Study finds musical artists hold mixed views on blockchain use
Written by WOM writer on January 30, 2024
Researchers at Korea University in Seoul conducted interviews with 16 Korean musical artists to gauge sentiments toward the use cases for blockchain in the music industry.
The study, published in a subsidiary of Nature, reported mixed results: The artists thought of blockchain as a possible new route for revenue generation but doubted blockchain-enabled applications would become reality.
Interviewees believed that blockchain applications for the music industry could better their financial prospects and help protect copyright. Skepticism stemmed from a general belief that blockchain music startups would lack the heft to unseat the current behemoths in the music industry.
The music industry has become a popular target for those building in Web3, though startups have yet to make a substantial dent in the status quo.
Warner Music Group-backed MITH is building a Web3 social engagement platform for musical artists. Rapper Jack Harlow leveraged MITH partly for ticketing on his recent tour after partnering with the platform.
In a similar vein, Modhaus raised $8 million in a Series A round for its K-pop fan engagement platform.
LimeWire, the early 2000s file-sharing site, recently launched a blockchain-enabled AI Music Studio.
Source: Jack Kubinec – blockworks.co
Image: unsplash.com
