In particular, artists are looking far beyond just NFTs into other implementations of crypto - such as social tokens and DAOs - to experiment with new models of interoperable fan patronage, collective pooling of financial resources, community-driven creative collaborations and much more. In August 2021, Cherie Hu and Brooke Jackson from our team wrote a guest article for NFT Now that framed this shift as going “ from collectibles to communities.” Emerging use cases for NFTs at the time included portable fan identities, on-chain ticketing solutions and crypto-native album rollouts.įour months later, these longer-term use cases for Web3 are starting to come into sharper view as more artists start to experiment with the technology. The subsequent bear market for music NFTs has also woken up many people in the music industry to the importance of looking beyond just one-off cash-grabs for headlines and instead embracing more holistic, thoughtful strategies for integrating NFTs into artists’ long-term marketing strategies and business models. The frenzy triggered waves of scams and fan backlash regarding the perceived financial exclusivity and environmental concerns of NFTs as a format. Seeing the likes of 3LAU and Grimes pull off seven- to eight-figure sales in a matter of hours for their respective collections, hordes of celebrities jumped on the music NFT bandwagon in early spring, driving the market to a peak of $27 million in monthly primary sales in March. You can view the current state of our report rollout, and a full list of our member-contributors, by visiting .įor most of 2021, the mainstream music industry’s view of Web3 suffered heavily from NFT tunnel vision. Part I focused on the burgeoning market for generative music NFTs Part II focused on legal and contractual issues around music NFTs, especially those that promise a share of streaming revenue or royalties. Contributors to this research thread on music/Web3 startups are listed at the bottom of this page, sorted by role. This is Part III of a five-part, collaborative research report that the Water & Music community has put together over the last two months on the state of music and Web3. ![]() However, there is an urgent need to address imbalances in music/Web3 capital flows, plus gaps in the foundational metadata and community-building models required to make the next stage of this ecosystem healthy and sustainable for artists of all career stages. New platforms are launching weekly to help artists leverage NFTs, social tokens and DAO infrastructure to create new economic models around creativity and fan engagement. On exit, crunchbase_json.db and crunchbase_data.json would have been created.Tl dr: The shape of music/Web3 tooling is more exciting and diverse than ever before. choose option 1 again to show that data is not added if it already exists.choose option 3 to retrieve the data based on a company name (ex: apple) which is also entered.choose option 1 to get data from crunchbase and write it into an SQLite database and JSON file.run python3 crunchbase.py which will provide a menu driven interface.This is used to obtain the first five sentences of a text body.Ī setup.py file is present which installs the required dependencies automatically on running: re_demo.py is an additional separate file for experimental purposes to show the functionality of the StanfordCoreNLP parser in sentence splitting and tokenization.simple_scraper.py contains the Scraper class which uses the requests library to scrape data from a given URL.database_json.py contains the JsonDB class which provides functionality to read and write data in a JSON file using the json library.Additional classes Company and SocialAccount help define the two tables of the database namely, companies and social_accounts which are linked using a foreign key. database_orm.py contains the ORMInterface class which provides functionality to read and write data in an SQLite database using SQLAlchemy ORM.Regex are used to extract information from the response.text string of requests. crunchbase.py is the main file containing the Crunchbase class which provides an interface to scrape data and read-write into a database / JSON file. ![]() read data from the JSON file filtered on unique company nameĬode has been modularized into functions and written in OOP manner with usage of classes.read data from the SQLite database filtered on unique company name. ![]()
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