Web3

How Web3 will change your world

Web3, the digital evolution towards decentralisation and self ownership, is upon us. Tabler hears from the companies set to bring the power back to the people... Fairer music for the masses

Spotify is stuck in the Web2 age, and blockchain startup Soundoshi is plotting its downfall, with an ecosystem that rewards artists and fans by harnessing social media, NFTs and blockchain micro payments

The streaming age has opened up vast musical archives like never before. However, it has also spawned monstrous business models that favour big artists at the expense of not only smaller artists, but their fans too, says Soundoshi CEO Michal Scislowski, the man behind a Web3 music ecosystem that’s already leveraged deals with major rights-owners to bring true scalability. Soundoshi’s partnerships will give users access to more than a million tracks upon launch. Meanwhile, fanbases will get more intimate with artists than ever before, thanks to customisable fan pages and social options that, unlike the competition, harness Web3 technology. Soundoshi gives artists (or nominated third parties) full creative and commercial control of their tracks, bringing rights-models into the Web 3 Age.

The use of micro payment technology, Scislowski says, provides ‘the only truly democratic solution’ to creating a fair artist reward system. “The cost for the average fan (based on 500 streamed tracks per month) would also fall too, costing around £9 on Soundoshi, compared to Spotify’s £13.99. The BSV blockchain that silently underpins our platform is uniquely suited to this,” he adds. Heavy streamers, meanwhile, will be rewarded for their loyalty with exclusive NFTs and other perks, and there’s even opportunities for big spenders to legally buy a stake in an artist’s discography, and profit from it thereafter. Soundoshi’s monetisation plans don’t stop there. With Elon Musk already talking up the virtues of micro payments for paid-for ‘likes’, social media is set to become a growing revenue source for new and established artists alike.

By harnessing economies of scale, Soundoshi will offer artists full access to transparent social revenue via an API directly connected to the platform. But how does the Spotify model predominantly benefit the big artists, and how does Soundoshi revolutionise this? The devil is in the details. An emerging artist currently gets a small percentage from total streams. The problem with this payment structure is that, upon the release of a major album, total streaming numbers vastly increase, diluting the income pool for smaller, or emerging acts. Meanwhile, the administrative function – dictated by record labels – means artists often have to wait years before receiving a penny of this income. Micro payments are a revolutionary aspect of Soundoshi, allowing an artist to be reimbursed in seconds, and allowing instant payments for every track streamed. The overall amount that Soundoshi takes, meanwhile, is around 20% per stream: around 10% lower than Spotify. And Soundoshi’s payment per stream to each artist is on average said to be more than 330% more per artist than Spotify.

Fixing a broken model, of course, requires negotiation with centralised entities including PRS, ISRW, and ISCW to allow music to be registered and monetised. Soundoshi is finalising this process, and Scislowski says that unlocking access to these rights holders will create enormous, untapped market access for artists: “We’re bringing huge economies of scale and opening up markets in regions like Africa, South America and Central Asia,” says Scislowski. “Artists worldwide can use their old computers and smartphones to create intuitive personalised profiles and get their music out there. Through these White Label-

style touchpoints, fans can buy merchandise and fan experiences, helping monetise artist areas.”

He adds: “There are vast opportunities for local businesses like cafes and venues to host channels on Soundoshi too, creating AR backdrops where fans can watch their favourite band play in their local coffee shop. We’re going to be bringing the metaverse into music fans' lives like never before.”

www.soundoshi.com

Sign up for the closed beta on 15 September,and the open beta on 15 October, with the final product set to launch Q1 2023.

Time is money

Whatever your profession, the chances are you have advice and guidance that others are willing to pay for. Enter micropayment technology, and a handy new Web3 game changer, +App.

The way we approach work has drastically changed. Covid, and the realisation that we’re more connected than ever, has prompted a revolution in remote working. For the Web3 age, however, things are set to go a step further.

+App allows users to glean advice from experts on demand, connecting you to a global support base of professionals who can solve whatever quandary you or your business is facing. The technology also allows previously unreachable professionals to monetise their time – whether that be for a short phone call, or a video chat to discuss marketing strategies. +App is also set to open up a market for health and mental health workers, breaking down barriers for psychiatrists and motivational and wellness professionals alike. Lending a helping hand to the world, rather than just a narrow network, is sure to boost your business, and with instant payments for your time available in a range of crypto and fiat currencies, it’s a truly future proofed solution.

Download the beta app now in iOS Test Flight or Android by registering at www.plusapp.pro

Opening the Pickle jar

Ex-firefighter Dunja Rombouts’ start-up business, Pickle, is using blockchain’s transparency, accreditation, security and micropayment functionalities to provide a vital second income opportunity to millions

If you’ve ever required an emergency tradesperson, you’ll understand the value of a network of trustworthy, competent individuals ready to get you out of a pickle at the drop of a hat. dedicated to bringing customers the reassurance that goes with having registered firefighters tend to your various mishaps: whether that be locking yourself out of your home, finding a leaking pipe or discovering a wasps nest in your back garden. There’s also an ethical reason to choose Pickle. The service (which is currently working with various unions and local authorities) was set up to remedy the mental health crisis that plagues firefighters.

The profession suffers from a high suicide rate, down in part to the financial difficulties many face, with many saying they rely on a steady second income. The scheme will soon expand to include individuals from a variety of trusted professions seeking a second income, meaning Pickle is vying to become the ‘Uber for trusted tradespeople’. But how will Web3 technology improve this established industry? Firstly, blockchain remedies many of the obstacles that plague second-jobbers: ie transparent accounting, assured payments, and access to a ready made database of potential customers. Meanwhile, those booking an emergency callout benefit from the reassurance that the person being sent out has passed careful vetting and authentication, and is genuinely located nearby.

pickle.help

NFTs, but no monkey business

NFTs have been the preserve of a techsavvy elite, but Buzzmint are putting their creation and deployment in the hands of brand owners and passionate fans, helping demystify the technology and bring their benefits to the masses

NFTs - blockchain authenticated ownership of a bespoke digital item – is catching on. However, scrolling through notorious NFT marketplace Opensea to find NFTs to ‘flip’ for profit has given the digital token medium a bad name, not helped by the skyhigh charges that come with using the congested Ethereum network.

What’s more, NFTs have been lacking genuine utility, instead being synonymous with overhyped artwork, usually featuring garishly animated apes. Buzzmint is looking to change the Openseacentric culture of NFTs, allowing brand owners and individuals to create (‘mint’) bespoke NFTs using their intuitive platform, which provides a customisable ‘white label’ web store that plugs into existing websites, so consumers can buy direct from brands they know and love. The process is significantly cheaper too. By using the BSV blockchain, fees per transaction are mere pennies, in comparison to Ethereum, which can charge three figures at peak times. The tech underpinning Buzzmint, however, is designed so that the sophisticated blockchain technology is invisible to users, making the process simple for first-time consumers and veterans alike.

Creators can now provide NFTs with genuine value to fanbases, or use the platform to create secure tokens or tickets for uses defined by the user. With the NFT market set to grow 33% year on year, being an early adopter can reap that all-important brand kudos. The creative possibilities are endless. Comic brands, for example, can now publish limited edition versions of their back catalogues to collectors, while event creators can produce tickets with special functionalities – like access to limited edition music, VIP areas or artist interactions.

buzzmint.io