What does a 'Web3 record label' look like?
+ biggest stories in onchain music this week
gm music fans.
This week I’m inspired by independent record labels slowly bringing their catalog onchain, as well as native Web3 labels popping up.
We also put together a playlist of the best Latin music onchain with our friend Xcelencia. Check it out.
Ziggy Ziggy Season 3 is powered by Beatport.io.
🤫 The next big Beatport drop is coming, featuring a well-known electronic duo. That’s all I know! If you want to hear more, join the Beatport newsletter and you’ll get the info first 🤫
What does a Web3 record label look like?
Lots of people got excited when major labels were entering NFTs, but I think this is even more important…
Independent labels are bringing their catalog onchain.
In the past few months we’ve seen a string of smaller labels drop music:
Established NY label Pack Records dropped 12 songs on Sound.
Bitbird, Sable Valley and Good Society have dropped consistently this year.
Rap label Lucidhaus set up a custom website via Zora to make all its music available to collect.
NVAK Collective continues to drop new music through creative Web3 strategies.
On top of that, fully onchain labels are emerging.
Coop Records Music posted a retrospective of how they helped artists generate 125 ETH this year.
DJ and producer Dot just launched a Web3 label collective called Portal.
UK producer Sound of Fractures created Wild Awake.
We’re still in the early stages of figuring out what this all looks like but this is an important step forward.
Major label Web3 projects were exciting, but they were never really putting music onchain. They sold PFPs, “NFT access passes,” and used Web3 as a new marketing and monetisation angle. But it didn’t move the industry forward. No new deals, no direct-to-artist payments, or new distribution channels.
BUT … Indie labels putting their music onchain fundamentally moves the conversation forward. I think this will be an important trend to watch in the next few years.
Onchain music headlines
Web3 music … with no gas fees - Sound.xyz has enabled gasless uploads and withdrawals so artists can interact with Web3 without ever buying crypto or paying a gas fee. (Read more).
Own streaming royalties in Lil Peep track - Swedish music platform Anotherblock will release NFTs linked to Lil Peep’s “Hate Me,” granting holders a percentage of streaming royalties. (Read more).
Songcamp teases Camp 4 Collection - Songcamp is an artist collective behind Chaos Packs — one of the most important music drops of recent years. They’re back with a new project built around the concept of burning CDs. (Read more).
Fantasy Record Label? - Solana-based music project Vault has launched a fantasy record label app, now available to everyone. (Read more).
Zooming out: broader Web3 news we’re watching
Binance CEO steps down, pleads guilts, pays $4bn fine. (Read more).
Leading crypto news site Coindesk gets bought out. (Read more).
Van Gogh inspired NFTs sell for $2.7 million on Bitcoin. (Read more).
A new layer 2 Blast attracts $80 million TVL with controversial ‘native yield.’ (Read more).
NFT exchange Blur airdrop after Season 2 ends. (Read more).
Biggest drops of the week
Let’s start with two stunning visual drops on Zora. The first by film-maker Jah, including a soundtrack by Web3 icon Latasha.
The second a trailer by Cam Murdoch.
Noise DAO - Dot: Begin Again
The biggest DAO in music is back with another drop from its weekly compilation album series featuring Dot. The music is accompanied by a fantastic interview on the realities of being an independent musician.
Follow Noise and Dot on Spinamp.
Thanks for reading!
We believe a new generation of independent music will be born out of Web3 culture. Discover the best music here first. Follow us on Twitter where we share the best music every day.
Ziggy Ziggy Music Season 2 is supported by Beatport.io and Spinamp.
Disclaimers: We may own NFTs mentioned in this article, have previous or current contracts with companies mentioned and may earn referral income from links to music NFTs. This newsletter is purely informational and should not be considered financial advice. Nothing in this content should be considered a recommendation to buy a particular NFT, only an expression of our opinion.