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we are going to be talking about the music industry and how it will be disrupted by web3 blockchain technology I'll start off by introducing myself my name is Jared AKA bunsey uh I was a touring artist for about eight years and then naturally the music industry chews people up spits them out so I started developing working on several different things and yeah so experience with building software and web 3 and touring as a musician and next we got TK how's it going everybody my name is TK I'm a singer songwriter and producer based in Los Angeles California I've been in the music industry for the last 15 years now at this point um over the last year I got into web three primarily releasing music nfts sold over a thousand music nfts in the last year I'm also the founder of campfire what we're growing with campfire is the largest online community of music creatives that utilize web3 technology to improve conditions for musicians throughout the music industry so happy to be here thank you for having me hey everyone my name is Violetta um I'm a singer songwriter DJ sound healer I'm also building wave world with my other half in the audience Karma wave um and we have a music duo together Karma Violetta we've been experimenting in the web 3 space for a little over a year now releasing our music as nfts also part of campfire and a few other amazing communities of musicians like song Camp chaos excited to be here my name is Keely Haldeman I'm building DeQuincy it's a decentralized think licensing Marketplace sync licensing is licensing music for audio visual Productions TV film advertising audio visual nfts um I come from the traditional music industry started a music publishing company and record label also very focused on sync so Translating that into the web 3 world and excited to be here awesome so yeah incredible people the first topic we kind of want to talk about is how blockchain technology can change from TK an artist's standpoint to his fans where now nfts and these different types of Technologies they can connect in ways never before possible so TK how are you thinking about that with being an artist connecting with your fans and building a community an ecosystem around your art yeah I think in terms of building a community and building your fan base web 3 in general opens up a lot of opportunities for connecting with people that want to support you um you know in the music industry we have uh this Theory called a thousand true fans whereas in web 3 you really only need 102 fans 50 true fans ten to actually support you and through those fans you can actually build a real Financial vehicle um that as we're seeing now is giving artists creative and Financial Freedom like we've never seen before yeah I mean on that point right there the Thousand true fans to a hundred that is true because if you do have these people and they're you know like underground hip-hop and some of these other um styles of music people like to be early like oh I found this artist super early and now they're incentivized because they're like you're like OG holders you're you know your original people and you can thank them later and they have incentive now to share your music to put it out there because they're in this ride with you if you do well they do well and there's this whole new ecosystem from musician to Fan relationship but yeah would love to hear your take on this as well yeah I would say um so we're a fairly new artists and being a new artist it's hard to begin with and in web 2 it was even harder because I feel like we would have releases and we weren't getting like as much traction but in web 3 coming into this space really gave us so much hope as musicians creators artists um people actually like care about your music um people want to support you it's like this beautiful like camaraderie that's happening right now in the space where everyone all the artists musicians just want to like lift each other up support each other collect each other's music um you know go to each other's events and it's amazing because in web 2 I feel like it's more of like competition and in web 3 it's not as much right now yeah that's super true because going from the music industry Twitter sphere all your friends yeah they have support but when your release comes out no one's really sharing it or following but in web 3 people are like really active on Twitter really supportive retweeting so if you're a musician I would just recommend like start exploring that because web3 Twitter goes pretty hard but keately I just wanna I know you guys are working but you're a past artist and you're more on the you know the contract side now but let's hear it yeah I mean I got into the music industry from being an artist and making electronic music but that's not uh the context that I enter into web3 now uh so when you're licensing music for audio visual there it's very difficult rights are very tricky you get you need to know who are all the Publishers who are the songwriters who is the record label and even if you know them trying to actually get it licensed is a whole job in itself so there's an industry of online licensing companies where you can put in your credit card or maybe there's a subscription model um but they're all very uh the artists are not established because as soon as you become established or as soon as the catalog becomes more established they need more control and all of these online licensing platforms take the control from the creators the music creators so if I'm a music artist and I want to work with one of these platforms I have to submit my music and say please listen to my music and tell me yes or no if I'm allowed to work with you if they say yes then they set the fees for all the licensing they dictate who gets to use the music they take up to 70 percent as commission and they take up to six months to pay you so we envisioned an open two-sided decentralized marketplace where the music rights owners set their own fees have approval rights get paid instantly for very low transaction fees so that's what we're doing at DeQuincy and that's really enabled by web3 and we can't see it able to work another way yeah I mean I think logistically you know we can speak to it releasing music like splits royalties publishing Masters all this stuff it gets very confusing but you can think of when you meant some of this stuff it's all happening on the fly if you know streams royalties can be split from artists to wallet to wallet and this really revolutionizes the way that music will be released you know DeQuincy doing you know some Levee heavy like laying the groundwork there but what's also crazy is like it becomes a global CRM now like his fans I could be say airdrop them you know my single and cross promote in such a healthy way where before it was like everyone says music's not a zero-sum game but other artists don't always support other artists they want their incentive so it's really interesting collaborations now will always change you can now do things like that I guess when I hear what you guys thoughts what type of collaboration blockchain and music that you'll see emerge yeah I mean like you said I think we're streamlining what payments look like for artists when you are collaborating um traditionally in the music industry you release a song through a distributor you get some streams you wait three months to get paid and the money that you're getting paid is .003 per stream now um with blockchain technology we're getting paid immediately as people are interfacing with our art and so when it comes to collaboration if me and Violetta do a song together um let's say we're splitting whatever that song is if you stream our song I get paid immediately my 50 she gets paid immediately her 50 and that's all just because of everything being on a transparent level yeah and that's real I mean doing stuff like distro kid or dish or be like it takes three months sometimes and artists need to pay rent they need to do a lot of things and now with streaming like Spotify all those numbers are digital so I imagine a future where you know micro transactions are occurring for all the monetization streams but would love to hear your take on that as well yeah I would say also experiment like experiment experiment experiment in the space I know that's what we've we've done the past year or we try to release on on every platform as many platforms as we can just to like see like what's what's the deal with this one you know Zora sound XYZ glass XYZ lens now um catalog so and and your own projects like I know you know TK with the Eternal Garden like that was an epic project so like don't be afraid to do your own larger scale projects in the space um but yeah I would say experiment as much as you can because you're not gonna fail like people think like not selling out is if they don't sell out that's a failure but it's actually not a failure like you you just minting on the blockchain is already a win a huge win yeah I mean things will age pretty well especially in this time and I think especially if you keep grinding all your past mints are going to be special to someone I mean you you're not going to stop tomorrow and if this is really what you're doing you're releasing a lot of stuff you're creating a journey of like a road not a road map I don't like that word but like you know time stamps but I mean I would love to hear like DeQuincy when it comes to collaborations and how you guys are thinking about you know getting artists on your platform how are you guys going to go about that yeah for sure and before I answer that I you know you're talking about it takes three months to get paid from streaming that's if you're the artist if you're the songwriter it can take nine months if you're if it's foreign money it can take a year and a half two years because it has to go through the royalty societies and the royalty societies have to crunch the data and crunch the money and then pay through to different people so one of the great promises of of blockchain web3 technology is if every song was represented by a smart contract with the splits baked in and then all of the different sources even the traditional sources paid into those that smart contract system then people can get paid instantly um so that's you know it's it's a great vision it's something that we're helping to work toward you know we're doing our part on the licensing side so to answer your question how how do we get people to come on board and have collaboration um you know right now it's it's definitely Hands-On right like we're help we're finding visual artists and visual uh creators audio visual digital products metaverse content unchain games and all of that web3 media needs music and so we're out there talking with them networking with them we did a great project with with TK um uh with a with an augmented reality uh muze project that was very cool and you know there's there's a lot of it out there um that you know we're just helping to to bridge that Gap you know over time we want people to be using the platform um specifically we're going to build in communication tools so that the audio visual creators can directly talk with the artists so that artists can come on and if they have um joint works you know they're split between two three five ten people um that's baked in so people can get paid instantly so that's on our roadmap even though you don't like that word but yeah um also just to add like collaborations um there's a lot of communities and also protocols that are doing even like contests I know reveal is running a collaboration contest right now which is super cool you can win 5K um a 5k Grant just for a collaboration with one that goes back to experimenting like you're saying just go go mess around with some of this stuff and you know there's grants and stuff like that that I mean that's a really good point I mean another big thing is like publishing people sleep on music but audio is a huge part of any experience you go to see a movie you whatever metaverse we end up in or whatever but people sleep on that people need to get publishing and all these types of things but another box I want to open that's kind of crazy is ticketing where we start to think about musicians touring and now they can have an nft or some type of ecosystem to ticket sell tickets and if you have maybe went to the show prior half off I mean we see Ticketmaster and the Taylor Swift thing happen where there's secondaries for this too and those royalties could be going to the artist if they're secondary sales and if you're at that level and it could be interesting for artists to play smaller venues to open up this crazy secondary Market but like I don't know what are you guys thinking about ticketing for musicians yeah I'm a huge fan of on-chain ticketing when it comes to uh shows one platform that I love in particular is called chain pass and they keep all of the web 3 functionality under the hood so you interact with the platform the same way you would with a Ticketmaster or a dice but if you were to resell your ticket to somebody else the artist will get that percent royalty on every resale so you can imagine if you know Coachella for example was using something like chain pass how much money they would uh how much revenue they would generate every time someone sells they'll cut their Coachella ticket to somebody else and so I think that's going to do a lot of great things for artists but then also it allows fans that go to these shows to keep their tickets in their wallets like whenever I go to a concert I always try to keep my ticket as much as I can but it's like this dude something special that's a collectible at that point I I 100 agree like on-chin memorabilia yeah yeah like that person with all the wristbands are like hey but I mean yeah yeah so I'm also part of a group called Legacy and we're working on building an nft ticketing solution that part part of it is the ticket um but also part of it is like a a loyalty reward system and it's a way for the artist to be able to connect directly to the fans because you know if Ticketmaster's selling the tickets the artist doesn't know one by one who each of those artists are but in this scenario if you've got the the nft ticket you buy a beer you buy some merch you buy some other stuff interesting now that data gets fed to the artist and the artist team so now they know okay hey 50 of my fans like this beer that's then some serious data that they can go to get a brand sponsorship um from a specific beer company or or whatever like that's just one exactly that goes back to that concept of a global CRM where like everything is kind of helping and this is gonna go back to collaborations people being like well this person likes this artist but they also hold the nfts of this artist and the The Snowball Effect just starts to happen yeah as far as ticketing um just to add with wave world we did a cool experiment um which is our music nft Community a year ago at nft NYC we started this wave room experience which is uh the first token gated um intimate showcase so you could only enter if you own an nft from that artist TK was one of the artists that performed yeah and we had seven artists in the weight room and we filmed the whole thing and then we minted each performance on chain on glass XYZ with majority of it going back to the artist so that was super cool that's that's awesome and that kind of leads to the next thing of like um you know how musicians can start to use this token gating for example like you giving people experiences and say this gets into the hands of like a really mainstream artist think of the onboarding that could happen like once creating a wallet's not that big deal and people are it's more seamless like how Starbucks is rolling out their nft program with Odyssey imagine a Taylor Swift back to that example just because like imagine how many more people would be on boarded with a digital wallet and what can happen from that and yeah what do you guys think about music onboarding yeah I mean there's so many different ways I think when it comes to onboarding more fans like we talk a lot about how web 3 benefits artists but I'm a big fan of how web3 can benefit fans as well I think we're going to see a lot of music fans um creating careers out of just their curation and their taste in different um and different artists I mean obviously playlist curators no that's correct there's obviously like collecting music nfts and reselling them on a secondary Market um there's also like you said playlist curating where you can you know make a percentage of every stream that comes through your playlist that has music of your favorite artists there are some fans with some solid art a r ears that no they know what's up and they're catching artists early that's very interesting no for sure I'm also running this experiment called Pedal Power which is like social media yield farming where we're paying 30 uh different music fans of my own music fans crypto every day just to share one Tick Tock a day of me right so so um I think as we start to explore more of these revenue streams we'll find fans are equally benefited from supporting artists and web3 yeah and that kind of opens up gamifying releases right it's like hey if you help leave a review on iTunes or share this you know you get the bonus content too which is a very interesting healthy way for like that that Synergy to occur because most people love it but they don't take the time to Click Share and what that share does for an artist is probably more than them buying your music so I think encouraging that and gamifying with blockchain is super interesting yeah I love that idea of rewarding your fans and curators as well and just going off of what you said I know like lens and also sound now um for sharing the link to a song you can get a percentage just for sharing it if someone buys that music nft from the link that you shared like on your Twitter which is amazing like you get rewarded for curating and and then on top of that like rewarding your fans too I know like recently Jaden Violet um who's another artist in the space I was retweeting like a bunch of his his things and he just Ben wrote me like twenty dollars one day thank you so much for like your support for retweeting you know and I'm like now I'm even a bigger fan of him yeah and think about that if you had your dot ease and that artist it's so much like easier to send Ethan like venmo's like what's your number what's your handle it's like no that's such an interesting way and like to run giveaway and all that stuff but yeah we're at the two minute Mark any other topics that you guys are like buying at the the nails to get at I mean we could go all day on this right like I I I I think from my standpoint there's a lot of in the web three music culture about burning down the industry and you know rewriting it and setting up new I don't actually ascribe to that that school of thought um I think we need to create Bridges to the traditional industry I think the way that everything's set up um definitely favors the power Brokers and unless we uh put out the olive branch and say okay how can we join forces here I think we're going to keep getting resistant so that that's a big part of what what we're thinking about how we approach it yeah I agree I feel like you need to have as an artist you need to have both web 2 a web 2 strategy and a web 3 strategy now you can't just be like Oh I'm never gonna post again on Instagram or Tick Tock or you know you really have to have both so yeah I agree with what both of them are saying for sure um no most definitely so that's one thing I I definitely do is I take my kind of success in earnings in web 3 and leverage that for a more success in web 2 in order to bridge the gap between my web2 fans and my web3 fans so excited for the future of what we're building yeah I mean we're 2.5 right now we're you need to build on the backs of short like giants so but it's been a wonderful talk and thank you everyone that stuck around and listen thank you everyone there's a lot of other amazing speakers coming up so thank you