Web3 Music

This article organizes the current Web3 music projects available on the market.


1.Gala Music 
Gala Music is a decentralized music platform built using blockchain technology, enabling artists to enhance control over their music and increase transparency in the industry, allowing fans to connect more closely with artists. Gala Music is a key component of the Gala ecosystem, alongside Gala Games and Gala Movies, forming the foundation of the Gala ecosystem. The $Music token has been issued, with a market cap of only 13 million USD.

2.Audius 
Audius is currently the largest and highest-valued Web3 music platform. It fosters an open ecosystem for music sharing, where all music can be listened to for free, and its API is open for third-party products to access music, offering a rich music resource with low barriers for users. The project launched its mainnet and $AUDIO token in October 2020, reaching a market cap of 5 billion USD at the peak of the last bull market, with a current market cap of around 200 million USD.

3.Pianity 
Pianity is a music NFT platform built on Arweave, aimed at bringing together music artists and their communities to create, sell, buy, and collect limited edition songs. Pianity not only regards music as a fine art but also provides services for artists to issue music NFTs, creating a new independent income source for artists. Pianity offers music NFT sales and auction services for artists and collectors. The ecosystem token has been designated as $PIA, which has not yet been issued.

4.Sound.XYZ 
Sound.XYZ is an NFT music exploration and streaming platform on the Ethereum chain, providing a convenient wallet function and NFT transaction pathway. The project has raised 20 million USD in Series A funding, with artists such as Snoop Dogg, DanielAllan, San Holo, Alexander23, and Vic Mensa joining. No token has been issued yet.

5.Royal 
Royal is an innovative music market on the Polygon chain, designed to allow fans and artists to co-invest in music and earn royalties, achieving shared ownership and growth. It has received 16 million USD in seed funding and 55 million USD in Series A funding from institutions like Coinbase and a16z, with artists such as 3LAU, JD Ross, TheChainsmokers, Nas, Kygo, and Logic joining. No token has been issued yet.

Discussion on the Development Direction of Web3 Music The application of Web3 technology in the music industry not only solves existing problems but also brings new directions for the industry’s development. Here are discussions in several key areas, each accompanied by specific examples for deeper understanding:

1. Combining AI Music with Web3 The combination of AI music composition technology and Web3’s decentralized and transparent characteristics can create new music experiences and business models. AI-generated music works can be managed and traded on Web3 platforms, providing new possibilities for personalized and intelligent music.
2. Combining MEME Culture with AI Music AI music technology can be combined with popular MEME culture to create highly attractive and viral music works. This combination can quickly become popular among young people, forming new music trends. AI can analyze popular internet trends and user preferences to generate music works that fit the current cultural context.
3. Combining DePIN with Music Using decentralized storage solutions can ensure the security and permanence of music data. Combined with decentralized computing platforms, AI music models can be efficiently inferred and processed. This technological combination helps reduce operational costs in the music industry while improving data processing efficiency and security.
4. Combining Music Creator Economy with Web3 Web3 platforms can provide music creators with more direct revenue channels and greater market control. Through decentralized markets, artists can sell their works directly to audiences without traditional music industry intermediaries. This will encourage more independent creation and diversify the music industry.
5. Combining NFTs with Music NFTs offer a unique way of owning and trading music creations. Artists can create limited edition works or exclusive experiences by issuing NFTs of their music works, providing unique collectible value for listeners. In the future, NFTs may become an important method for music creation and distribution, especially for independent artists and experimental music projects.
6. Combining Fan Economy with Web3 In the Web3 environment, fans can support their favorite musicians by purchasing the artist’s tokens or NFTs. This model not only strengthens the connection between fans and artists but also provides fans with opportunities to participate in music creation and promotion, forming an interactive music ecosystem.
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Conclusion: The Future of the Music Industry and the Integration with Web3 Through in-depth analysis of the music industry chain and its business models, as well as discussions on current industry pain points, we can clearly see that the music world is at an important turning point. The introduction of Web3 technology not only provides innovative solutions to existing problems but also indicates new directions for the future development of the music industry.

Blending Innovation with Tradition 
The core features of Web3 technology, such as decentralization, transparency, data security, and smart contracts, open new paths to solving long-standing industry issues like copyright management complexity and unfair revenue distribution.

The application of these technologies can not only enhance the overall efficiency of the industry but also protect the creative rights of artists, ensuring they receive fair compensation for their work.

Building a More Equitable Ecosystem 
In the Web3 music ecosystem, artists, creators, and consumers will have greater power and control. This new ecosystem helps break down monopolistic structures in the traditional industry, creating a more diverse and fair environment for artistic creation and sharing.
Artists will be able to establish direct connections with audiences, while consumers will have more opportunities to directly participate in music creation and promotion.

Launching New Business Models 
With the rise of NFTs, AI music, and decentralized platforms, the music industry’s business models are set to undergo revolutionary changes. These new models will not only increase artists’ income sources but also provide consumers with unprecedented music experiences and participation opportunities.
From the collectible value of NFTs to the innovative potential of AI music, Web3 injects new vitality into the music industry.

Looking Forward 
The future direction of the music industry is to adapt to the changes of the times, utilize intelligent technologies, innovate music products and services, improve music quality and efficiency, protect music copyrights and income, meet the diverse needs of music consumers, and achieve sustainable development of the music industry.

Although Web3 music is still in its early stages, its innovative models and solutions to traditional industry pain points are indispensable for any music company that wants to stand firm and continue to develop in the music industry. When all the conditions and foundations are perfected, the explosive development of the Web3 music track is foreseeable.