The Cadence: Will U Care Bout NFTs When Clubs Reopen?
by Joshua Glazer & Chris Monaco
Last night, we hosted our second official Clubhouse talk with a deep dive into the NFT space.
Over the two hour convo, we learned about the amazing Techoptimist collective, who have gathered some great resources for artists interested in getting in the NFT game, and hipped us to this perfect framing for those who still don’t “get it.”
We were also joined by 3LAU, who summed things up even more succinctly when he said “Just buy art you like!”
And Joshua Eustis (Telefone Tel Aviv) who attested to several people from the “music middle class” who have started paying their rent with revenue from NFTs. That’s the crypto future we really want to see.
Watch this space for more Clubhouse announcement, and join the Club for notifications of future conversations.
*Club link only works for 10 people, so email us if you need help getting into the group.
TAKEAWAYS
The most salient statements from recent industry articles.
1. ‘THE DEATH OF THE ARTIST’? WHY BIG HIT AND BTS JUST RAISED THE ALARM ON THE RECORD INDUSTRY’S FUTURE.
While decentralized tech could be a boon for artists monetizing dedicated fans, AI simulacrum could pull the masses in the opposite direction.
Takeaway: In a dystopia with no need for real-life artists, the human pop music industry will naturally see its commercial impetus tip away from performers, and towards songwriting and production.
2. ASCAP Annual Report Reveals Revenue Increased 4% in 2020 to $1.3 Billion
Performance rights non-profit ASCAP released its annual report for 2020, noting a 28% increase in streaming and 8% increase in audio/visual dollars. This more than offset a 30% decrease in money from bars, clubs, concerts, hotels, etc. due to COVID.
Takeaway: In 2020, ASCAP executed not one but ten distributions to our members entirely remotely for the first time in ASCAP history.
3. Fabric Announces 48-Hour Opening Weekend
The legendary London club is now selling tickets on RA for its opening weekend, as well as Fridays and Saturdays throughout July, in anticipation of the UK government ending lockdown. No performers have been included in the event listings.
Takeaway: As with everything under covid, the opening date may change as we follow all government and scientific advice on when to and how to reopen.
