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Prominent artists including Imogen Heap and deadmau5 join KOR Protocol in shaking up the music industry, using blockchain to challenge streaming giants and put power back in artists’ hands.
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The Web3 music scene just got a little bigger after several major mainstream artists joined the advisory board of the KOR Protocol, an innovative Web3 project aiming to change how artists manage and profit from their work.
On Oct. 31 the network announced that Grammy-winning artist Imogen Heap, electronic music giants deadmau5 and Richie Hawtin, chart-topping duo Disclosure and the immersive multimedia collective Transmoderna have all joined forces as advisers for KOR Protocol.
The streaming dilemma
Despite the music industry’s steady revenue growth—up to $28.6 billion in 2023—independent artists, who make up a significant portion of the industry, still struggle to turn a profit.
A survey by Xposure Music reveals that only 11% of independent musicians earn a living solely from their music, with low payout rates and hefty cuts taken by streaming platforms and record labels being a major gripe from artists across genres.
KOR Protocol aims to disrupt this system by offering a decentralized platform powered by blockchain technology and artificial intelligence.
The protocol claims to empower artists by enabling fair compensation, fostering direct fan engagement, facilitating AI-powered interactive experiences and providing transparent IP management.
Moreover, this latest group of mainstream artists joining the board brings together visionaries who believe in a model where artists, rather than intermediaries, benefit directly from their work.
Related: AI can compose good music, but humanity still holds the creative baton
Star-studded support
One example of the visions brought to the protocol is Heap, who already has a long history of advocating for artists’ rights and innovative uses of technology.
Heap envisions a future where songs are decentralized digital assets, with detailed information available for public use and protection. Her initiatives, like Creative Passport, aim to ensure that artists maintain control over their music metadata, allowing them to generate new revenue opportunities.
For Heap, KOR Protocol aligns with this vision of transparency and fair compensation for artists, while creating new possibilities for community-driven engagement.
Disclosure, known for their innovative remixes, is quoted saying they believe KOR can “make the creation and management of music IP transparent, collaborative, and fair.”
Inder Phull, the creator of KOR Protocol, said “Under their expert guidance, KOR Protocol can provide the next generation of entertainment ecosystems for creators and fans alike.”
“This visionary team of artists are not only leaders in their fields but are passionate about creating new immersive experiences and fair compensation for artists.”
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This article first appeared at Cointelegraph.com News
