These include big names such as Grimes and Steve Aoki. Indeed, some of the earliest NFTs were dropped by electronic music artists. This is because, according to Christian, “they’re much more prone to technology and to new tech adoption.” Focusing on community-buildingĪtlanticus Music’s current focus is on electronic music artists.
So it’s really bringing back music from the mainstream industry to more on the artistic side.” Some of the artists on Atlantic Music. “However, we introduce this different logic and say, let’s try to rarify what you’re doing because this has value as an artist. “There’s also the difficulty that we have with artists because they want to be heard, they want to be loved by the wider crowd,” he says. In addition to the financial benefits, Christian mentions that NFTs can make emerging artists heard in an otherwise oversaturated traditional music industry. So it’s just appealing to your fans, and collectors that are willing to own a piece of the artist,” explains Christian. In the back of their mind, they say, well, maybe I’m going to profit from this, but it’s not the primary motive. They want to own a piece of the artist, whether is it memorabilia or anything else. In addition, artists receive a percentage every time their music NFT is resold, which is revolutionary in itself. So even if an artist sells the original music NFT at a low price at the beginning there is a chance its price will increase with every resale. This is because, according to Christian, “they put back rarity on pieces that you’re selling.” Moreover, NFTs introduced a sustainable royalty scheme that cuts out intermediaries. According to Christian and the Atlanticus Music team, Web3 could be a viable, long-term alternative to traditional streaming. As a result, many artists were looking for alternative sources of income. The focus on the poor payouts of the streaming industry was intensified during the Covid-19 lockdowns, which prevented artists from making money on tour. Although it is a $13.4 billion industry, streaming giants like Spotify only pay artists between $0.003 and $0.005 per stream.Īrtists must therefore have millions of streams to make a living from streaming. Disrupting the streaming industryįrom early on, the Atlanticus Music team recognized that the current music industry is broken – especially when it comes to artist payments. The fact that this new project – which later developed into Atlanticus Music – mixed new technologies, the promise of NFTs and the entertainment industry interested Christian so much that he got on board. Then I came across Stefan and his friends who were coming from the music industry.” “When I bumped into blockchain technology, I said, well, there’s something interesting and worth developing here. “I’ve always been working on the edge of media trying to find new ways to do business and new media,” says Christian. As a result, this platform is the culmination of the various opportunities available for artists in Web3. It was co-built by tech, music and entertainment experts who all believe in the freedom of artists. In addition to being a music NFT marketplace, Atlanticus Music wants to bridge the gap between the music industry, artists and Web3. Atlanticus Music is a music NFT marketplace where artists and collectors can sell and buy exclusive and unreleased music. Quotes are condensed and edited for clarity. There, we discussed how Atlanticus Music is shifting the focus back to the artist, with a little help from blockchain technology. NFTevening caught up with Christian Riedi, Atlanticus Music’s CEO at NFC Lisbon. Fortunately, NFT music platforms like Atlanticus Music are working hard to disrupt the streaming industry and create a Web3 version that is more profitable to all artists. Atlanticus Music is establishing a blockchain fan clubĪlthough streaming is a billion-dollar industry, few artists manage to make a living from streaming payouts.
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