🎤 Empowering Artists with Blockchain
Medallion is a Web3 platform for artist-fan engagement and monetization via blockchain and NFTs.
Today's Highlights
- Medallion - innovating music monetization
- Learn - a couple of courses to further your knowledge in crypto
- In Other News - a few interesting developments we're tracking
Medallion - Innovating Music Monetization
Medallion is a platform that utilizes web3 technology, designed to enable artists to create digital worlds and foster fan communities. Its primary goal is to facilitate direct and personalized experiences between artists and their fans. By leveraging blockchain technology, Medallion aims to drive engagement, offer actionable insights, and unlock new economic opportunities for artists. The platform allows artists to build tailored creative experiences based on their fans' values, reflecting the artists' individual visions and engaging fans in immersive ways. Many artists are utilizing these experimental spaces to create fan-club-like areas, complete with competitions and personalized merchandise.
Medallion also provides music creation, distribution, and monetization services through its blockchain-based royalty system. This system ensures that artists are appropriately rewarded for their creativity and innovation. The platform's emphasis on fostering direct relationships between artists and fans is intended to create a more equitable music industry that appreciates and rewards artistic talent.
Through Medallion, artists can launch online communities, granting fans an opportunity to connect with them on a deeper level. Moreover, the platform incorporates a Customer Relationship Management (CRM) system, allowing artists to gain a better understanding of their fans by accessing data on demographics, purchase history, event attendance (via QR code check-ins), email addresses, and phone numbers.
Fans can sign up for an artist community by connecting via a digital wallet or signing up with their email address, reminiscent of joining a fan club or a mailing list. Medallion automatically creates a digital wallet for users who sign up with their email address, accessible only through the associated email.
Medallion offers an NFT music product known as Digital Deluxe. Artists can release traditional music products on streaming services or physical formats, and Medallion enhances these offerings with a "digital deluxe experience." This experience allows fans to purchase digital records bundled with exclusive collectible content, such as high-resolution music downloads and other exclusive materials.
The platform also features products like the Season Pass, a digital collectible available to an artist's top fans, granting them access to exclusive digital content and limited merchandise editions. Season Pass holders also receive fast passes to merchandise stands during concerts. Moreover, the Producer Pass allows fans to participate in the creation of an artist's next music video, providing input on aspects such as the script and video style.
To encourage user interaction and the creation of user-generated content, each community on Medallion features a Studio component, a feed where fans can post and engage with one another. Weekly prompts are introduced to spark conversations and inspire user-generated content.
Furthermore, the platform is exploring the concept of granting fan communities access to an artist's intellectual property. For instance, fans could create digital collections, such as merch designs, which artists can approve and sell. This collaborative approach would enable artists to share revenue with fans involved in designing these pieces.
Finally, Medallion enables the sale of music as NFTs and sets up royalty percentages honored at third-party marketplaces like OpenSea. Consequently, if an NFT is resold, the creator receives a percentage of the subsequent sale.
Matt Jones is the CEO and founder of Medallion. Medallion has raised a total of $9M in funding.
📚 Learn
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