Unchained RAC and David Greenstein on Why Music NFTs Are Better Than Spotify - Ep.347
May 3, 2022
In this engaging discussion, André Allen Anjos, aka RAC, a pioneering crypto-friendly artist, joins David Greenstein, co-founder of Sound.xyz, a web3 music platform. They delve into how music NFTs can reshape artist monetization, arguing that the traditional industry often undervalues music. RAC shares his experiences with NFT drops and contrasts earnings with Spotify streams. Greenstein emphasizes community-building through music NFTs and the significance of smart contracts in creating transparency. The future of music is here, and it’s decentralized!
AI Snips
Chapters
Books
Transcript
Episode notes
RAC's Music Industry Journey
- RAC, since 2007, has worked with almost every major music label.
- He's experienced firsthand the financial downsides for artists, like toxic loan/advance models.
Music's Undervaluation
- Music streaming, while beneficial, undervalues music due to its fixed-price model.
- Artists and listeners lack input, making music potentially the most undervalued media asset.
Music NFT Formats
- Music NFTs offer diverse formats: single editions, limited editions (Sound.xyz model), and stems.
- Artists explore creative uses, like generative drops and interactive, evolving music pieces.
