In many industries, the incentives aren’t aligned.

Some parts of the industry have adapted to the times and others are stuck in the past.

I can only speak to my experience and the music industry is a perfect example of this.

https://www.iq-mag.net/2024/05/germanys-melt-festival-to-close-after-27-years/

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I share my 10-year journey in live entertainment & as an entrepreneur, and why I believe that #web3 will reshape the experience economy of the future.

But the event organizer’s business model doesn’t support this sudden change. They’re now incurring more costs and artists are demanding more money. 

Which drastically decreases profits and even leads to many events making a loss.

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That’s why at @allaccessio we’re trying to solve this because the way things are working isn’t sustainable.

By using NFTs we can create a layered experience. Not only can it give like-minded people access to a community, but it can go deeper than that.

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Fans can get access to their favorite artists, be involved in the creative process of events or with artists, and be motivated to engage and promote with unique rewards that they actually value.

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It simply enhances the fan experience and our industry is one of many examples of where this applies.

Event organizers, can go straight to the source and try to get rid of the cash flow problems they’re facing.

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This can be done through preselling tickets and improved access to fans, fan feedback can help them build the right sets and book the right artists to ensure success, and they can offer perks that don’t necessarily cost them anything, but are priceless to fans.

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This level of connection and communication with a fan hasn’t been impossible until now and NFTs play a big role in that.

There are ways to change the industry and make it sustainable again.

If we don’t try new approaches soon, too many festivals will go out of business.

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It flipped it on its head.

Live shows used to be promotion for an album and that’s where the artist would make most of their money.

Now Spotify is the promotion and the live shows are where the money is.

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CEO of RealNifty.xyz, an NFT marketplace for physical and digital art. Founder of vinylchapters.com - the stories behind the music.
Host of /musicbusiness

Yes, it’s due to the rising cost of an artist which puts the ticket prices at an all-time high. But what all the promoters and event organizers need is data. 

With data available on-chain, organizers can know exactly how much an artist costs. Plus, they will know whether the artist can sell out the ticket rather than book the acts blindly.

Through web3, we can combat monopolistic practices from big conglomerates like Live Nation, Ticketmaster, etc, and reinvest in creating the experiences that fans truly desire.

Fans are the market, they should not pay more. Instead, they should be rewarded. That's what we are building at @allaccessio .

Live music is always an interesting one. Ticket prices are so expensive and have jumped in price considerably over the years. Lots of initiatives to combat this and glad there are people trying to solve the problem. However, too many solutions can segregate the market and make it fail.