Is the music industry's future on the blockchain?

Putting music royalties on-chain is skeuomorphic thinking and doesn't move the needle for artists. We don't need to make broken web2 business models more programmatic, efficient, or composable; we need new business models that support long-tail markets.

As an example, music is a really interesting area and we have a number of investments there, so I’ll mention Royal and Sound.xyz. What both of those websites do is they let musicians basically create NFTs and other new sorts of digital objects musicians can use. Think of the NFT as scarce digital album art that also gives you other perks, like behi... See more