3LAU on How NFTs Will Disrupt the Entire Music Industry

Justin Blau — better known by his artist moniker, 3LAU — is a pioneer at the intersection of music and blockchain technology and perhaps one of the biggest proponents of music NFTs. With his Ultraviolet collection of 33 different NFTs netting him a reported $11.7 million in early 2021, 3LAU offered up a shining example of how NFTs have the power to disrupt the music industry, and has continued to help define the music NFT ecosystem through a multitude of endeavors, most notably his curated platform Royal. Through Royal, 3LAU has generated successful use cases of community ownership by giving artists the power to offer their holders a percentage of royalties from streaming services — which has incentivised musicians to create independent wealth on the blockchain while further democratizing the music industry. With influential collaboration with top talent like Nas, Diplo, and The Chainsmokers and backing from the likes of a16z and Paradigm, both 3LAU and Royal are establishing themselves as major players within the music NFT landscape.In this episode we cover:- What Royal is and how it functions- The broken economics of traditional streaming platforms- Web3 changing the fan experience- The intersection of major labels and Royal NFTs- How market forces changed to allow for companies to enter the NFT space- And moreTo listen to the audio version of this episode, go to http://smarturl.it/nftnowTo sign up for the nft now newsletter where we break down the NFT market into actionable insights each week, go to: https://www.nftnow.com To follow 3LAU on Twitter, go here: https://twitter.com/3LAUTo follow 3LAU on Instagram, go here: https://www.instagram.com/3lau/ Hosted on Acast. See acast.com/privacy for more information.