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A few thoughts:
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"I think that one of the issues with "web3 music" / "music NFTs" to date is that they have offered little more to a user than they can get from either streaming or downloads; i.e. the product is largely the same. The counter to that view is that music NFTs have allowed for democratised investment in music as an additional value opportunity to artists & fans/collectors." That's right. At the moment, I don't see mNFTs in their current form providing value at an order of magnitude higher to consumers than streaming does. That said, we should think about how institutions will begin to adapt the technology and what role neume can play (ie. Warner x Polygon getting in the mix). I struggle to see my friends and their local scenes picking up on mNFTs soon — they have less patience than I do and are less technically apt. For example, bridging ETH to Zora to mint a mNFT is a pain. I tried to explain this to normie artists and it was like a deer in headlights. On the other hand, the bit about democratized investment is real. That's why my POV on Sound XYZ / Catalog is that I see them more as an on-chain crowdfunding mechanism than anything else, although I don't believe that they would acknowledge this themselves. I think that web3 is better suited for capital / governance than anything else. |
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Hey ya'll. I said in the last open office that I would spin up an open discussion for us to talk about future requirements of neume.
To kick things off, it's probably worth defining what neume is / can be. I think that this can be summarised as:
The second element is obviously important, but I think this discussion should focus on the first point. Specifically, what do we mean by "all activity related to onchain music"?
In this past wave of development, this has predominantly been focused on NFTs, 721s, and also 1155. There has also been a steady development of ERC20 "social tokens", though they have generally been less impactful really.
An important point of clarification needs to be made that, in my opinion, "all activity related to onchain music" does not specifically only mean tokens with metadata that links to music tracks. I define, for example, "Black Dave"'s community token and Sammy Arriaga's "Pixelated" PFP series in scope. Basically, anything to do with tokens that creators are experimenting with.
With that said, in terms of emerging trends that I think we should be considering while planning out future neume development, I think there are some key themes that we should be considering, and whether they will require any changes to neume architecture:
This is an incomplete list of the "known unknowns" in my head right now, but of course, the most important thing for neume in 12 months is very likely to not even be on that list.
It's super important that while we are building, we keep an eye on the future as well as the present to make sure that neume is serving its user-base well. This is of course no mean feat, but we can scale out efforts by taking up specific areas of interest to explore.
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