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Coop
@coopahtroopa.eth
@cooprecs is a bet that real music fans will buy tokens of the songs they love. Sharing some raw thoughts using the shiny new threads feature 🔽
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Coop
@coopahtroopa.eth
If you like a song, you buy it. If you don't like a song, you sell it. If you can't afford a song, you earn it. The value prop needs to be dead simple and immediately obvious as to why fans would want to support and how they can tangibly do it without knowing anything about crypto
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Coop
@coopahtroopa.eth
The way we were able to get 100+ artists onchain this year is by making it so easy and simple there's no reason not to do it. Send a song and a cover art, earn ETH. This is great for the artist, but no where near the same value offering for a current fan or collectors. Goal for this year is to focus more on earning opportunities that don't require capital to get skin in the game. Listen to a song on Spotify, make a video on Tiktok, etc. The more you can prove you played a role in the song's success - the more tokens you earn
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Coop
@coopahtroopa.eth
Coop Records is a crypto record label. What does this mean? It means that holders of the songs should share in the labels success and be a part of making decisions of what gets released on the label. The reality is not every song is meant to be a breakout record with milliions of streams and viral charts. However - if executed correctly - label owners and curators can play a direct role in making the songs have a higher likelihood of doing so and actually share in the success of the record when it does so. This means songcoins can now be used as skin in the game or stake in the larger label to better signal which records deserve more love, capital and energy and ensure that value is routed towards holders that are contributing the most time, capital and resources to their success.
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Coop
@coopahtroopa.eth
At the end of the day - everyone just wants their bags to have more attention. The biggest issue with crypto right now is that most holders are extremely insufferable and polarizing to average people. There is a very specific connotation and perception of a "crypto bro" and most of the time this holds true. Someone buys a token and immediately expects the world of it. This is very different from the cultural values of fans and people who have made a true connection and memory with a song and it's core value. The price is not the primary focus, buying it is an acknowledgement that it made a deep impact in someone's lives. This means that as a label we need to do a better job of making sure holders are filled more with true fans, way less with moonboys.
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Coop
@coopahtroopa.eth
And how do we do that? Well that's what we're trying to figure out. You can make the tech invisible - focus on account abstraction, give your first $5 of tokens for free etc etc. But ultimately it comes down to who's playing the game. As long as "attention" in its current form is limited to places like Warpcast and CT, there's a very clear ceiling in where these coins can go. That means the ONLY way this works is to bring new people into the equation that share a different set of believes and values around why these tokens have any merit in the first place. So - if you don't see our artists shilling their ticker, that's why. It's not about playing the existing set of crypto behaviors that already exist - it's about finding true fan behaviors and tying onchain rewards to those actions and making the real winners the true day one fans. Once that's the case - then artists will lean in because there's a real music connection there, not an expectation of 100x
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Coop
@coopahtroopa.eth
To summarize: We've launched two songcoins so far on cooprecs.fun - $IJN and $DAYS Each songcoin is a new opportunity for us to learn about what does and doesn't work and apply it to the wider intention of creating a market for every song in the world. If one thing is for sure - we've definitely entered a new chapter of onchain music. As someone that's been focusing on this intersection for the better half of the last 4 years I truly think we're closer than ever to building a product that can resonate with real fans and focus on what matters - the music. The music is the why. The crypto is the how. I feel very lucky and blessed to have any remote proximity to the records in our catalog that have played such an important role in my life. I know I'm speaking into the void at this point but trust me when I say we're going to keep fighting until we get this right and we won't stop until we've undeniably created a world where fans can win by supporting the artists and songs they love. Trust the process.
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