Welcome to Ric’s regular musings looking at the current music industry, its challenges and overall why and how Daft Springer’s web3 platform works so well for the independent music industry. Written by Daft Springer Chairman, Ric Yerbury.
I always enjoyed my late brother in law’s ability to adapt lyrics to his own world. He loved mackerel and loved Simple Minds. So far so clear? What you are asking is the miracle you are about to receive? Good question. To be honest it is already in the making. After a period of suitable scepticism and not a little scorn, I have landed full square into the decentralised world which just might be offering a kind of miracle to many.
I may not have promised you a miracle but I did promise an explanation for our change of name and natural pivot into the world of blockchain and crypto. Daft Springer represents part of that move. I have held that name for quite a while and serendipity has offered us the opportunity to bring it to the fore at last. We owned a springer spaniel who was at the same time daft and super smart. To push barriers you have to be prepared to offer up ideas and solutions that at first might seem a bit daft but prove to be super smart. Well anyway, I liked the name and so it seems, do others!
What of the future? In some ways the song remains the same, (Ed: see what you did there), Alex Pilkington and I have been committed to finding the best solution for funding the development and marketing of artists without giving away their copyrights for what amounts to massive debt. No need, so stop it now! In fairness, many in the industry are starting to move away from a very tired and somewhat tarnished model and exploring better ways to operate.
We have been wedded to a revenue share model we have developed over the past few years. Initially, this was within a label and management business before taking it into the tech world with the release of a Web 2 platform last year to make revenue share agreements in a matter of minutes under a subscription. As part of the move to Daft Springer, I am delighted to say that now anyone can access this service for free. So before we get on to the big question of funding take the opportunity to check out our revshare music contracts.
What I really love about the world of Web 3 and associated technologies is the sense of collaboration through open source and the use of channels like discord to share experiences and technology. To that end, we will be releasing our own NFT factory soon which we have developed in conjunction with Simpleweb, our wonderful tech partners over the past 2 years. A real community is building around shared plans and solutions which augurs well for the artists of the future. We would encourage you to register early to get details of when you can start minting those NFTs!
The NFT is very much one weapon in the artist’s armoury. Not always effective for the early stage acts which is why the next stage for Daft Springer is so exciting. As we delve deeper into the extraordinary flexibility and innovation available within the worlds of Web 3.0, blockchain and crypto, our next offering may just form part of that miracle where an artist can fund 100% of their development. However that is not for today, we are working away at this and look forward to telling you more about this soon.
So much happening and so much to tell you all about. To summarise perhaps I can grab a bit more from Simple Minds, “everything is possible in the game of life”.
Next time, “Money it’s a gas”. Until then keep looking out for those mackerels..
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