How Technology Changes Monetization of Musical Digital Assets

Abstract

This thesis examines how blockchain technology can affect the music business, as well as its potential applications and benefits over current practices for investors, users, and artists. It explores the music industry's current ecosystem and motivations for changes, and discusses the benefits and difficulties of using blockchain technology in a decentralized music platform (Web3). The thesis also demonstrates the mechanisms that enable these platforms to be built and run. Overall, the thesis emphasizes how blockchain technology has the ability to allow musicians more freedom, transparency, and flexibility when it comes to monetizing their music with less involvement of a third party.