At the Proof of Talk 2024 conference in Paris, Music Protocol CEO Sergio Mottola discussed the transformative potential of blockchain technology for the music industry.
With streaming dominating revenue, Mottola emphasised the need to innovate music distribution and IP management through blockchain and tokenisation.
By tokenising music catalogs, including those of major labels like Universal Music and Warner Music, Web3 can enable decentralised licensing and integration into virtual environments like the metaverse.
This approach aims to enhance user experiences, create new revenue streams, and ensure better transparency and efficiency in music rights management.