How blockchain takes the electronic music industry to a whole new level
Blockchain is making waves in the electronic music industry, bringing customer loyalty, engagement and industry collaboration. Blockchain technology is often associated with the finance industry, namely, the usual suspects like traditional finance (TradFi) or decentralized finance (DeFi). However, the technology is industry-agonistic and can transform any sector that relies on data and interactions. One of the industries that could benefit from blockchain adoption is entertainment — specifically the electronic music market. Challenges facing the electronic music industry The dance music marked valued at around $10,2 billion in 2022, and boasting a dedicated fan base of hundreds of thousands of people, has long been lacking in terms of providing reciprocal benefits to its passionate supporters. Until now, there has been an absence of a cohesive global community that effectively communicates and derives advantages from the considerable contributions made by these fans to the scene. Due