Though it is a young technology, the most intriguing feature of Web3 is that it is expanding quickly. What was previously known only to techies is a fast-expanding ecosystem of dedicated creators using decentralized technology to solve some of the most pressing global issues. One of the most influenced industries is the entertainment industry, and Web3 and the music sector are two inseparable matches. Web3 is proving to be the much-awaited solution to monetizing music by leveraging modern technologies such as streaming platforms. It can be defined as the transformative crypto-economy that has turned Non-fungible tokens (NFTs) into a new goldmine allowing artists to earn from their work.
Notable producer Lex Larson is one of the key Web3 proponents leading its adoption into the music industry. Notably known by his group name, Dr. Hollywood, Lex commands a profound understanding of Web3 technology. He is also a household name in the music scene and is established as the go-to producer. His unparalleled work ethic and unique talents have attracted the attention of various industry stakeholders.
A multi-faceted producer, Lex has made music, movies, and television shows from Shahs of Sunset toBaywatch. He also worked with many great artists like Ty Dolla $ign, Nicky Jam, and started Looks Rare NFT Studio. Lex also produced music for Baywatch, XXX, Logan, and worked with other notable names like Lil Jon and Juicy J. Recently, the sensational producer turned his eyes to crypto, launching an NFT collection for Deadmau5 and Michael Jordan’s Heir Company. Lex is also passionate about the Web3 technology that he believes will transform the entertainment industry.
According to Lex, the early adoption of Web3 into the entertainment scene is a win for all creatives. As an artist, you can not only build a loyal community but also efficiently engage your fan base and provide them an avenue to directly support your art.
“These holistic decentralized platforms represent the next stage of the internet and could open up fresh opportunities for fan interaction with artists in the Metaverse. Composers and artists will be able to access new funding models thanks to this new wave of platforms and apps. It may enable thousands of individuals with a love and aptitude for music to monetize their talents as a viable source of income,” explains Lex.
However, getting every artist to accept and board Web3 technology is challenging. The music industry is a diverse sector, and numerous other factors come into play. His biggest challenge in music was clearing big artists from their record companies. Thankfully, Lex overcame this by finding extensive movie placements to debut their music. This was a strategic move to distribute music through films and Web3.
Today, Lex advises every creative person to always evolve and never stop working hard. The entertainment scene is a dynamic sector, and unless you are innovative and adaptive, you can easily be left behind. Also, it would be best to stay abreast of trends in the tech world, especially blockchain. Moving forward, Lex aspires to continue representing big IPs in music and NFTs.
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