World's biggest k-pop boyband on the blockchain?

recapping the week in music

gm music fans,

Let’s jump right into all the biggest stories in music and web3 this week.

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BTS on the blockchain

BTS are undeniably one of the biggest boybands on the planet. At one point the K-Pop supergroup were worth an estimated $3.7bn a year through tours, merch and recorded music. Now some of their catalog is coming to the blockchain.

Next week you can own a small portion of streaming royalties from their track “We are Bulletproof: the Eternal” via web3 music platform Anotherblock which issues NFTs tied to streaming royalties. (Read more).

Full details are not available yet but a few disclaimers as always with releases on Anotherblock. The royalties are sold via a producers’ share of the ownership — the band themselves are not involved. The regulatory rules are also unclear around these types of NFTs — previous drops have been geo-blocked for US users due to lack of clarity.

Web3 x AI music

Last week DJ and producer 3LAU launched a new AI model enabling you to create your own music based on his sounds — and own the IP rights. Hundreds of users quickly made their own versions but one in particular caught my eye.

Jason Meinzer’s version sounds incredible and he minted it on Sound.xyz. It quickly sold out within an hour.

This is “web3” at its best in my opinion. Giving people IP rights and ownership allows music and content to multiply in new ways across different platforms. It creates co-operation not competition. You could easily add a vocal to this track, remix it and keep it growing to reach new audiences.

More music news

• Pitchfork lays off staff and gets integrated into GQ - Another blow for independent music media. (Read more).

• Universal Music’s Web3 band turns to Roblox - The Bored Ape supergroup KINGSHIP is experimenting with digital goods in Roblox UGC. (Read more).

• Showtime hits pause - Web3 music and social platform Showtime hits the pause button ahead of a new rebrand and product launch. (Read more).

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Zooming out: broader Web3 news we’re watching

• Base is the fastest-growing new chain - Coinbase’s BASE chain is leading the way for developer growth since launching in the summer. (Read more).

• Bitcoin ETFs see record volume after launching. (Read more).

• Solana art scene breakdown - NFTNow published a great breakdown of the art scene on Solana. (Read more).

• Gamestop pulls support for crypto - Gamestop shut down its NFT marketplace. (Read more).

• Azuki launches “collector status” - The points meta makes its way into NFTs with Azuki launching a leaderboard ranking collector status. (Read more).

• Pudgy Penguins hits 20 ETH - Pudgy Penguins has been the turnaround story of the NFT bear market. Many are starting to ask if Pudgy’s could flip Bored Apes.

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Biggest music drops of the week

Heno - I’m Tired of Being Hyper-Surveilled

Rapper Heno has always been a standout artists in web3. He constantly experiments with new ideas while championing social justice causes he believes in. The next phase of his project “I’m Tired of Being Surveilled” is now minting on Zora as an Art Visualizer Collection. (Read more).

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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.

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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.