A fresh start
I usually hold the role of “executive producer” on my projects.
I put up the initial money, music, time, and gather the best people I know to help bring the vision to life…
Theres a correlation between producing and financing indie films and indie albums I think a lot about, though one is higher risk and more capital intensive; from production to distribution.
Over the last decade we saw the growth and democratization of music tech enabling opportunities for entrepreneurial creatives; from music making apps to distro, marketing, data, no code tools, and more!
My thesis is over the next decade we see more novel forms of distribution AND financing for musicians on non-dsp platforms. We are already starting to see glimpses in web3, royalty financing, and middle tier artists building as small businesses/brands.
“Defining the role” - We can expand on this
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Become executive producer on my next album (WIP over 70% completed)*
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Private studio sessions and calls
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Executive producer credits is more than just your name on paper, its industry recognition, allocades, and more
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Be part of the release process on mainnet - very few full-length albums in web3 - lets figure this out!
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*insert here*
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Any related 1/1 nfts included
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Edition per song on album
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Added as curator/executive producer on splits of each related release
Mindmap - Here is what I have so far
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Music
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Team
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Budget breakdown
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Structure
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Vision
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IRL events
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Next NFT collection! (Out now on https://xcelencia.world)
Inspo
I need to approach this thoughtfully to ensure that we can deliver on the concept realistically without overselling it.
IOUs are typically used to relate to monetary debt, however in this case its related to accepting the role of Executive producer on my next album.
Its also an experiment in price discovery prior to the album going live on mainnet…
If you’ve been following me for some time you know me for advocating for equity, alternative ways of capital formation, and unique ways to collaborate with collectors.
Thesis
Is it possible to build a relationship with a collector, DAO, or fund using an onchain IOU?
A 1/1 that certifies and records the relationship?
Artists typically shop around for deals and opportunities to fund their projects, in a sense this kicks off the experiment (but in a way I would do it ofc!)
The opportunity to raise additional funds does not stop here.
Risks
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Market Volatility
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Regulatory Risks
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Technological Risks
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Execution Risk
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Intellectual Property Rights
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Liquidity Risk
Closing thoughts/FAQ
From first glance it may seem like an inaccesible drop designed to price out fans or previous collectors. Its actually the opposite this will allow me to continue building for my fan and collector base.
Why not invite fans to participate in the creative process and release of the album?
I have been hard at work on a unique collection that promotes fan and community participation around this album. =)
Why 32Ξ?
One of my ideas is to launch a validator and borrow against it to use some of the funds to jumpstart the project. This could be a multi-sig between both parties. (This idea may not be necessary as it is optional)
(In addition I’ve been crunching numbers on the budget for close to a year!)
Also, diversify liquid staking for ETH based on TVL?
e.g.
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Lido: 32 ETH * 0.77821 ≈ 24.90 ETH
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Coinbase: 32 ETH * 0.118955 ≈ 3.81 ETH
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Rocketpool: 32 ETH * 0.102835 ≈ 3.29 ETH
Other iterations of this idea and why I settled on EP role.
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Auctioning off licensing rights to the album using NFTs
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Revenue sharing license
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IAO - initial album offering (jk but it sounds cool)
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EP role is simpler and can expand into other areas.