Financing new creative enterprise through blockchain technology: Opportunities and policy implications

Abstract

Abstract Blockchain technology represents an emerging source of venture capital crowdfunding for creative ventures, specifically in the music industry. Although music streaming is often portrayed as a success story, the internet has in fact been something of a false dawn for the recorded music industry—particularly for emerging musicians. New music ventures might obtain alternative entrepreneurial finance through token sales or Initial Coin Offerings. Policymakers can play a role in developing this form of seed finance for the creative industries and beyond.