In the evolving world of technology, musician Vérité has established a fan-centric method to using Web3 and music NFTs for community building. As many musicians struggle to sustain their career independently, digital developments like nonfungible tokens (NFTs) are providing fresh avenues for these artists to both reach out to their audience and monetize their talents. However, these innovations carry a degree of controversy and experimentation, making them somewhat niche in the mainstream.
Vérité, an accomplished independent musician, taps into these untapped potentials, leveraging her substantial following and vast streaming popularity to pioneer the use of NFTs. She embraces Web3 to create a dedicated community, while maximizing high-profile drops, fractionalizing song royalties via blockchain, and even offering NFTs to concertgoers.
Balancing the integration of Web3 into one’s career without alienating existing fans poses a significant challenge. Vérité believes that while it’s beneficial to diversify revenue streams and marketing strategies, artists should not rely too much on the hype circles, which ultimately might not prove to be sustainable.
Vérité voiced a sentiment echoed by many artists; Web3 is a double-edged sword. It can foster communities and engage fans, but it’s crucial not to restrict oneself to only these new tools and audiences. It’s essential to foresee potential saturation or failures in this newbie space, which would jeopardize artists’ earnings.
Moreover, Vérité values respectful interaction with fans and prioritizes their protective needs over monetization. When dealing with NFTs for the first time, she made it clear to her followers that she was merely experimenting and advised caution unless they were well educated about the cryptocurrency marketplace.
Despite the allure of blockchain technology, not everyone is impressed. Especially after high-profile crypto exchanges like FTX collapsed and even top-end NFT prices suffered massive drops, public interest waned. Hence, Vérité suggests musicians frame NFTs and Web3 as tools for a new market, rather than a necessary requirement.
In line with this, Vérité focuses on creating experiences with optional Web3 elements. Whether it’s a tech-enabled sweatshirt with embedded near-field communication chips providing exclusive content and unlocking authenticity NFTs, or the possibility of early access to music and backstage perks. She ensures her fans participate in new technologies out of curiosity and interest, not obligation.
In the broader view, interlinking the music industry with Web3 could revolutionize the relationship between artists and fans, by making it more transparent and direct. Yet, to genuinely achieve this, Vérité stresses the need to keep fans at the center and not exploit them for revenue. By following this approach, she has built an impactful presence in the Web3 space while maintaining her non-Web3 fan base.
Source: Cointelegraph
