Web3 has become one of the hottest buzzwords in the music industry, with everyone from independent musicians to major label artists dropping nonfungible token (NFT) collections and throwing concerts in the metaverse. But for many, the actual use cases and potential of these technologies remain shrouded in mystery and confusion.
On May 6, Water & Music held its inaugural Wavelengths Summit, a one-day event bringing together musicians, industry executives, artist managers, researchers and technologists to explore the bleeding edge of music technology and democratize access to information. On the agenda were talks about blockchain-based communities, the growing influence of artificial intelligence on the music industry and the future of artist revenue streams.
Water & Music is a collaborative music technology research network founded in 2016 by writer Cherie Hu as a free newsletter. It has since evolved to encompass a paid membership structure, an extensive online collaboration network and in-person events. Its research often touches upon Web3 and how blockchain impacts the music industry.
“I think the music industry, in particular, has suffered from information silos,” Hu told Cointelegraph. “If you’re trying to figure out how fans interact with your music in a holistic way, it’s actually a huge challenge.” Enter Water & Music, which seeks to empower its community with the knowledge needed to thrive in the digital era.
Community
A central focus of both Water & Music as an organization and its Wavelengths Summit was building a sense of community. The event’s emphasis on the importance of community-building in music and Web3 was ever-present, from the topics chosen for discussion — including sessions titled “Music Community Building and Decentralization: Lessons from History” and “URL to IRL: Uniting Music Communities Online and Offline” — to the way the event itself was hosted and organized.
For instance, Hu opened the summit by laying out four ground rules for positive community-building: “Be kind and respectful,” “Stay critical, “No shilling,” and “Have fun!” She also announced that there would be no panels; instead, experts would facilitate conversations, with audience members encouraged to jump in at any point. Talks on the main stage were accompanied by a large screen displaying live comments and questions from audience members via an app called Slido.
~crowdsourcing~ data — so fascinating to see the wide range of…
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