The State of Music NFTs | Austin Hurwitz @ One Big Idea | #136

Austin Hurwitz is the founder of One Big Idea media network (OBI) and has spent the previous 8 years in entertainment, helping launch Amazon Music and was responsible for the strategy and development of Venice Music’s Web3 and community divisions. In this episode we discuss the current business model for musicians, how streaming affected the music business, and how Web3 offers solutions to the problems that both artists and fans face due to the current music industry standards. 🎁 WEB3 ACADEMY PRO: 50% OFF LIFETIME ACCESS 🎁 : https://newsletter.w3academy.io/subscribe 🤝 HELP US GROW 🤝 Subscribe to the Web3 Academy Podcast 🔥SUBSCRIBE TO THE WEB3 ACADEMY NEWSLETTER 🔥: https://w3academy.io/?utm_source=anchor&utm_medium=audio 👥 JOIN OUR COMMUNITY ON DISCORD 👥: https://w3academy.io/web3-academy-membership/ 🐇 Go down the Web3 Rabbit hole with our FREE Web3 Foundations Course: https://w3academy.io/web3-rabbit-hole-course/?utm_source=anchor&utm_medium=audio Guiding entrepreneurs, businesses and creators into web3. Together we’re exploring how to use NFTs, Crypto and Web3 to create thriving communities and build sustainable business models. ✊ FOLLOW US ON SOCIAL! ✊ 👉 Web3 Academy Twitter: https://twitter.com/web3academy_ 👉 Web3 Academy TikTok: https://www.tiktok.com/@web3academy?lang=en 👉 Web3 Academy Instagram: https://www.instagram.com/web3academy_/ 👉 YouTube: https://www.youtube.com/c/Web3Academy 👉 Kyle Reidhead: https://twitter.com/KyleReidhead 👉 Jay Hamilton: https://twitter.com/jaybird_nft 🎙 GUEST INFO 🎙 Name: Austin Hurwitz Twitter: @austin_hurwitz Youtube: @onebigidea Website: https://onebigidea.xyz/ 🚀 SPONSORS 🚀 Unlock Protocol: NFT Ticketing is the Future. Learn How to Easily Create and Sell NFT Tickets for Your Next Event! ⏱ TIME POINTS ⏱ 0:00 - Intro 6:34 - What is the current business model for musicians? 14:20 - How streaming affected the music business. 22:55 - Will web3 solve these problems for musicians? 32:07 - What has lead to Sound XYZ’s success? 43:13 - What type of people are involved with music NFTs? 45:30 - What will be the web3 music business playbook? 53:31 - What was Art Basel like? 57:36 - Web3 predictions 1:00:10 - Where to find Austin/upcoming projects 1:01:58 - Speed round