This tweet is interesting.
Today there are over 8 million musicians on streaming services, yet less than 15,000 musicians (less that 0.2%) make more than $50K/year. That’s because the vast majority of the revenue is kept by the streaming services and music labels.
The majority of artist income flows to "music label & distribution service".
The music industry has the above problem. For example, as it stands, most artists use "Spotify" - Spotify is great, but what do you do if they suddenly announce that they are going to up their fees?
Artists have no choice.
Most artists have no choice because "Spotify = gatekeeper of artist" and they earn "commission income".
By replacing this with NFT, there is no intermediate "gatekeeper". I is called a "gatekeeper". Direct billing should increase artist income, which in turn can be returned to the fans. For example, "increase the budget for live shows, etc."
Almost people think "crypto = suspicious," but I believe that "Crypto = Technology to make the world peaceful".
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