{"id":2755,"date":"2022-04-28T21:28:49","date_gmt":"2022-04-28T19:28:49","guid":{"rendered":"https:\/\/www.prysmradio.com\/en\/?p=2755"},"modified":"2023-08-28T22:50:19","modified_gmt":"2023-08-28T20:50:19","slug":"electronic-music-leads-nft-space-and-empowers-artists","status":"publish","type":"post","link":"https:\/\/www.prysmradio.com\/en\/2022\/04\/electronic-music-leads-nft-space-and-empowers-artists\/","title":{"rendered":"Electronic Music Leads NFT Space and Empowers Artists"},"content":{"rendered":"

International Music Summit\u00a0(IMS)<\/strong>, the leading platform for business, culture and education in global electronic music,\u00a0today presented the\u00a0Future Of Music: WEB3 & Metaverse Day\u00a0<\/strong>in partnership with\u00a0PIXELYNX, RCRDSHP, SENSORIUM, EQ EXCHANGE & CELO<\/strong>.<\/p>\n

The Metaverse & Web3 music universe has been dissected and discussed with a dedicated focus on the conversation of now, through panel discussions, presentations and a beginner’s guide clinic, IMS Ibiza Summit have provided delegates with a comprehensive understanding of how to navigate and harness opportunities of Web3 and the metaverse, from NFTs to DAOs to monetization.<\/p>\n

The metaverse is a new canvas for artists to express themselves and create new formats to connect with their fans, a place to reconfigure the rules of society and create financial freedom – through collaboration rather than competition – Pixelynx CEO Inder Phull<\/p><\/blockquote>\n

With some of the brightest minds in the Web3 space attending IMS Ibiza Summit main stage, PIXELYNX delivered a seven-hour programme featuring guest speakers representing\u00a0Audius, Coachella, EQ Exchange, Friends With Benefits, MODA DAO, The Sandbox, Serenade, Seven20, Volta-XR<\/strong>, and more. Additional perspectives coming from artists including\u00a0deadmau5, Richie Hawtin, Blond:ish,\u00a0<\/strong>and\u00a0Portrait XO<\/strong>.<\/p>\n

With a major overriding theme emerging on how these new technologies will cut out the traditional intermediaries in the music industry between artists and fans, whether that\u2019s centralised streaming services or record labels.<\/p>\n

Web3 to me screams liberation from the societal norms that we know, a flag bearer for transparency for artists. I don\u2019t have to be bummed out that a huge tech company is making billions and paying artists a tiny fraction for their music. Deadmau5<\/p><\/blockquote>\n

Further themes to emerge linking back to findings in the\u00a0IMS Ibiza Business Report 2022<\/strong>. The revenues from the music industry are currently dwarfed by the gaming biz. Technology like NFTs and the metaverse could be the way to bridge that gap.<\/p>\n

\u201cWe can use a game engine to build a 3D spatial world from the elements of a festival,\u201d says\u00a0Experience Volta\u2019s Alex Kane.\u00a0<\/strong>\u2018We walked the team from Fortnite through this year\u2019s Coachella to explore how to recreate the experience in a virtual world\u2019\u00a0Sam Schoonover (Coachella).<\/strong><\/p>\n

The day also came with a cautionary warning, as with any new technology, there are challenges and you will need to have your wits about you.\u201cArtists should look for people with good reputations and credibility in this gold rush<\/em>\u201d says blockchain expert\u00a0Ian Watt<\/strong>. \u2018Do some research, but the sector remains unregulated and with few universal standards, not just for sustainability but across the board<\/em>\u2019<\/p>\n

With Canadian producer\u00a0Blond:ish<\/strong>\u00a0also continuing on the pressure of delivering benefits to fans \u2018Mental health is a big thing in the NFT world. Token holders expect a lot from you. It can be a lot of pressure. there\u2019s still only 24 hours in the day<\/em>\u201d.<\/p>\n

Experts also aided patrons in creating a crypto wallet to help them register to receive a\u00a0PIXELYNX POAP<\/strong>. A POAP (Proof Of Attendance Protocol) is a digital badge earned through engagement. A POAP represents a different kind of NFT, as these badges can only be earned by attending an event or purchased later in the secondary market.<\/p>\n","protected":false},"excerpt":{"rendered":"

IMS Ibiza 2022 Web3 & Metaverse Day – Electronic Music is the soundtrack to web3.0 (Pixelynx CEO Inder Phull)<\/p>\n","protected":false},"author":1,"featured_media":2756,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1020],"tags":[211,213,224,335,764,780,788],"class_list":["post-2755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-ims","tag-deadmau5","tag-ibiza","tag-blondish","tag-business","tag-metaverse","tag-inder-phull"],"yoast_head":"\nElectronic Music Leads NFT Space and Empowers Artists - Prysm UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.prysmradio.com\/en\/2022\/04\/electronic-music-leads-nft-space-and-empowers-artists\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Electronic Music Leads NFT Space and Empowers Artists - 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