SINGAPORE: It's a concept still in its infancy and could take some time before it hits the right notes, but cryptocurrency is currently being explored as a source of funding to support budding talents in the local music scene.
By using the DAO, The Great Wave has increased its stable of artistes, including those from South Korea, to more than 10 in under a year. “It's immediate, essentially, whereas on the streaming platforms, you could get a million streams in January you only see your money in February the next year. So I think this really helps a lot of indie musicians indie labels.”
“You have to learn how to code before you ask for a job as a coder. So I think that for artistes, it's almost the same thing, and it might not work for everybody.”But some are also treading carefully because of the collapse of some crypto companies and currencies last year.
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