Naavik Gaming Podcast Gaming, Music, & Tipping: A New Era for Creator Payments
Dec 4, 2024
Sam Means, Founder of Wavlake, a music distribution platform utilizing Bitcoin, and Ben Cousens, Chief Strategy Officer of ZBD, delve into revolutionary payment methods for creators. They discuss how Wavlake is transforming artist payments and music distribution through the Lightning Network, allowing for immediate, cost-effective transactions. The conversation highlights the shift towards ‘tipping’ creators, insights on copyright in the digital age, and innovative approaches to support emerging artists, especially in underserved regions.
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Sam Means' Music Journey
- Sam Means transitioned from a touring musician to founding Wavelake focusing on music distribution.
- He leveraged Bitcoin's Lightning Network to create a fast, low-fee payment system for artists.
Bitcoin Speeds Artist Payments
- Traditional payment methods for artist payouts are slow and costly with fees and delays.
- Bitcoin Lightning Network enables fast, nearly free transactions to better support artists directly.
Direct Artist Monetization Needed
- Only a small fraction of artists earn most streaming revenue, leaving 95% underserved.
- Wavelake enables direct monetization from fans to artists, bypassing intermediaries and delayed accounting.