The Evolution of Technology for ‘Art?’ Music IP Accelerator Builder [Builder’s Vibe — Track.1]
Introducing the story of builders making their mark across various industries via Web3 technology! 🧑🏻💻👩🏻💻 In the first part of All That Node’s Builder’s Vibe, we met Jang Gi-deok and Lee Hyunjae, builders from the ATIV team gaining attention for their music IP accelerator platform. They took us through the reasons behind integrating blockchain technology into the arts and the various changes anticipated in the music IP market, giving us a unique insight into this rapidly developing field.
So, what vibes do Web3 builders in the art industry carry? 👽
Q. Why leverage blockchain in the art industry?
A. (Gi-deok): The application of blockchain in music and the arts can be broadly categorized into two use cases:
- As a means for copyright investment and transactions
- As a means to activate the creator economy
First, there are platforms that utilize blockchain technology for copyright investment and trading. These platforms turn music and other forms of intangible intellectual property into tradable assets, playing a significant role in establishing an environment where creators can get funding to continue their work and investors can get a proper return on their investment.
Moreover, blockchain is used to activate the creator economy, allowing diverse individuals to generate value through content creation. Currently, many music creators earn revenue through limited platforms. However, building services based on blockchain technology can support music creators in generating more revenue by selling various forms of goods or individual listening rights. This contrasts with traditional Web2 platforms, which are often criticized for exploiting musicians in the name of convenience and affordability. While enjoying music through Web3 platforms may be relatively costly and inconvenient at the moment, we believe it will ultimately motivate users who respect and love music and art.
Q. What inspired ATIV to create a music-specific IP accelerator?
A. (Hyunjae): The birth of what is now ATIV was based on a new approach to music IP. Initially, the focus was on owning and trading music IP rights directly through NFTs. However, faced with challenging market conditions and practical limitations in strengthening the connection between artists and users, we began to look for a solution. After much consideration, we switched our business model to a BApp (Blockchain Application) with the current L2E (Listen to Earn) concept.
On October 27, in collaboration with the large NFT project Fidelion, ATIV released an OST. In addition to the songs used on Fidelion’s homepage, ATIV produced and released songs for Fidelion’s new blackmarket homepage. The first track, “Fidelian Wasteland,” was highly popular, and the second track, “The Market,” depicted a dystopian black market.
Through such collaborations, ATIV anticipates the following effects:
- Users can enjoy music from their NFT projects officially on music platforms.
- NFT projects can not only possess additional music using their own IP, but also expect revenue from that music.
- By owning music, ATIV can expect an increase in potential users using the service.
Q. Why did you choose Solana to build on?
A. (Gi-deok): In the process of building an entertainment platform, the choice of chain was less important than choosing which users to target. Many artists began community activities based on their work using various chains; among them, Solana was seen as home to a cohesive and strong community despite the downturn in the blockchain market.
Our team believed Solana to be a better fit as an environment targeting lightweight blockchain users rather than DeFi users. Solana’s fast processing speed in particular allowed immediate interaction with user activity, which is crucial for an entertainment-based platform.
Starting development on Solana in 2021 posed many challenges. Educational materials were scarce, and we had to grow accustomed to writing smart contracts in a new way, not using the familiar Ethereum Virtual Machine (EVM). However, the Solana developer community has since grown significantly, and the necessary development tools are in place, making it easier to build products.
Q. Any final words as a Web3 engineer?
A. (Gi-deok): Although it’s premature to call myself a Web3 engineer, I believe the reason I keep trying different things and looking for new opportunities is to find more possibilities in this market and industry.
I would like to offer one piece of advice to those thinking about joining this industry. Web3 involves building a web environment different from what we have known so far. What I felt in this market is that you can start by breaking the assumptions you’ve taken for granted. Reflecting on the potential pitfalls of current solutions — despite the fact that they work for now — could be the starting point into the Web3 ecosystem.
Currently, ATIV is running smoothly with the Solana endpoint provided by All That Node. Our team also won a grand prize at the ‘Blockchain Week in Busan 2023 (BWB 2023)’ demo day session, held in early November. We’re excited to see the energy generated by various builders striving for mass adoption of blockchain technology and the future they will bring.
- Interviewee: Jang Gi-deok (Co-founder, Product Lead) / Lee Hyunjae (CEO)
- Team: ATIV (Blockchain-based IP Management Company)
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Interviewed & Written by
Hyunjie Yu, Brand Marketer, DSRV Brand Marketing Team (Twitter @CathyYu220314)
Edited by
Domitille Colin, Brand Communications Manager (Twitter @domitille_marie)
Designed by
Heeyoung Moon, Brand Designer, DSRV Brand Marketing Team
