The Musician Cryptocurrency Conundrum

Thanks to my time at Berklee College of Music, I’m lucky to know a great number of talented and successful musicians. Yet, few of them use cryptocurrency. http://i.imgur.com/GP0YlNn.gif?1 _{this post is NOT affiliated with berklee in any way} In fact, few musicians are even *aware* of cryptocurrency. Sure, they've heard of Bitcoin - but that’s the full extent of it. They aren’t on Steem, they don’t even know what Ethereum is. It baffles me, considering how important this technology is for artists. After all, it facilitates a much larger and more prosperous group of working-class artists in the world. Whereas before, you had to join a cover band or become a teacher to make a “middle class” music income, cryptocurrency and blockchain technology are forging a new path for the musician who just wants to create music. You can earn a living off of original music, thanks to the removal of middlemen (youtube, spotify, labels, whatever) who used to eat the profits. http://i.imgur.com/mjlHdLj.jpg?1

What's Going On?

Why aren’t musicians picking up on this exciting new technology? A few thoughts: -Musicians aren’t financially minded. They focus so hard on creative pursuits, on the raw experience of life itself, that they don’t tend to have an aptitude for numbers and long-term financial planning. -Musicians are trying to focus 24/7 on music. They’re afraid that they have to “make it” by age 30, and to do that they have to practice 10,000 hours, and therefore any hours spent learning and understanding new technology are seen as a waste of time. http://i.imgur.com/dCcIt26.jpg?1 _{Musicians read this book and lose their fuckin minds. p.s. this book has no science in it} -Musicians fear making money. This is weird, but in the punk/underground scenes, you basically aren’t supposed to want money. Which is absurd. -The catch-22: Few musicians are engaged in crypto now, which means people aren’t inclined to take the “risk” of trying it.

What Will Happen in the Future

Overall, I am optimistic. The tide will slowly turn towards more musicians on the blockchain, thanks to the sheer value that blockchain and cryptocurrency offer for them. When musicians see more successful colleagues talking about Ethereum, Steem, LBRY, and the like, it’ll drive more interest. http://i.imgur.com/LYQeZIk.png?1 In the short term, the best thing we can do is succeed. Create great art and monetize it via the blockchain. I know any band I join will have to learn to use blockchain, because I can’t imagine working hard and NOT utilizing this incredible new opportunity. What do you think, are there are other angles to this question that I’m missing? — _{It only takes ten seconds to join my weekly email newsletter, packed with mind-expanding media from around the web. Sign up here: https://mattsokol.us}