Summary
Researchers at Korea University in Seoul conducted interviews with 16 Korean musical artists to gauge sentiments toward the use cases for blockchain in the music industry. The study reported mixed results, with artists seeing blockchain as a potential revenue generator but doubting its practical implementation. The artists believed that blockchain could improve their financial prospects and protect copyright but were skeptical of blockchain startups’ ability to challenge established music industry giants. In other news, MITH, backed by Warner Music Group, is developing a Web3 social engagement platform for musicians, and Modhaus raised $8 million for its K-pop fan engagement platform. Additionally, LimeWire launched a blockchain-enabled AI Music Studio. Jay Cassano, former CEO of Cointelegraph, launched 4Labs Digital, a Web3 marketing agency, to serve the industry’s storytelling and marketing needs.
Key Points
1. Researchers at Korea University conducted interviews with Korean musical artists to understand their views on blockchain in the music industry. While artists saw potential in blockchain for revenue generation and copyright protection, they doubted its practical implementation due to the dominance of established music industry players.
2. MITH, supported by Warner Music Group, is building a Web3 social engagement platform for musicians. Rapper Jack Harlow used MITH for ticketing during his recent tour, showcasing the platform’s potential.
3. Modhaus raised $8 million in a Series A round to develop its K-pop fan engagement platform, highlighting the growing interest in blockchain applications within the music industry.
4. LimeWire, known for its file-sharing service in the early 2000s, recently launched a blockchain-enabled AI Music Studio, further demonstrating the industry’s exploration of blockchain technology.
5. Jay Cassano, former CEO of Cointelegraph, launched 4Labs Digital, a Web3 marketing agency, to leverage his experience in the crypto industry and serve the storytelling and marketing needs of Web3 companies.
6. An Ordinal inscription was sold for 2.36 bitcoin, equivalent to $95,250, on art marketplace Sotheby’s, showcasing the growing interest in blockchain-based digital assets.
7. Amazon MGM studios is reportedly developing a movie titled “Razzlekhan” based on the story of a couple who stole billions from crypto exchange Bitfinex before being arrested in 2022, highlighting the increasing attention on crypto-related narratives in mainstream media.
8. Web3 mobile gaming studio Endless Clouds partnered with gaming layer-2 Immutable, with two exclusive game debuts planned on the Immutable zkEVM platform, demonstrating the integration of Web3 technology into the gaming industry.
9. NFT platform Droppp released Harry Potter Funko NFTs, further expanding the range of digital collectibles available in the NFT market.
(Note: The analysis provided has been written by an AI language model and is based on the given text. It should be read as a general overview and not as financial or investment advice.)