Could Blockchain save the music industry?
This topic melds two of my favorite interests; music and blockchain. It's no secret the music industry has been dying a slow, painful death over the past 10-15 years. In my opinion, it's because of their draconian policies and failure to innovate. Instead of embracing the paradigm shift it was facing and evolving to grow, the music industry, as a whole, decided to fight the changes tooth and nail. Where they could have listened to their changing demographics and sought to engage it, they chose the litigious route and sued any and everyone that dared challenge them. This historic dynamic between Industry and Customer came to a blinding crescendo when sales plummeted, artist veered away from the corporate model and, forged a new path.
But, there is hope! A new wave of musicians and crypto entrepreneurs are forging a new path by incorporating crypto and the blockchain into their entertainment and performance models.There are at least 17 new companies incorporating blockchain technology into their business models and this could be the new wave of economic growth and stability the industry desperately needs.
Check out this article for a primer of what is happening:
https://builtin.com/blockchain/blockchain-music-Innovation-examples
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