We know the full potential for web3 is to build platforms that are 100% transparent and owned by the community around them. Platforms that are open for anyone to join, have clear lines of demarcation as represented by a set of values. These platforms will be structured as DAOs or something equivalent. This is the full promise of Web3.
We exist to elevate amazing work and the artists who make it. The power of decentralized curation is it’s ability to reflect the collective intelligence of a community. This is in stark contrast to traditional media models, where a few determine what can be seen, heard, and consumed by the masses. That’s why we’re excited about the emergence of Web3 and projects like DAMN. One day, all media networks are likely to be built this way - not powered by algorithms for shareholders, but powered by humans for humans.
There’s a fight many artists must endure to be heard. Music discovery is controlled by an outdated system that’s not designed to showcase the many talented vocalists, musicians, producers, songwriters in the world. Many simply do not have access to the “music industry”. The idea that the internet and streaming has leveled that playing field is a common misconception. The same disparities exist today as they have throughout the last 100 years of music.
Digital currency and unique digital assets provide a way to harness the power of the internet and provides a path for artists that does not require they sign away their ownership rights or creative freedom. It does require them to face open markets, which can be daunting.
This pressure that many artists now feel in Web3 to market and promote their work is uncomfortable. It’s distracting. It’s draining and doesn’t feel natural because it’s not.
Economic incentives are typically not a core reason artist make art, so the promotional burden can be anxiety ridden. Artists are better served focusing on process and craft. Blockchain could be used to simply document their progress. The transaction costs associated with mainnet Ethereum prevent this, but their are alternatives.
For artists who ARE seeking to test the market, there are many talented curators standing by to deliver the promotional push artists may need. As we’ve said many times, the personal recommendation that curators are able to provide delivers precise benefit to both the talented artist and fans who seek them out. Word of mouth is still the king. Trusted voices speaking on an artist’s behalf carries weight and positively signals the market.
Personal recommendations also benefit the art consumer because the best art/artists are elevated above the noise. Any active seeker of what’s new and cool appreciates the time saving that comes with recommendations from trusted voices.
As it turns out, knowing what’s new and cool is valuable information to share. As we’ve all seen, blockchain technology highly skews rewards to early adopters of quality projects. This has been the case with Bitcoin, Ethereum, Cryptopunks, and Bored Apes, etc. This phenomenon also extends to individual artists, brands, and platforms of the highest quality. Early adopters win.
Phlote is creating new public infrastructure to support great work. We invite anyone to help us build into the future of human powered search and discovery.