“In 2021, we saw the premise of a new era for musicians with the rise of Web3, a term that englobes many new technologies (NFTs, Social tokens, DAOs, etc.), allowing creators and fans to connect directly without intermediaries. Those new tools have gained momentum amongst the music industry with artists such as RAC, who made more money out of one NFT drop than during a 15-year career as a musician, 3LAU, who sold various NFTs of his album Ultraviolet in an auction and generated $11.7 million in sales, or major artists such as Snoop Dogg and Steve Aoki backing Music NFTs.”