The KOR Protocol, a Web3 project aiming to reshape the music industry, has recently gained momentum as several prominent mainstream musicians joined its advisory board. This collaborative shift, announced on October 31, brings on board Grammy Award-winner Imogen Heap, renowned electronic music artists Deadmau5 and Richie Hawtin, the popular duo Disclosure, and the multimedia collective Transmoderna. Their involvement underscores the protocol’s mission to create a decentralized space where artists can manage their work more autonomously and capture fairer profits.
While the global music industry’s revenue reached $28.6 billion in 2023, independent artists, who represent a large portion of the industry, still find it challenging to achieve sustainable income. A recent survey by Xposure Music revealed that only about 11% of independent musicians earn enough to support themselves solely through their music. Among the primary concerns for artists are low royalty payouts and substantial cuts claimed by streaming services and record labels. KOR Protocol seeks to address these issues by offering a decentralized platform powered by blockchain and artificial intelligence.
Empowering Artists Through Decentralization and Fair Compensation
KOR Protocol’s core objective is to empower artists through a blockchain-enabled, decentralized approach that aims to improve compensation models, provide transparent management of intellectual property, and foster direct artist-to-fan engagement. The protocol leverages artificial intelligence to create interactive fan experiences while ensuring fair payment systems, allowing artists more control and transparency in managing their work. This vision aligns with the board’s advisors, each of whom has demonstrated a commitment to artist-centric models and innovative music technology.
For Imogen Heap, an artist known for her advocacy of artist rights and her embrace of digital solutions, KOR Protocol represents a step toward a future where music operates as decentralized digital assets. Heap envisions music assets as publicly accessible yet protected digital items, ensuring artist ownership and control over their creative work. Her ongoing initiative, Creative Passport, further supports this goal by aiming to safeguard artist metadata and unlock new revenue streams. Heap’s role within KOR reflects her long-standing belief in transparency, equitable compensation, and opportunities for community-driven artistic interaction.
Visionary Advisors Supporting New Standards for Fair IP Management
Disclosure, acclaimed for their remix and production skills, view KOR Protocol as an ideal platform to make the handling of music intellectual property more equitable and collaborative. The duo, like other artists on the advisory board, has voiced enthusiasm for a system where music IP can be managed transparently without the need for intermediaries. They are optimistic about a future where the value generated by music flows directly to creators, allowing artists to focus on their craft without facing burdensome cuts from third-party entities.
Inder Phull, the creator of KOR Protocol, expressed confidence in the contributions of the newly appointed advisory team, noting that the protocol could serve as a foundation for next-generation entertainment ecosystems benefitting both creators and fans. Phull highlighted the advisors’ influence and dedication to enhancing the creative experience and compensation for artists, believing their insights would guide the protocol toward becoming an innovative platform for fairer artist-fan interactions.
A Step Toward a New Music Economy with Blockchain and AI
KOR Protocol’s vision to transform music management through blockchain and AI offers a compelling alternative to traditional industry models. By decentralizing content ownership and streamlining IP management, KOR aims to eliminate intermediaries and enhance transparency. This vision, coupled with the guidance of influential industry figures, positions KOR as a progressive platform with the potential to foster new standards in how music is created, owned, and monetized.
The platform’s decentralized approach is expected to create a more sustainable music economy, one where artists directly benefit from their contributions. As KOR Protocol advances, its unique structure of combining blockchain technology with AI for interactive and engaging fan experiences could pave the way for a stronger, artist-driven music industry. With top-tier artists and innovative minds now advising its development, KOR Protocol appears well-equipped to bring a transformative impact to Web3 music, setting the stage for a future where artists gain more control and profit from their creative efforts.