facilitate the aforementioned NFT collection, confirmed that onboarding someone such as Snoop is very different from artists who don't generally keep up with the Web3 ecosystem, and it also depends on the artist's size.
He believes it is easier to set up smaller artists who are just starting out and eager for new opportunities. Whereas bigger artists may have more partnerships already, they frequently have more influence in mainstream culture.
Introducing the Web3-native community together with mainstream culture, however, is a difficult task, especially when one is a founded institution and the other is in constant development.
In terms of the general adaptation of Web3 outside of the music industry, Alexander believes that education and a thorough understanding of the space are both necessary and difficult.
He stated that when onboarding new artists, it is critical that people and companies in the space provide a safe, protected system where they can effectively learn about this innovation based on industry experts to ensure they are leveraging it in all the right ways.
When artists are introduced to this new, powerful technology, they are often excited by the prospect of new ways to create and communicate with their existing communities. Alexander cited concert experiences as an example.
Furthermore, he emphasized the distinction in collaborations in a Web3-centered industry as more enticing to artists. "They're more transparent, fair, and democratic," he claims.
Artists and major labels are both interested in this new Web3-inspired method of communicating and creating. Warner Music Group recently announced a collaboration with the NFT marketplace OpenSea to create new opportunities for artists.
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