The music-tech industry is seeing a surge in new trade bodies as it continues to evolve. In March, Music Tech Europe was launched as an umbrella association for European organizations. Now, the Web3 Music Association (W3M) has emerged, specifically focusing on web3 technologies and their impact on the music industry.
W3M has already garnered support from major players such as Beggars Group, Blue Raincoat Music, PIAS, Hospital Records, Tileyard, and Karta, among others. The organization is not just a forum for discussions but is actively developing a ‘Music Protocol’ to help its members transform music rights into dynamic assets that can adapt to the ever-changing digital landscape.
PIAS chief digital officer, Adrian Pope, emphasized W3M’s commitment to upholding the principles of copyright and protecting creative intellectual property. This reassurance is crucial given the proliferation of questionable music startups during the peak of web3 hype. However, challenges remain as W3M must address the disillusionment that many people in the mainstream music business are experiencing with web3 music.
Rebuilding confidence and supporting truly innovative projects will be essential for W3M as they navigate the complexities of the evolving music-tech landscape. With a focus on authenticity and user-friendly solutions, W3M aims to set a new standard for the intersection of web3 technologies and music.
