Can NFTs Change How We Value Music?
Streaming is squeezing small artists; can crypto provide a more equitable future?
By Will Gottsegen.
“Privilege in the cryptocurrency space is a huge, huge issue in terms of the barrier to entry and the people who are natively in the space,” said Damga.
Those people who are “natively in the space” have already established aesthetic norms which may deter certain kinds of artists.”
“Mat Dryhurst suggested that headline-grabbing sales numbers and off-putting, explicitly crypto-themed artworks might not be a good indication of where NFTs are heading, or what they can do for the value of music. “For most people, right now, when they see crypto or blockchain and art, likely all they've seen is a Beeple GIF, and people making market memes on Twitter. I can understand why that would be kind of alienating. I'm not all that excited about that aspect of it.”
“Dryhurst’s idea that when it comes to the crypto ecosystem, we’re only limited by how big we’re thinking. The companies that dominate the current version of the Internet have already set their terms, exploitative or not. In the crypto space, there’s a chance for artists to drive the conversation about what comes next.”