Non-fungible tokens (NFTs) promise authenticated ownership for art and new revenue streams for artists.
based on Census Bureau data shows that US artists not only earn less than the average American, but have experienced a relative decline in their total earnings since 2009. Despite substantial funding for arts and cultural institutions, challenges for artists have only grown. “Although that might sound immaterial for people in non-arts sectors, it is gravely important: not only does the arts and culture sector constitute 4.
DAOs could facilitate micro-grants to artists and democratize funding applications and experiential arts learning. Living Opera is building the first arts entrepreneurship verifiable credential that will exist on the blockchain. DAOs and smart contracts enable a wave of innovation and mobility into certain states over others.
“DAOs are a vehicle that will drive idea in music, fintech and healthcare. Tennessee is winning whenever new DAOs are established in our state that help transform industries,” noted TN Representative Jason Powell. “I proposed the DAO legislation because I believe in democratizing the ability to participate in various ventures previously not open to most people. I am hopeful that more high-impact legislation will be passed as web3 initiatives evolve and transform the business landscape.
“We're increasingly seeing the need for innovative solutions that take opera into new digital spaces, while remaining anchored to our love of the art form. Nashville Opera's strategic plan challenges us to 'Sing bravely' in any context, and that includes the metaverse,” said John Hoomes Nashville Opera CEO.offers artists, agencies, labels, and publishing companies a solution to maximize how blockchains will impact artist careers and the overall industry.
“Engaging with and utilizing web3 should not require a computer science degree. Solo’s mission is to make this technology available to everyone for the benefit of creators everywhere. By enabling the use of emails, credit cards and handling all blockchain based features automatically for our users, we will allow for anyone to onboard themselves and start to build in the Web3 space,” said Barron Solomon Solo Music CEO. This functionality is not just for musicians, but for any content creator.
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