The Prof G Pod with Scott Galloway Office Hours: Blockchain in the Music Industry, Divisive Concepts, Gratitude, and the Value of DEI
May 17, 2021
Discover how NFTs could reshape the music industry and challenge major platforms like YouTube. Dive into the impact of diversity, equity, and inclusion on business success and explore the fallout from legislative moves to ban 'divisive concepts' in schools. The discussion also touches on the challenges of creative clarity amid stress, the need for varied viewpoints, and the importance of gratitude in the tech sector. Plus, examine the responsibilities that come with wealth and success.
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NFTs and Music Industry Disruption
- YouTube is essential for musician discovery, but not monetization, offering low payouts.
- Blockchain and NFTs offer potential for direct artist-fan connections and better revenue.
NFT Sales Examples
- Grimes made $6 million, and The Weeknd $2 million, selling NFTs.
- One Weeknd NFT with an unreleased song sold for $490,000.
Dispersion and Disintermediation
- Blockchain facilitates "dispersion," connecting creators directly with consumers.
- This disrupts intermediaries like publishers, agents, and labels.