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@ SilentBerry
2024-07-10 16:59:26The advent of blockchain technology has brought disruptive changes across various industries, and its mass adoption in the music industry carries profound significance.
The decentralized and immutable nature of blockchain allows copyright information to be permanently recorded on the chain, ensuring clear and traceable ownership of rights. This effectively addresses the complexities of music copyright management, widespread copyright infringement, and the lack of transparency in revenue distribution. Through smart contracts, the distribution of music revenue can be automatically executed, with a transparent income distribution mechanism ensuring that artists receive their rightful earnings in a timely and fair manner, reducing middlemen’s cuts and infringement activities.
Blockchain technology supports decentralized music distribution platforms, enabling musicians to directly release their works to listeners, eliminating intermediaries. This direct contact not only reduces distribution costs but also enhances interaction opportunities between musicians and listeners, helping independent musicians gain more exposure and income. In a landscape where music distribution primarily relies on major record companies and streaming platforms, blockchain technology offers a new, fairer avenue for more independent musicians to showcase their work.
Blockchain technology enhances fan engagement and community building. By issuing music NFTs (non-fungible tokens) and fan tokens, fans can purchase, collect, and trade these tokens to support their favorite artists. This not only increases fan engagement but also establishes closer community relationships, further promoting interaction between artists and fans.
The circulation and appreciation of digital assets is another important aspect of the mass adoption of blockchain in the music industry. SilentBerry, through its innovative TTNFT (Tier Tune NFT) model, transforms music works into unique digital assets with scarcity and collectible value. TTNFTs use a tiered structure to offer different levels of participation according to the needs of different investors and fans. This design not only attracts a wide range of users but also increases market trading activity. Additionally, artists can set up a resale royalty mechanism, earning a portion of the proceeds each time a transaction occurs, encouraging more creators to join and promote TTNFT.
Smart contracts on the blockchain can automate and transparently manage royalty distribution processes. Each time a music work is used, the smart contract automatically calculates and distributes royalties, ensuring timely, fair, and transparent royalty distribution, reducing manual intervention and errors. This mechanism improves the efficiency and transparency of royalty management, addressing the cumbersome and opaque processes of traditional royalty management.
The mass adoption of blockchain in the music industry signifies the arrival of a fairer, more transparent, and efficient music ecosystem. This not only helps resolve many issues in the traditional music industry but also brings new opportunities and value to musicians, listeners, and all industry stakeholders. As blockchain technology continues to develop and become more widespread, the music industry is set to enter an era full of innovation and vitality. Efforts by platforms like SilentBerry are key drivers of this transformation.