Music | Web3
Beyond Streaming: Solana’s Vault Music & Polygon’s Formless.xyz Innovate to Empower Artists
Streaming services have made music more accessible than ever, yet controversies remain around creator compensation. Platforms and labels capture over 80% of streaming revenues while artists receive fractions of a penny per stream. This imbalance has sparked a movement towards decentralized distribution.
Across sectors — including publishing, software, fashion & consumer goods — the digitisation trend has tended towards creating alternatives that offer more equitable distribution of value (earlier in the value chain), not less.
E-books, direct-to-consumer digital tools/brands, and the open source software movement retract power from centralised platforms and intermediaries — redistributing the locus of control and ownership. Not so (far) in music.
Projects like Vault Music and Formless.xyz aim to change that by directly connecting artists and fans using blockchain technology. Vault Music, founded by FanDuel’s Nigel Eccles, wants to “turn true…
