Retroactive - The New Era of Music Fundraising

 
 
IMG_20190419_194745.jpg
 

Retroactive was definitely one of the most talented and mind blowing events presented by Ei and The Soundshop, the artists performed an eclectic range of compositions with instruments created between 200-2,000 years ago and layered sounds with new techniques such as looping and electric elements

If new elements of songs can be created through innovative technologies, why not apply the same logic to fundraising for artists, which has not changed in over 50 years!

Sticking with the tradition of combining live music and education, we had various artist perform throughout the night, sandwiched between the live performances, we discussed the multitude of new tools and platforms that utilize blockchain and help artist fundraise and/or generate revenue to pursue their musical projects.

- Musicians -

Stephen Chen - Baritone Saxophone - @behaviorist

You'd never guess that Stephen was improvising with a new set of looper pedals he got in the mail that day. He had mics taped to the instrument to highlight the full bodied sounds of the baritone saxophone.

Katherine Redlus - Harp - @katherineredlusmusic

The power of Katherine's voice, harp, and looper pedals transcended you into a choral euphoria and musically embodied the battle between light and dark.

Lily Desmond - Violin - @lilygoddamndesmond

Lily tested the audience's attention span with her electric violin. She created a single bar hook and used that as a baseline for various melodies.

Matt Chilton - Tenor Saxophone - @chillstons

There was a wide array of sounds from Matt between the saxophone, loopers, and a Renaissance double reed instrument called the kortholt.

-

In this new era of fundraising, many artist are no longer going down the traditional path of labels or sponsors, instead they are turning to crowd funding platforms such as kickstarter, patreon or lessor know but music specific platforms such as Pledgemusic or Artistshare. Whist these platforms aim to provide better engagement with fans, fans are often left disappointed due to the lack of communication and governance on what happens after the project has been funded (many of which also do not received the promised exclusive merchandise or album).

What if told you that in the future fans would not longer be “just” crowdfunders but music investors too? We see a world where musicians can sell a portion of their next album, EP or tour to their most loyal fans, this would not only drive better engagement but also turn those fans into promoters.

Now wouldn’t that be nice!

 
Bill Kwok