Forbes: how block technology will subvert the art economy


nnnIn addition to the financial industry, art is also one of the main areas of application of block chain technology, because the music and the arts industry is often monopolized by large companies, niche artists are difficult to obtain their own work through the reward, and block chain The centralization of the characteristics of the artist and the consumer can directly contact the elimination of middlemen, to better control the ownership of the work. In this paper, we discuss this problem and give a number of examples to prove the important subversion of block chain in this industry.n
nnTranslated by: Inan
nVan Gogh, Little Sami Davis, Ellen Poe and William Blake. Why should these artists in their respective areas shine together to discuss the artist? Because they are all penniless to die, when the community in the appreciation of the arts did not give the artist enough attention. Now, some start-up companies are stepping up to change this situation.n
nIn the case of small Sami Davis, he earned $ 50 million through the activities of the “Rat Pack” group, but was impoverished at the time of his death.n
nAlthough these artists have passed away, many of today’s artists have created excellent works of art like them, but their income as an artist has been poor.n
nThe reason for this is the plight of centralized sponsorship. In the 19th century, the rich barons and princes were art patrons who paid salaries to artists to enjoy their works.n
nIn the 21st century, sponsors became central companies, who employed artists to gain economic benefits. However, many of the best works of art do not create a profit for artists or propagandists because the company takes up most of the profits. Fans can be very shocked if you know how much money the artist has earned by controlling the business structure of his work.n
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nHow big is the art and music market?n
nThe European Art and Antiques Fair (TEFAF) is a 10-day event held in Maastricht, the Netherlands, in March, according to its art market report. The art market is $ 40 billion this year.n
nTEFAF’s survey has been found to be the world’s art market cost and trend of the Bible, so its statistics are credible, although this figure seems to have been very impressive, but compared with last year’s level of $ 60 billion or shrink Happening. According to Rachel Pownall, professor of art market and finance at the University of Maastricht, the report said that $ 20 billion this year was due to changes in the indicators used in the determination of the art market.n
nFrom the music industry, according to the International Music Industry Association (IFPI) released in April this year, “Global Music Report”, the global music market in 2016 turnover increased 5.9%, setting IFPI since 1997 to track the music market since the record high Then
nAmong them, with 11 billion users of paid streaming media total revenue reached 15.7 billion US dollars, an increase of 60.4%, the industry’s digital revenue accounted for 50% of its global revenue, has a lot of room for development. This report contains consolidated data for nearly 50 regions and is an indicator of industry status.n
nIn addition, the Statista website’s forecast for global music industry revenues between 2012 and 2015 and between 2016 and 2021 shows that revenues for the industry will grow from $ 45.5 billion in 2012 to more than $ 57 billion in 2021.n
nAlthough the music service market is growing, people think that today’s record companies, artist management companies and distribution services system greatly hampered the development of niche artists. Such artists can not sponsor negotiations with big brands, relying on direct “artist – fans” sales model.n
nCentralized streaming media platform revenue can account for 80% of the total revenue stream, which obviously has an impact on many niche artists. As a result, today’s artists are forced to rely on low-cost streaming media platforms, such as Spotify, paying only $ 0.0003 for each play. While well-known artists who rely on tours and sponsorship profitable do not care about it, the niche artists who only have thousands of fans live on these meager incomes.n
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nBlock chain artn
nSo let’s talk about block-chain technology – a system designed to decentralize centrally data management. This technology, which supports Bitcoin and other digital currencies, is now being used to help other industries achieve decentralization.n
nSince the block chain is a distributed book and is completely safe and transparent, the user can contact directly without the company’s centralized center. In short, management has been replaced by machines.n
nArt is one of the most important early use cases in this centrally new world. Artists who have had to rely on centrally large companies to disseminate their work are now able to do this in a centralized way, and are rewarded through their own creations, and there is no corporate profit. There are already some companies seeking to achieve this model, although the success can be another matter.n
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nProfit through internet contentn
nWildSpark is such an example. It is a new platform to the center, allowing users to share video, text and other content. The platform is the first application created by Synereo’s team to create a system where artists can upload and deliver content and reward those content. All of which do not require business participation.n
nThe system is based on block-chain technology and uses digital money called AMP. An AMP is currently worth about $ 0.23, which is used to reward content creators and distribute them to creators to download or share their content.n
nUsers can also use AMP as a way to reward creators, and creators can use this digital currency to attract users’ attention. Videos, articles or other content have the more AMP, the more attention. This is the logic of its operation.n
nThrough the use of such a system, attention to the market to appear. Content creators can upload, distribute, and promote their creations, and users (known as “curators” in WildSpark ecosystem terminology) can reward the creators they appreciate and profit as the content is accepted.n
nArtists are able to promote their latest works through any media and use the tokenization created by Synero’s AMP model to centralize the ecosystem directly and near real time.n
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nSynereo / WildSpark’s technical teamn
nIndustry maturen
nOther industries – from music to virtual reality (VR) in the field of entrepreneurs are eager. The need to use the de-centric system to disseminate artistic content is clear. Some companies are also using the block-chain system to develop exciting new ways to share other content.n
nThe Opus Foundation (Opus) has begun to offer a way for musicians to upload new music in their digital currency without having to pay like YouTube, Apple or Spotify.n
nAs a “center-to-center music sharing platform,” Opus claims to address the issue of music ownership and sharing by leveraging the fast Interplanetary FileSystem on the ethertop block.n
nUsers of this platform can download and enjoy music anywhere in the world because the block chain can achieve an absolutely secure ownership network. About 97% of the profits will be obtained directly by the artist himself, all in real time. It sounds so great, it is not really true.n
nThe company was founded by Mateusz Mach, a 20-year-old entrepreneur from Gdansk, Poland, who boarded the Forbes “30 30-year-old elite” list. The company has created a simple and efficient tool for artists and users. Their belief is that eliminating the centralized music platform will help bring more freedom for the artist, providing users with better openness and usability.n
nMach also started his first start-up company, launched its application “Five”, and raised $ 150,000 through his home venture capitalists. With this money, he wanted to develop Five into “the world’s first sign language communication software” to provide services for deaf people.n
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nOPUS Co-Founder and Chief Operating Officer: Mateusz Machn
nLikewise, Cappasity, located in Santa Clara, Calif., Also embraces the mission of “making 3D digital photography as simple as creating a system that enables artists to create 3D images that, through their content in a tedonic ecosystem Profit and share content.n
nAll of these examples have found that by using block-chain technology, artists and content creators can be rewarded for their work while encouraging others to explore.n
nThe chain-centric system provided by the block chain creates a platform to help artists profit. Its future application has infinite possibilities, the power of the block chain will subvert the sponsorship of the art economy, to help some industry participants to achieve its goals.n

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