In this episode, Steve chats with Laide about Music NFTs, what's broken with the music industry, and where the industry needs to evolve for a more equitable experience for artists and music fans alike. Steve also talks about how Web3 and blockchain play a role in that evolution as well as what he and his team at Vezt are building.
Steve is the CEO and co-founder of Vezt. Vezt provides a digital marketplace for artists and songwriters to share a percentage of a song’s royalties to fans and brands for royalty-based financing through a process that Vezt calls Initial Song Offering or (ISO™).
Topics & Timeline
- 1:45 - Steve's background & interest in Web3
- 7:25 - Why music artists no longer need record labels
- 12:25 - Music NFTs & what most are underestimating with Royalty payments
- 13:57 - Music NFTs versus Initial Song Offering (ISO)
- 20:42 - Why mindset needs to shift around music consumption to ensure artists are properly compensated
- 25:30 - More about Vezt's Initial Song Offering (ISO) Process
- 37:25 - Vezt's switch from Ethereum to Stellar
- 43:35 - Vezt's controversy about customers not receiving royalty payments
- 53:30 - What's next for Vezt?
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