Web3 Foundation, whose flagship project is Polkadot blockchain protocol, in collaboration with Polka Häus, curated by GUZZU, reveal key findings from the inaugural Web3 Music Summit organized by Primavera Pro. Running alongside the Madrid Primavera Sound music festival, guests spanning 11 nationalities, traveled from all over the world, to the Espacio Cultural Serrería Belga, with the support of the city hall of Madrid, on June 7 and 8, to learn about and embrace Web3 technology and its potential in the Music Industry.
The Web3 Music Summit was dedicated to exploring the transformative potential of web3 technologies within the music industry. The summit brought together industry experts, artists, and technology enthusiasts to discuss the latest trends, success stories, and the future of music in the decentralized digital era. Some key takeaways from the event:
- Data ownership through decentralized technology is a valuable asset for creators in the music industry.
- DAOs are a tangible reality, empowering artists and organizations and becoming a real transformative power in the Music Industry.
- Organic collaboration is booming across the ecosystem with panelists speaking on partnerships with other panelists across the event.
Opening the event Bertrand Perez, CEO of Web3 Foundation, spoke on the importance of data ownership, “Decentralization is key as this allows users to own their own data. Users are the creator, not the product, and this is especially the case in the music industry but also applies to gaming.” Speaking on the event Bertrand added: “We are delighted to have worked with Primavera Po, Primavera Sound, and GUZZU to host this educational and creative Web3 Music Summit. We hope to have empowered the audience to seek the ownership of their data, their creations, and understand the value of their connections with their followers.”
Speaking on the Web3 Music Summit, Elena Barreras, Director of Primavera Pro, said “It was fantastic to host this event with Guzzu and The Web3 Foundation in Madrid alongside Primavera Sound to celebrate the potential between web3 and the music industry. The summit fostered important debates across a range of subjects which we hope encouraged the audience to innovate and collaborate across web3 technologies and music.”
Arnau Sabaté, CEO of GUZZU, said “It was great to be able to work with Primavera Pro, Primavera Sound, and Web3 Foundation, to share this important information on new ways to innovate with blockchain technology in the music industry. The pitch session was also a great opportunity for Music start-ups to learn, innovate, and network”
Alex Hatoum, Co-founder of Sumi Network and Polka Häus, spoke on how web3 will reimagine how music is owned whilst also stressing “usability, user friendly interfaces, and the product should be the focus for the next three years”. Leaders from BQ9, Public Pressure and Moonbeam, delved into the exciting intersection of music, fashion, and web3 with the speakers advocating collaboration and innovation across the sectors.
The Summit also explored the transformative power of DAOs in the Music Industry, and their profound impact. The conversation, moderated by Cris Checa from Guzzu, brought together two esteemed experts, Raihan Anwar from Friends With Benefits and Austin Robey from Metalabel, who shared their wealth of knowledge on how DAOs enable individuals to pool resources and work towards a common goal, fostering a sense of collaboration and empowerment within the industry. DAOs are a tangible reality, empowering artists and organizations and revolutionizing the way creative work is organized and distributed.
The second day of the Summit honed in on supporting and educating artists looking to utilize Web3 in the music industry with a range of panel discussions and a Web3 Music Pitch session. Web3 influencer and founder of Invest In Music and GP at Coop Records, Cooper Turley, and Wasserman’s legendary agent, Tom Windish, kick-started the day with how Web3 is starting to drive innovation in the music industry. Experts from across the music industry including Jacqui Bransky from Warner Records, and Sam Schoonover from Coachella, were also among speakers discussing opportunities in the music industry offered by Web3.
The Web3 Music Summit was the first in a series of groundbreaking content production initiatives by Web3 Foundation. The Web3 Foundation is committed to facilitating the transition of the music industry from Web2 to Web3 and will continue educating, supporting, and promoting Web3 technologies amongst the Music Industry. Next, Ursula O’Kuinghttons will lead a Web3 Masterclass at Sónar Barcelona on 15 June 2023, with Arnau Sabaté, CEO and founding partner of GUZZU. The Sonar masterclass will involve additional leading members of the Web 3 Foundation, Polkadot, GUZZU and their creative studio Vitamin3, and delve into the fundamentals of DAOs, exploring case studies and best practices to further support artists that are increasingly aiming to use DAOs as a means to connect, participate and collaborate.
About Web3 Foundation
Web3 Foundation funds research and development teams building the technology stack of the decentralized web. It was established in Zug, Switzerland by Ethereum co-founder and former chief technology officer Dr. Gavin Wood. Polkadot is the Foundation’s flagship project. For more information, visit web3.foundation
Polkadot provides the technical advances necessary to make blockchain technology practical, accessible, scalable, interoperable, and future-proof, removing limitations and barriers to entry, and thereby fuelling innovation, growing the decentralized technology space, and bringing the Web3 vision to life.
About Primavera Pro
Primavera Pro is a global forum for the music industry, providing a dynamic platform to explore current trends and challenges during an annual gathering in Barcelona. Coinciding with Primavera Sound, it facilitates exchanges between industry experts, upcoming bands, and international professionals over five days. As a strategic hub for cultural exchange among Europe, North America, and Latin America, Primavera Pro enables understanding of the present and future of the music world. With over 3000 professionals attending recent editions, engaging in numerous activities and showcases, it affirms its status as a key platform for music industry discourse and innovation.
GUZZU is a Web3 community and platform for music creators to experiment and release Digital Merchandise. Based in Barcelona, and founded by a team of music and technology experts with a background of more than 15+ years experience. Our ultimate goal is to foster a more equitable and sustainable music industry for both artists and fans. GUZZU will help to accelerate artist careers in the web3 space through their creators’ token backed launchpad.