Mainstream musicians pile into Web3 to revolutionize artist rights with blockchain
Several major mainstream artists have joined the advisory board of the KOR Protocol, a Web3 project aimed at transforming artist management and profit structures. Artists include Imogen Heap, deadmau5, Richie Hawtin, Disclosure, and Transmoderna. Despite the music industry's revenue growth to $28.6 billion in 2023, independent artists face challenges, with only 11% earning a living solely from music due to low payouts from streaming platforms and record labels. KOR Protocol seeks to disrupt this model through a decentralized platform utilizing blockchain and AI, promoting fair compensation, direct fan engagement, and transparent IP management. Heap advocates for decentralized digital assets and artist control over music metadata. Disclosure supports KOR's vision for transparent and collaborative music IP management. Inder Phull, creator of KOR Protocol, emphasizes the potential for new entertainment ecosystems under the guidance of these artists.
