The music industry has not shied away from its keenness to adopt Web3 solutions. From
Another example of a new system is a blockchain-based standard in which all parties involved in the creation and licensing would be presented with a single view of a recording or works.
This could help perpetuate effective payments or reporting of metadata usage. According to Raso, it will be a slow-rolling adoption of the innovation, but it can pick up steam from the industry’s fringes first.
“Indies play a huge role in this execution as they often (not always) have full control of their works and hence their works can lead this innovation.“
He continued to say that “whether it is an organization that is setting standards, like DDEX or a new entity, the standardization of metadata is a plus not only for platforms but ultimately artists and users.“
Both mainstream and niche artists in the music industry are slowly trickling into the Web3 space. While the legacy names in the music world might be more difficult to convince to change their methods, major players like Warner Music have already begun innovating.
Most recently, Mastercard announced its plans to launch a Web3 musician accelerator program with Polygon.
