Earning With web3 Music Platforms
Web3 music platforms, also known as decentralized music platforms, have the potential to revolutionize the way musicians and music creators earn revenue. These platforms use blockchain technology and NFT’s to create a decentralized and transparent system for buying, selling, and streaming music.
This allows artists to have more control over their work and to directly connect with their fans, without the need for intermediaries like record labels. Additionally, these platforms also provide new opportunities for fans to earn revenue through things like token staking, curation, and other community-driven activities.
Within the blockchain industry and outside it, big name artists and companies are recognising the potential in this area and getting involved.
Mastercard, a sponsor of the GRAMMY Awards®, Latin GRAMMY Awards® and BRIT Awards, is utilizing Web3 technologies to create experiences that are both exclusive and inclusive for both fans and artists. They are launching a spotlight program to help emerging musical artists tap into the power of Web3 and blockchain technologies. The Mastercard Artist Accelerator program, set to begin in spring 2023, will provide five emerging artists – such as musicians, DJs, and producers – with the tools, skills, and access to forge their own musical paths in the digital economy.
The program will feature a first-of-its-kind curriculum teaching the artists how to build and own their brand through Web3 experiences like minting NFTs, representing themselves in virtual worlds, and establishing an engaged community. The program will also be designed as a space for creators to come together and grow their music communities and will culminate in a live-streamed artist showcase later in the year.
“Music is a universal passion, inspiring us, moving us, and bringing us together; however, it can feel impossible for budding artists to break in. With the Mastercard Artist Accelerator we are expanding access and driving connections further with cutting-edge Web3 technology,” said Raja Rajamannar, Mastercard Chief Marketing and Communications Officer.
Here are three web3 music platforms that are building to create mass adoption of a more equitable and sustainable ecosystem for the music industry, to benefit artists and fans alike.
1. Royal
Royal is a music marketplace that allows anyone to invest in music and earn royalties alongside the artists. When users invest in a share of a song or album on the platform, they receive a token that represents a percentage of the music’s streaming rights.
So both the artist and investors receive royalties every time the song or album is played on streaming services like Spotify or Apple Music. The royalties token can also be sold at any time in the future on the Royal marketplace. Artists can also choose to attach other extras like fan experiences, exclusive tracks, or merchandise.
2. Audius
Audius is a decentralized music streaming platform catering to a community of fans, artists, content nodes, and discovery nodes. The platform removes the middleman and offers the freedom to distribute, monetize, and stream audio content.
Powered by its native token, $AUDIO, Audius rewards artists based on the value their music uploads provide on the network.
3. STEMS DAO
The Stems platform fosters collaborative creativity by centering the experience around stems, which are the building blocks of music. Stems themselves are the individual audio tracks that make up a song – think the bassline of “Seven Nation Army” by The White Stripes. Each stem NFT is unique and represents ownership of a piece of the song.
These individual pieces can be reused in different tracks, making attribution of royalties at the stem level extremely powerful. On Stems Dao, Stems can be used by music makers to sample and create new music. Stems can also be purchased by music fans and NFT collectors to support your favorite artists and earn royalties from new music created with stems.
———
Know another project decentralising the music industry you love and want to see listed on web3earner? Let us know!
Derek 
