In the dynamic and ever-evolving world of music, the emergence of web3 technology has opened new avenues for creators to connect, earn, and build sustainable careers. One rising role in this space is that of the web3 music manager. After conducting extensive research and speaking with various web3 artists, we compiled insights about what artists want from a web3 music manager and the value these managers can provide.
While the potential for this new breed of manager is exciting, artists also highlighted key conditions and concerns. This blog post explores the pros and cons of web3 music managers and the expectations that artists have for them.
The Role of a Web3 Music Manager
In the traditional music industry, managers handle everything from marketing and promotion to networking and career strategy. In the web3 space, the responsibilities are similar but extend to understanding decentralized technologies, NFTs, blockchain culture, and helping artists engage with their communities on-chain.
Artists are generally open to having a web3 music manager, but they emphasize that these managers must deeply understand web3 culture and respect the artist's creative autonomy. Let's break down the advantages and challenges of web3 music managers based on the feedback we received.
Pros of Web3 Music Managers
1. Deep Understanding of Web3 Culture
Artists believe web3-native managers are better suited for the role than legacy web2 managers transitioning into web3. A web3-savvy manager understands the ethos, trends, and expectations of the decentralized music community, making them more valuable for an artist's growth.
"A manager is more valuable when they completely understand the web3 culture and ethos of the community."
2. Trust and Mutual Respect
The music industry has a long history of exploitation, particularly for early-stage artists. In web3, transparency and fairness are critical. Artists want managers who respect them, avoid exploitative deals, and prioritize long-term collaboration over short-term gains.
"Trust and mutual respect between the artist and the manager is essential. Avoiding predatory deals is key."
3. Strategic Support and Expertise
Web3 music managers can offer immense value by helping artists with marketing, establishing relationships, and sharing industry expertise. This support allows artists to focus on their craft while managers handle the strategic aspects of their careers.
For more established artists, a web3 manager can also take care of administrative tasks, promotion, and collaborations.
"Managers can provide value by sharing industry expertise, helping with marketing, and establishing relationships to provide opportunities."
4. Flexible and Fair Incentive Structures
Unlike traditional record labels that demand ownership of the artist's music, web3 music managers can adopt incentive structures similar to marketing consultants. This allows artists to maintain control of their work while the manager is compensated fairly for their efforts.
"Instead of taking major ownership in the artist's music, the incentive structure should be similar to a marketing consultancy."
5. Empowering Artists as CEOs of Their Own Brands
In web3, artists are seen as their own "vertical business." The artist is the CEO with a vision, and the manager helps execute that vision. This dynamic empowers creators to remain the face of their brand while managers provide behind-the-scenes support.
"Web3 music is about 1/1 interactions with fans. Artists should be the face of the brand, not the manager."
Cons of Web3 Music Managers
1. Lack of Web3 Knowledge in Legacy Managers
A significant challenge is that many traditional music managers lack knowledge about web3 technologies and culture. Artists worry that web2 managers transitioning to web3 may not fully grasp the decentralized ethos, which can lead to misunderstandings or ineffective strategies.
"Except one artist, everyone encouraged web3 native music managers rather than legacy web2 managers."
2. Risk of Exploitative Practices
Although web3 promotes transparency, there is still a risk that some managers may adopt exploitative practices similar to those seen in the traditional music industry. Artists fear that early-stage managers might offer exposure in exchange for unfair deals.
"For early-stage artists, there has been a long history of exploitation. Managers must avoid leveraging predatory deals."
3. Balancing Visibility
While managers are valuable for strategic growth, there’s a fine line between supporting the artist and overshadowing them. Web3 music thrives on direct artist-to-fan relationships, and artists want to ensure that managers remain behind the scenes.
"Artists should be the face of the brand, not the manager."
4. Evolving Roles and Expectations
The web3 space is constantly evolving, which can make the role of a web3 music manager ambiguous. Artists and managers may need to navigate new platforms, tools, and trends regularly, leading to uncertainty.
Conclusion: The Future of Web3 Music Managers
Web3 music managers have the potential to revolutionize how artists manage their careers, offering tailored support, industry knowledge, and strategic planning in a decentralized world. The key to success lies in:
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Deep web3 understanding
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Building trust and respect
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Fair incentive structures
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Empowering artists as independent brands
With the right approach, web3 managers can help artists create peacefully, engage with their fans authentically, and maximize the benefits of blockchain technology. When an NFT goes directly from the creator to the fan, the power of web3 becomes real. The future is bright for artists who have the right manager by their side.
Are you a creator ready to explore the potential of web3? The journey is just beginning, and with the right team, there are no limits to what you can achieve.