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Cherie Hu of Water and Music discusses Web3 at Consensys 2022.
Water and Music, the journal as well as the research DAO (decentralized autonomous organisation) that is putting together the resource for those who are innovating the music business has been created to ease dialogue between music industry professionals. tech. It is now taking it one step further and actively engaging with the industry's hive brain to design research initiatives and gives everyone involved a reward.
"My reason for my membership is helping people to get a better grasp of the world and also to understand their role within the global community," is the introductory statement of Cherie Hu, founder of Water and Music. Cherie hopes to aid people to get the best possible training so they can make an impactful impression on professionals in their area. Cherie's primary tenets are when it comes to writing for business, has always focused on writing that is able to be utilized in action. "At the end of every report, you'll leave with an understanding of the best way to improve your business or to improve at your job. Making sure that you are in a position to bridge the gap between the needs of society requires and what we write, is very important," Cherie explains.
Today, the Water and Music team has increased the frequency of'research sprints' lasting about 10 weeks, where they pick a topic of their choosing in order to collect all the information they can in order to provide their clients with the best possible service. In these sprints of research, when they've made the decision to choose a topic the team will head out and talk to people in the Water and Music community: "We ask: What are your current concerns What are you currently concerned about?' We then crowdsource those responsesfor responses. The format of the report comes directly from those specifications," she tells me.
Like most research sprints, Water and Music research sprints are extremely collaborative and community-focused. "It's an brainstorming process that's top-down and we hire many people to assist in the research process," Cherie says. In the present time, this Water and Music community has issued two papers under the collaboration. Keeping on-trend, they sold NFTs in retroactive fashion and, if people would like to contribute to the study then they could do so and then the profits were divided equally between contributors. "It's obvious to me that the result of this research was better than if one person attempted to study every aspect. The research wouldn't be complete!" She smiles. "It's convinced me of the value of not just connecting people, but even more important, connecting data."
Regaining power
"It's more of an academic term, but I think that it's applicable to Water and Music: we're members of a collective of professionals," Cherie continues. "The idea was introduced in the year 1991 by cognitive anthropologist Jean Lave and educational theorist Etienne Wenger] and is used to describe a group of individuals that do not only share similar interests and passion and passions, but also join forces with the sole aim of learning how to create things better."
She explains that this can correspond to people who are in the same industry or in similar roles across various industries. People who communicate regularly and exchange knowledge. Water and Music will contribute to this by producing materials and tools, in addition to facilitating peer-to peer learning "That'll be an extremely important aspect of the future plans in breaking down silos of information within the music industry, and encouraging everyone to become more cooperative," Cherie adds.
There's a sense of 'taking the power back and reclaiming power' within this. Cherie is hoping to convince artists that they are more powerful that what they appear to have: "Certainly, in the streaming market, there's a growing concentrations that are led by Spotify as well as other major technology companies. Royalty rates are going down -- well, it's all down! -- so we're giving artists the ability to comprehend the vast array of alternatives. Artists and other people who surround their work with the capability to be more innovative."
Sux3d7DLXXZZZHfaqDqtw The Water and Music team
Cheire clarifies that "community of practice" at first was an expression referring to professional groups, but it could also apply to artistic communities, for example such as the ones we've seen here. The reason for this is that in Water and Music the exact goal is to promote the music industry and that's really down to the personal motivation. "I'm motivated by this work due to the fact that I used to play the piano. I spent most of my time around classical music, however I am a fan of all musicians and listening to their views on where technology is headed," Cherie continues. "Hopefully the knowledge that we share helps artists and their teams understand the technology more effectively, allowing artists to produce cool art!"
Through the rabbit hole
The current study has been focused on the chaos of Web3 that is the name for the future of the internet built around blockchain technology. "We're looking to determine an appropriate State of the Union for technological trends in the field of music, particularly those that generate a lot of noise," she explains. "Web3 is an ideal illustration due to the sheer volume of confusion; no one knows what's happening. It's the biggest tunnel and continues to go on. It's almost as if "What's happening?" ?'!"
It so it isn't surprising it is one of biggest fears is caused by fan-generated opinions. "I consider that to be one of the main reasons for why many performers aren't performing NFTs in the moment: because they fear negative reactions from fans," she muses. "We conducted a research report about issues surrounding Web3. Naturally, in the field of music there are numerous questions regarding licensing as well as Intellectual property (IP) that can be affected by NFTs. This is a full chapter!"
The tlg9Yi9H8w9qUpATyR6 It was the Water and Music meetup at the NFT.NYC conference.
The next report that will be collaborative within the community is already in progress. "We're exploring some more obscure topics right now, for example the metaverse or whatever that is!" Cherie jokes. "We're not building any thing right now. We're trying to determine what people's opinions are about it. And what the people have difficult comprehending." The book features interviews with startups, artists the founders of, as well as industry experts regarding their perception of the metaverse and what they're hoping to achieve within it, as well as the things that are proving difficult.
Cherie says that the aim is to blend this research with building online tools to tackle these issues. "We have tried this with a couple of Web3 topics previously, including the second-hand sale of music with royalty shares and NFTs. Certain smart contracts stipulate that 10 to 20% of the secondary profits will go to the person who invented it. A large number of people have expressed this as an opportunity to earn money. The reality is that the majority of NFT's do not generate any secondary sales," Cherie explains. Cherie believes it is more important to have the relationship and personal interactions with the NFT is part of rather than in the possibility of having an item to market in the future.
Alongside the study, Water and Music will create an online tracker dashboard where users can input an NFT collection and check whether there were any additional sales, and if yes what the NFT was able to move through the market. "We are looking to develop more interactive tools. It's as interactive data journalism particularly for music artists since they're probably those who think the most about the release or the pricing NFT drops. We're working on establishing crucial frameworks and tools that will aid people with the task of analysis on their own."
Conflicting visions
Cherie observes that certain concepts that are both new and fascinating are becoming muddied rather than clearer with time "For the metaverse it's a good example. There's an enormous gap between how metaverse concepts were historical and also conceptually defined prior to during the 60s." She outlines how the Water and Music team is developing a framework to understand traditional definitions of the metaverse, and also the gap between the expectations of people and what actually happens.
"The early sci-fi novels with reference to the metaverse featured the concept of interconnected virtual and IRL worlds. We are so far off from this vision today. But at the same time inside the music industry, performers declare "I've launched my personal metaverse" however they are referring to the idea of the virtual world.
"There exists a contradiction between the metaverses that exist," she adds. "You have to deal in Meta (Facebook's holding firm) and Epic Games on one side they are both centralized, and one entity owns everything but there is the notion of a Web3-forward , decentralized metaverse, with interoperable identity and assets. It's logical to at least experiment with blockchain technology and what contribution it can play in this process. However, this is completely contrary to Facebook's strategy."
Cherie is of the opinion that metaverse "just changed into this obscure word that anybody can utilize to benefit themselves" and would like to cut through the nonsense. It is in line with her main purpose: Water and Music analyzes and critically look into the topic, and then is in a position to offer practical data for people to decide what to do. These are real-world applications also provide aid to artists as well as their personnel when evaluating partnering with certain metaverse-based platforms.
The Water and Music meetup at the NFT.NYC conference
Cherie concludes her performance in typical fashion, inciting collaboration within Cherie's Water and Music community. "In the coming months, we'll feature interviews with artists, platforms, and startup founders. Our research into the metaverse is expected to continue into this summer until the end of the year If anyone is interested in getting involved with this project, let me know. If you have suggestions of people to talk with, I'm interested in ideas!"
To find out more For more information, check out the website. You can also follow Cherie for updates in her twitter feed Twitter: @water andmusic. To become a member of the Water and Music community, and gain access to the community's in-depth research reports and Discord server, go to waterandmusic.com/membership.
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