Greetings from Dcentralize HQ!

For those of you following our journey, you’ll know that we embarked on a mission to create the world’s first tokenized music festival. What started as a seed of an idea quickly blossomed into something much larger than we ever imagined. By early 2022, our project, initially dubbed LunaFest, had garnered widespread attention and the idea had transformed into an expansive suite of Web3 music services, including a creator and social media platform, NFT marketplace, music streaming services, and ticketing.

Despite our initial momentum, we faced a series of challenges in 2022. (Didn’t we all?!) The collapse of the Terra protocol led to an abrupt chain-agnostic rebrand, while a severe crypto bear market, fuelled by the collapse of some bad actors, made it difficult to secure key funding. Perfect-fit partners and potential investors had tightened their purse strings at just the wrong time.

In response, the Dcentralize team took a step back to assess and plan for the future. Despite the hurdles we faced, we celebrated some major successes, including forging key partnerships and hosting unforgettable events in the UK, Ibiza & Miami.

As a team, we remain optimistic about the future and our ability to deliver on our vision, but like everyone, we’ve had to adapt to the market conditions. As such, our timeline has shifted. In times like these, and as the saying goes, a bear market is a time for building…. and that is precisely what we are doing.

What started as an idea for a tokenized music festival has grown into something much more elaborate and comprehensive. We have to be realistic though — Rome wasn’t built in a day — and we have decided to take a more methodical, organic approach to building the Dcentralize ecosystem. We’re going to learn to walk before we can dance, you might say.

We are more convinced than ever that the future is all about Web3, the metaverse, and building deeper connections. We’re excited about the possibilities that lie ahead, including forging new partnerships with thought leaders and similarly-minded businesses in the space. There are some seriously talented teams out there building some very impressive tools and solutions. This space is as fascinating and inspirational as it ever has been!

We still have all the same rock-solid partnerships and collaborations in place, including our metaverse partner Passage who are building some truly impressive spaces for us and our community. This means we are still perfectly-positioned to deliver a Web3 music ecosystem that will enable artists and fans to connect in new and innovative ways.

While the Dcentralize music festival won’t be happening in its original form this year, we’re still committed to hosting a main event during 2023. In the meantime, our main focus for the next six months is working with our technology partners to develop and launch our new ‘DcentX’ platform — the first iteration of which will be released in the coming months with a select group of test cases. We’ll let you know more about this — and our events plans — in the coming weeks. These are exciting times!

Thank you for staying with us on this journey. We love you, and we look forward to shaping the future of music together in 2023 and beyond…