The NFT market is here to stay, ok?Sure, the initial explosion has leveled out, but now is when things are going to get interesting.This paradigm shift is a byproduct of the blockchain. It is revolutionizing art and music. NFT’s go beyond digital collectibles; they will have a huge impact on the live industry, ticketing, resales, content captures, merch, finance, and even music creation itself. A remarkable community is forming.As the stardust settles, everyone is trying to figure out how to make a proper industry out of the ether(eum). Clubhouse was the platform to be on in 2020, but a return to in-person connection is imminent. There is a want and need to be seen beyond the screen and to put our actual heads together. There are no sure-fire ways to market your drop, but some paths to success will emerge as clearer than others.Agencies are popping up and new marketplaces are taking shape. There are legendary collabs, law suits, platforms and fresh ideas. Content is coming out of the vaults and subcultures are materializing. Web3 reminds me of the Tweetups and Video 2.0 get-togethers we saw years ago; we need new community leaders IRL! I’m looking at art galleries, conferences, and innovative ways to put this new technology into practice. The more we adopt use cases for the blockchain, the more real it becomes!During SXSW 2017, I was on a panel at the ConsenSys house with Jesse Grushak (founder of UJO Music) and Matt Medved (Head of Blockchain & Dance Music at Billboard) to discuss music and the blockchain. The space has grown a lot since then, as have these guys’ perspectives. Both are launching very relevant businesses in the NFT realm. I don’t know anyone more on the pulse of this space than these two and their crews. So, I’m excited to link back up with them on Tuesday, July 27th at 5pm for a live panel discussion at BKLYN Commons. This prelude to Brooklyn Tech Week will also feature the founder of NFT.HipHop, Ed Young. The conversation is free but RSVP is required. This will be the first time I’ve seen many of you in quite a while, and with new Covid strains and variants rocking the world, it’s unclear how long we’ll have live events to attend.So don’t sleep! It will be a riveting convo and a chance to hear about some best-in-class NFT case studies from the insiders themselves.
BEATS
The Web3’s User-Friendliness Barrier for MusicSetting up a Decentralized Autonomous Organisation (DAO) is a clunky affair when compared to more centralized variants. But maybe that's the point?I was recently asked when DAOs will feel more like installing an app and there are definitely accessibility hurdles to be overcome for these organisations to become a common phenomenon in music. Here's my thoughts. (Music X Mirror)
YouTube, Emojam Partnership Lets Creators Reward Channel Members With Custom Sound-Enabled GIFs, EmojisEmojam, a company that makes GIFs and emojis with sound for use on various social media and messaging platforms, has officially teamed up with YouTube to provide creators with custom digital rewards for channel members. (Tube Filter)
Biggie Smalls Gets His Own Tall Boy Budweiser Can With New CollaborationThe Notorious B.I.G. has lived on through various posthumous albums and collaborations with brands that kept his legacy alive years after he was gunned down on March 9, 1997. On Wednesday (July 14), Budweiser announced their brand new collaboration with the Christopher Wallace Estate, “The Notorious B.I.G. Tall Boy Budweiser Cans.” (Hip Hop DX)
Digital Marketing Surged In 2020. BEN Says Brands Should Focus On These 3 Areas For The FutureDuring the first months of pandemic lockdowns, brands, marketing agencies, and digital influencers were told to prepare for a slowdown across all digital advertising sectors, and a subsequent decrease in revenue. But after an initial dip, digital advertising didn’t just recover–it flourished. (Tube Filter)
Horror YouTuber Colby Brock Teams With Influencer Record Label ‘Heard Well’ For First NFT LaunchColby Brock, who is one-half of the horror exploration YouTube channel Sam and Colby with best friend and co-creator Sam Golbach, is launching his very first NFT collection today in collaboration with influencer-curated music label Heard Well and talent management firm We Are Verified. (Tube Filter)
Over 66% of all Music Listening in the Us is Now of Catalog Records, Rather Than New ReleasesAccording to MRC Data‘s new mid-year report, the six months to end of June 2021 saw catalog music’s share of total album consumption in the US rise to 66.4% (whereby ‘catalog’ reflects anything released over 18 months before a consumer made a purchase and/or pressed play). (Music Business Worldwide)
Are We Witnessing The Death Of The Streaming Megahit?Despite millions more people playing music on streaming services each year, the industry’s biggest streaming hit at the mid-year point of 2021 is significantly smaller than its biggest streaming hit at the mid-year point of 2020, of 2019, and of 2018. (Music Business Worldwide)
Dutch Music Festival Linked to 1,000 New COVID CasesMore than 1,000 attendees of an outdoor music festival in the Dutch city of Utrecht have tested positive for COVID-19 since the event took place on the first weekend of July, CNBC reports, citing Dutch media and Utrecht’s regional heath board. (Pitchfork)
The Weeknd, Wassim ‘sal’ Slaiby And Craig Kallman Invest In Personalized Song Creation Firm, SongfinchAccording to Songfinch’s website, the platform lets you choose the style and mood of a song as well as share “stories and memories”, which one of the company’s curated artists use to create personalized lyrics. The company then promises to have a custom song written, recorded and delivered within three to seven days. A song costs $249. (Music Business Worldwide)
Virtual Concert Startup Flymachine Raises $21M with Backing From Coran Capshaw, Bill Silva And Marty DiamondUS-based virtual concerts startup Flymachine, which claims to deliver “a first-of-its-kind immersive social experience”, has raised $21 million in new funding. Angel investors joining the round include music-industry heavyweights like Red Light Management founder Coran Capshaw, manager and promoter Bill Silva, Wasserman Music Managing Executive Marty Diamond and Wasserman’s Larry Webman. (Music Business Worldwide)
Why Are Independent Artists and Labels Turning Away From Vinyl?Forgive the sound of a broken record: Vinyl’s comeback is still going strong. Streaming may be today’s dominant music format, but revenues from vinyl albums are on track to top a staggering $1 billion in 2021, up from $626 million last year. (Pitchfork)
BYTES
Jamal Henderson, CEO of The SpringHill Company, dives deep into the making of “Space Jam: A New Legacy”, brand partnerships & figuring out the musical aspect of the movie and how things have changed post pandemic in the entertainment world. Listen to the full podcast here.
An official music video for a track off of Pop Smoke’s second posthumous album, Faith, has arrived on the same day of the LP’s release. Out July 16, the visual for “Mr. Jones” featuring Future shares a montage of old clips of the rapper partying at the iconic Mr. Jones club in Miami.
Music app Breakr this week announced a $4.2 million seed round, led by Slow Ventures. The latest raise follows $700,000 in funding led by Andreessen Horowitz’s TxO fund –a round the people behind the service considered a sort of proof of concept as they worked to get the idea off the ground.
The record showcases IDK’s musical and personal maturation since his debut album, Is He Real, in 2019. There is of course the classic dance bangers, but a majority of the album finds the rapper reflecting on his experiences with fame, family life and the various obstacles and triumphs that have made him the person he is today.
This week's newsletter was carefully curated by the Nue Agency staff and our editor Rachel Meisner. If you think we missed something this week or have any suggestions/comments for next week's newsletter, let us know!