Current problems of web2 and web3 music space

Web2 is good, but not good enough

The web2 music industry suffers from a lot of issues such as

a) music itself having minimal value in digital format,

b) centralized streaming platforms controlling which music that will be featured and listened to by audiences, and

c) musicians having very little say in deciding what music to put on the market.

The final issue is that none of the streaming platforms out there is ready for the Web3 era.

Many music creators have tried to utilize NFTs as the ways to solve above problems, however, new problems emerge such as :

a) the bluechip pfp model (creating hype and IP/characters model) does not apply on music NFTs at all

b) very little incentive for non-core fans NFT collectors

c) lack of perspective of increasing listeners base