3LAU calls for a critical rethinking of the music industry, shaped by the promise of blockchain technology.
The music entrepreneur and pioneering DJ came to X to share his forward-looking view on the impact of cryptocurrencies.
“There has been no better time than now,” he wrote, “to demonstrate the transformative potential of cryptocurrencies for the music industry… to benefit everyone who plays a role in it, with artists at center stage.” .
The conversation about the role of cryptocurrencies in music reaches a delicate moment. Bitcoin and other major cryptocurrencies are on a bull run, with Bitcoin recently crossing the $91,000 mark and altcoins like Ethereum and Solana posting similarly significant gains.
talking to EDM.com In July 2023, 3LAU explained that blockchain technology can address deep-rooted inefficiencies in the music industry. His goal is to foster a system where artists can retain greater ownership and visibility of their earnings, a vision he has consistently pursued since the launch of Royal.io, a platform at the forefront of the tokenized music industry.
“The music business has tons of areas of information asymmetry,” he said. “It's really impossible to think about solving that whole problem at once, but a starting point would be to show people something going on in the background that they don't know about.”
Regardless of macroeconomic conditions, 3LAU has remained steadfast in its support of cryptocurrencies and its latest comments highlight its continued belief in blockchain's ability to bring more fairness and transparency to music.
There has never been a better time than now…
to demonstrate the transformative potential of cryptocurrencies for the music industry…
to benefit everyone who plays a role in it, with the artists taking center stage!
-3LAU (@3LAU) November 11, 2024
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Spotify: spoti.fi/3hgZvgI
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