{"id":10672,"date":"2022-03-22T22:26:30","date_gmt":"2022-03-22T22:26:30","guid":{"rendered":"http:\/\/TheNextWeb=1382914"},"modified":"2022-03-22T22:26:30","modified_gmt":"2022-03-22T22:26:30","slug":"snoops-nft-plans-showcase-benefits-for-musicians-%e2%81%a0-and-risks-for-fans","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=10672","title":{"rendered":"Snoop\u2019s NFT plans showcase benefits for musicians \u2060\u2014 and risks for fans"},"content":{"rendered":"\n<div><img decoding=\"async\" src=\"https:\/\/img-cdn.tnwcdn.com\/image\/hardfork?filter_last=1&amp;fit=1280%2C640&amp;url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2022%2F03%2FUntitled-design-1-10.jpg&amp;signature=93c2fbd969bcfa55515e2e70917021ce\" class=\"ff-og-image-inserted\"><\/div>\n<p class=\"p1\"><span class=\"s1\">When Snoop Dogg announced his acquisition of Death Row Records last month, fans were thrilled that the legendary rap label was being resurrected.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">We were less thrilled when, weeks later, most of the Death Row catalog disappeared from streaming platforms.<\/span><\/p>\n<p><span class=\"s1\">The sudden removals were <a href=\"https:\/\/futurism.com\/the-byte\/snoop-fans-hate-nfts\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">swiftly linked<\/a> to Snoop\u2019s unusual plans for the brand.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cDeath Row will be an <a href=\"https:\/\/thenextweb.com\/topic\/nft\" target=\"_blank\" rel=\"noopener noreferrer\">NFT<\/a> label,\u201d the Doggfather <a href=\"https:\/\/www.youtube.com\/watch?v=BoELGzKbzXw&amp;feature=emb_title\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">announced in February<\/a>.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cWe will be putting out artists through the metaverse\u2026 Just like we broke the industry when we was the first independent to be major, I want to be the first major in the <a href=\"https:\/\/thenextweb.com\/topic\/metaverse\" target=\"_blank\" rel=\"noopener noreferrer\">metaverse<\/a>.\u201d<\/span><\/p>\n<figure>\n<p> <iframe srcdoc=\"\n\n<style>*{padding:0;margin:0;overflow:hidden}html,body{background:#000;height:100%}img{position:absolute;top:0;left:0;width:100%;height:100%;object-fit:cover;transition:opacity .1s cubic-bezier(0.4,0,1,1)}a:hover img+img{opacity:1!important}<\/style>\n<p><a href='https:\/\/www.youtube.com\/embed\/BoELGzKbzXw?feature=oembed&amp;autoplay=1&amp;mute=1&amp;modestbranding=1&amp;iv_load_policy=3&amp;theme=light&amp;playsinline=1'><img src='https:\/\/img.youtube.com\/vi\/BoELGzKbzXw\/hqdefault.jpg'><img src='https:\/\/cdn0.tnwcdn.com\/wp-content\/themes\/cyberdelia\/assets\/img\/ytplaybtn.png' style='top: 50%;left:50%;width:68px;height:48px;transform:translate3d(-50%,-50%,0)'><img src='https:\/\/cdn0.tnwcdn.com\/wp-content\/themes\/cyberdelia\/assets\/img\/ytplaybtn-hover.png' style='top: 50%;left:50%;width:68px;height:48px;opacity:0;transform:translate3d(-50%,-50%,0)'><\/a>&#8221; height=&#8221;240&#8243; width=&#8221;320&#8243; allow=&#8221;accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture&#8221; allowfullscreen frameborder=&#8221;0&#8243;>[embedded content]<\/iframe> <\/p>\n<\/figure>\n<p> <!--resp-video-container--><\/p>\n<p>The first trial of the experiment was Snoop\u2019s 20th studio album,<span class=\"s1\"> <em>BODR (Bacc on Death Row)<\/em>.<\/span><\/p>\n<p>The LP was made available in a limited edition NFT version, which offered three exclusive bonus tracks and a range of exclusive bonuses. Each of the 25,000 copies cost a cool $5,000.<span class=\"s1\"><\/span><\/p>\n<p><span class=\"s1\">\u201cIf anything is constant, it\u2019s that the music industry will always be changing,\u201d Snoop said in a statement. <\/span><\/p>\n<p><span class=\"s1\">\u201c<a href=\"https:\/\/thenextweb.com\/topic\/blockchain\" target=\"_blank\" rel=\"noopener noreferrer\">Blockchain<\/a> tech has the power to change everything again and tip the table in favor of the artists and the fans, and we\u2019re going to be right at the front of the pack.\u201d<\/span><\/p>\n<p>The benefits for Snoop soon became clear: the NFT sale<span><a href=\"https:\/\/www.musicbusinessworldwide.com\/snoop-dogg-sells-over-44m-worth-of-stash-box-nfts-in-just-five-days123\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> reportedly generated over $45M<\/a> within five days of the drop.<\/span><\/p>\n<figure class=\"post-image post-mediaBleed aligncenter\"><video class=\"gifsnomore wp-image-1382998 \" autoplay loop muted><source type=\"video\/mp4\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2022\/03\/Snoop-GIF.mp4\"><\/video><figcaption><a href=\"https:\/\/thenextweb.com\/news\/snoop-dogg-death-row-nft-music-projects-showcase-promise-and-perils#\" data-url=\"https:\/\/twitter.com\/intent\/tweet?url=https%3A%2F%2Feditorial.thenextweb.com%2Fhardfork%2F2022%2F03%2F22%2Fsnoop-dogg-death-row-nft-music-projects-showcase-promise-and-perils%2F&amp;via=thenextweb&amp;related=thenextweb&amp;text=Check out this picture on: The BODR \u201cStash Box\u201d NFT comes with perks such as images, comics, films, and concert attendance opportunities.\" data-title=\"Share The BODR \u201cStash Box\u201d NFT comes with perks such as images, comics, films, and concert attendance opportunities. on Twitter\" data-width=\"685\" data-height=\"500\" class=\"post-image-share popitup\" title=\"Share The BODR \u201cStash Box\u201d NFT comes with perks such as images, comics, films, and concert attendance opportunities. on Twitter\"><i class=\"icon icon--inline icon--twitter--dark\"><\/i><\/a>The BODR \u201cStash Box\u201d NFT comes with perks such as images, comics, films, and concert attendance opportunities.<\/figcaption><\/figure>\n<p><span class=\"s1\">A day after the Death Row classics were pulled from streaming services, Snoop released another NFT project: the <\/span><span class=\"s1\"><em>Death Row Mixtape Vol. 1<\/em>.<\/span><\/p>\n<p><span class=\"s1\">The 1,000 editions sold out within an hour. You can still listen to the tracks <a href=\"https:\/\/opensea.io\/collection\/snooponsound\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">on OpenSea<\/a>, but the platform provides a pretty awful user experience.<\/span><\/p>\n<h2>Wooing musicians<\/h2>\n<p>Snoop is perhaps the most prominent web3 proponent in the music industry, but he\u2019s not the only artist to have cashed in on the craze.<\/p>\n<p><span class=\"s1\">Grimes sold almost $6m in NFTs in just 20 minutes last year, while <\/span><a href=\"https:\/\/decrypt.co\/92938\/steve-aokimore-money-nfts-decade-music\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Steve Aoki estimates<\/a> he\u2019s made more money from the tokens&nbsp;than from a decade of album advances.<\/p>\n<p>These earnings are particularly alluring in the Spotify era. <span>Most featured artists earn <a href=\"https:\/\/musiciansunion.org.uk\/news\/calling-on-the-pm-to-put-the-value-of-music-back-in-the-hands-of-music-makers%E2%80%9D#:~:text=Songwriters%20earn%2050%25%20of%20radio,fair%20treatment%20of%20music%20makers.\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">tiny fractions of 1 cent per stream<\/a>, while session musicians receive nothing at all.<\/span><\/p>\n<p>NFTs enable them to bypass streaming services, alongside other pricey intermediaries such as major labels.<\/p>\n<p class=\"p1\"><span class=\"s1\">\u200b\u200b\u201dNow artists are able to create content, track it, monetize it, and sell it directly to fans,\u201d Jeff Yasuda, the CEO&nbsp;of music licensing service <a href=\"https:\/\/www.feed.fm\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Feed.fm,<\/a> told TNW.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"13.240677966102\">\n<p lang=\"en\" dir=\"ltr\">It works like an auction; the value is determined by the bidders. At the end, one person gets the NFT. Think of it like like owning a 1 of a kind item in a game, or like \u201cowning\u201d an instagram post. It\u2019s a weird thing to own, yes, but:<br \/>(more)<\/p>\n<p>\u2014 Mike Shinoda (@mikeshinoda) <a href=\"https:\/\/twitter.com\/mikeshinoda\/status\/1358090977257246722?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">February 6, 2021<\/a><\/p>\n<\/blockquote>\n<p>The potential riches are an obvious attraction to rich and poor artists alike. The impact on consumers, however, appears more mixed.<\/p>\n<h2>Dividing fans<span class=\"s1\"><\/span><\/h2>\n<p>NFTs are sometimes described as a new model of <a href=\"https:\/\/en.wikipedia.org\/wiki\/Patronage\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">arts patronage<\/a>, in which the wealthy fund <span>creators<\/span> and the general public benefits.<\/p>\n<p>This promise can be realized when the music attached to an NFT is made available to all. Yet this often isn\u2019t the case.<\/p>\n<p>Sometimes the tracks are exclusively sold as costly, limited edition NFTs, which deprives many fans of the chance to hear them. This artificial scarcity could restrict the accessibility that\u2019s one of the internet\u2019s biggest benefits.<\/p>\n<p>Those who can afford the NFTs can receive a range of perks, from \u201cfree\u201d merchandise to concert tickets. <span class=\"s1\">But exclusivity, by definition, isn\u2019t for everyone.<\/span><\/p>\n<blockquote class=\"instagram-media\" data-instgrm-captioned data-instgrm-permalink=\"https:\/\/www.instagram.com\/p\/CbTy4ywMkCQ\/?utm_source=ig_embed&amp;utm_campaign=loading\" data-instgrm-version=\"14\" readability=\"-9.7808219178082\"><\/blockquote>\n<p>Snoop\u2019s early metaverse moves feel more reminiscent of a major label than an altruistic upstart; more like the realities of web2 than the promise of web3.<\/p>\n<p><span class=\"s1\">The project has also exposed the fragility of music streaming. Personally, I\u2019ve been forced<\/span>&nbsp;to spurn the metaverse for something more old-fashioned: my old Death Row CDs.<\/p>\n<p class=\"p1\"><em>We\u2019ve asked Death Row for further details on why the label\u2019s albums were removed from streaming services. We\u2019ll&nbsp;update this article if we receive a response. <\/em><\/p>\n<p> <a href=\"https:\/\/thenextweb.com\/news\/snoop-dogg-death-row-nft-music-projects-showcase-promise-and-perils\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When Snoop Dogg announced his acquisition of Death Row Records last month, fans were thrilled that the legendary rap label was being resurrected. We were less thrilled when, weeks later, most of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":10673,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/10672"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10672"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/10672\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/media\/10673"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}