Just getting started in the wonderful world of Web3? Thankfully, we’re here to help. Each month, we’ll be bringing you 5 Web3 music projects that are shaping the future of the music industry. This month, we’re highlighting MODA DAO, Catalog, sound.xyz, Water & Music, and Zora. Keep reading to learn more about what they bring to the table.
Web3 Music Projects
MODA DAO is a decentralized autonomous organization (DAO) that bridges the gap between the music industry and the Web3 entertainment sector. Founded by MODA Foundation, it is primarily an open and inclusive music industry DAO. It connects thought leaders, musicians and technology enthusiasts that want to define the future of Web3 music ownership or Music3.
In addition to discussing all things music and Web3, members can share music catalogues, collaborate and even introduce new practices related to music distribution and licensing. Finally, the DAO’s mission is to eliminate the middlemen of traditional streaming services, and enable artists to connect with their fans in a more meaningful manner.
Catalog was launched in March 2021 and was the first Web3 music NFT marketplace to combine music creation, discovery, and exchange. In less than two months, Catalog managed to secure support from top-tier artists such as Boys Noize, Laxcity and oshi.
The most innovative thing about Catalog is that artists can set their own creator fees and NFT prices. In addition, fans can bid in any Ethereum-based cryptocurrency. Best of all, artists keep 100% of their first sale and are paid out whenever a bid is accepted on any platform, not just on Catalog.
Sound.xyz is a startup that combines Web3-native music and economic tools to empower artists. The artists on the sound.xyz platform can start listening parties, publish songs, sell NFTs as well as use splits – all by using sound.xyz’s array of tools.
The platform is designed for emerging artists. Its goal is to address the challenges emerging artists face, including getting more fans for these artists and paying them a reasonable amount.
Water & Music
Water & Music is an independent music business newsletter and research DAO. Its mission is to serve as a one-stop-shop that provides music industry professionals with information about the ever-changing industry and Web3 music projects.
Founded by Cherie Hu in late 2016, Water & Music is known for offering fresh perspectives on music, technology and the intersection between the two. Since launching its membership model in 2019, Water & Music has grown to over 1,500 paying members.
Songcamp describes itself as a “web3 laboratory experimenting at the edges of music and the new Internet.” The Songcamp team runs month-long cohort projects called camps. In a nutshell, these are one-half songwriting camps, and one-half web3 hackathons. The camps bring together new artists, producers, songwriters, as well as strategists from around the world. Together, they collaborate on new music, NFTs, Web3 music projects and artist strategies.