Web 3.0. Revolution in Art and Music

The Internet has been constantly evolving since its inception. From static web pages and basic messengers, we have moved on to interactive social platforms and applications with groundbreaking technologies.

Web 3.0: A New Era of the Internet

Now, it’s time for the next step – Web 3.0. I remember when my partner, Tomasz Olszewski, also known as “Mr. Vinyl,” first told me about Web 3.0. At one point, I asked, “Hold on, you’re talking about Web 3.0, but what happened to Web 2.0 or Web 1.0?”

I was puzzled, and yet what we use in our daily lives – web browsers, email, digital communication, or messengers – are earlier versions of the web.

So, what is Web 3.0, then? In a word, whether we like it or not, it’s the next era of the Internet. It brings new possibilities, including the use of Non-Fungible Tokens (NFTs) by artists and musicians.

NFTs – A New Era for Humanity?

NFTs are unique, indivisible digital assets that use blockchain technology to document the authenticity and ownership of a piece of art, a musical composition, or other digital content. Blockchain technology ensures their unquestionable authenticity and ownership history.

With NFTs, artists can transform their works into valuable digital collections, and buyers and fans can become their rightful owners. NFTs are changing and slowly reshaping the way artists and musicians earn from their creativity, shifting from traditional models of selling physical goods to a digital world that offers virtually unlimited possibilities.

With NFTs, artists can transform their works into valuable digital collections, and buyers and fans can become their rightful owners. NFTs are changing and slowly reshaping the way artists and musicians earn from their creativity, shifting from traditional models of selling physical goods to a digital world that offers virtually unlimited possibilities.

1. Musical Minting

Minting their works as NFTs allows artists and musicians to earn from their creativity not only through traditional channels but also by selling digital copies of their works. This enables them to generate income independently of concerts or album releases. That’s why many music artists release their songs as NFTs.

For instance, the band Kings of Leon released their album “When You See Yourself” as an NFT, offering exclusive content only to token holders. This opens up new revenue streams for artists and builds fan loyalty.

Similar to this, the Polish-Ukrainian band DAGADANA provided their fans with distinctive album covers painted especially for them by Ukrainian artist Olga Kravchenko. Minting the NFT token also granted access to exclusive content and high-quality files, known as digital vinyl (still to buy), created specifically for the band by Polvinyl.

2. Ownership Control

With NFTs, creators retain full control over their works. They can specify how many copies will be created and the profits they’ll earn from each sale.

3. Digital Art and NFTs

Digital art has become a popular space for NFT collectors. Artists like Beeple and Grimes sell their works for millions of dollars as NFTs, showing that digital art can be as valuable as traditional pieces.

The era of speculation in NFTs is likely behind us as the market stabilizes, and buyers increasingly scrutinize what NFTs represent and what digital assets they receive in return for their purchase.

NFTs are entering the music world, offering digital vinyl or digital pressing (as discussed in our article: DIGITAL VINYL VERSUS DIGITAL VINYL: A NEW CHAPTER OF MUSIC THANKS TO TECHNOLOGY? and NEW POSSIBILITIES FOR ARTISTS AND FANS. THE EXAMPLE OF THE DAGADANA BAND).

4. Virtual Concerts (and not only)

The COVID-19 pandemic revealed the challenges faced by artists when their traditional income sources suddenly vanished. Musicians then organized virtual concerts and sold tickets as NFTs, allowing fans to participate in exclusive events dedicated to them. Additionally, they received a digital NFT ticket as a keepsake

5. Community Interaction

Artists and musicians can create NFTs that grant access to unique interactions with their communities, such as private chats, video calls, or backstage meetings.

Summary

Web 3.0 and NFTs offer significant opportunities for musicians, bands, and their fans. It’s a revolutionary way to earn money from creativity and build stronger bonds with the audience. Unique experiences and exclusive works, with NFT ownership as the key, are becoming valuable assets in the digital world. It’s time to break down barriers and embrace the new era!