As mental health issues continue to plague the entertainment industry, up-and-coming creatives are rejecting mainstream record deals. Instead, they’re seeking refuge in SOULRICH: a movement to join forces with labels to empower independent musicians on the blockchain.
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In today’s world of click-bait headlines and ever-changing expectations, charting artists are constantly facing a harsh truth of entertainment: their image is a product, and a mass-consumable one at that. Tours, fan experiences, and the very future of their fame hinge on an ability to show up as “superstars” – untouchable, unhuman machines that smile for the camera, shake hands, and drum up the crowd.
In a career where revenue is dependent on performance, both on and off stage, it’s no wonder that artists struggle to maintain balance while pleasing mainstream labels and management. Burn-out and mental breaks are frequent amongst stars: the tabloids are full of them, week after week. In a world where people are consumable, even the deterioration of our favorite artists benefit executives at the top. It’s no wonder creators are rethinking fame, and looking for alternative ways to achieve it.
Enter the blockchain.
This distributed ledger technology is providing a much-needed sanctuary for artists who are tired of being taken advantage of by music executives. In Web3, musicians can retain complete control over their work and get paid directly for their creations. The music industry has long been plagued by unfair revenue splits, these new platforms are giving power back to creators and providing a much-needed boost to independent artists.
This is the message of SOULRICH, a web3 music platform identifying itself as an “electromagnetic frequency powering artists, creators, and lifestyle brands.” It heralds a new era in entertainment: one where independent artists can achieve mainstream fame while utilizing technology to protect their mental health.
“The beauty of the blockchain is that artists no longer have to comply with the demands of labels and managers to attain stardom. Instead, they’re accountable directly to their fans, who want to see them thrive and succeed.”
Desteni Perez, Founder of SOULRICH
Major labels are taking notice of the potential of the technology and are beginning to invest in startups that are building platforms on the blockchain. While it remains to be seen how the industry will evolve, the blockchain is already inviting major players in; and SOULRICH, ahead of it’s seed round opening in September, is ready to welcome them as collaborators.
Perez’s Co-Founder, 7-figure branding expert Lauren Mitchell, sees past the friction of record labels and independent artists. She dreams of a future where technology facilitates web2 resources, instead of competing with them. “Web3 is collaborative by nature, yet many web3 music founders act like they’re in a battle with the mainstream music industry. I think it’s time to change this narrative. Web3 will expand access to resources in a way that benefits everyone.”
By tokenizing their art, artists raise capital directly from fans and supporters, who then have a direct stake in that creator’s success and well-being. SOULRICH artists will create subscription-based models, give fans access to exclusive content and personalized experiences, and are saved from exhausting tour schedules.
Artists will also be encouraged through the SOULRICH portal, to “create your own record deal,” pioneering a collaborative movement where creators can design their own future, selecting options and resources that benefit them most. “All web3 music executives should have a direct stake in the mental well-being of their artists,” Mitchell says. “NFTs give the music industry an incentive to do so.”
Artist Sagealina, known as the first NFT Superstar, claims that blockchain incentives are changing the industry’s focus toward wellness. “My mental health is valuable to them, now,” she says. “For SOULRICH to set up a system where I matter as a human, as opposed to the art I produce, is monumental.”
Sagealina is the headlining artist at Bali NFT Week, September 8-12, where she will join other sold-out artists and fellow SOULRICH ambassadors including Daniel Allan, Sammy Arriaga, Violetta Zironi, Reo Cragun, and others. Together, these artists will join forces to showcase the power of NFT music on a global scale. “This event will be the first of its kind,” she claims. “No other NFT event has focused on art and wellness like this.”
The event is reuniting legendary Canness-winning filmmaker duo Henry Chen and Ssong Yang to produce “The Awakening,” showcasing Bali NFT Week’s Whales for Whales songwriter’s retreat. “We’ll be highlighting the emerging relationship between technology and nature. How we must let go of our egos in order to see the greater picture,” the duo says. Chen and Yang have had their work featured at the 89th Academy Awards, and is excited to partner with SOULRICH to produce their next cinematic docunarrative.
Not only has the event attracted top talent, but major players in technology and innovation. SOULRICH is partnered with Immersed, a top Virtual Reality app contracted with Meta, to turn Bali NFT Week into a globally-accessible experience. Users will be able to attend the event’s flagship summit, #SAVEweb3, inside a completely virtual Oculus experience – and it’s free.
The event is also backed by Earth Wallet, offsetting crypto’s ecological costs. Earth Wallet auto-distributes treasury funds to environmentally-friendly projects, sharing the regenerative mission of Bali NFT Week. Earth Wallet is free and open-sourced, and plans on airdropping unique NFT passes to attendees.
“Web3 education and resources should be free,” Mitchell claims. “We’re tired of seeing cash-grab NFT events. It’s time to do things differently, and focus on what really matters: the soul.”
Daily yoga, access to therapy, and a coinciding retreat at an artist house in Bali will replace the suited-up conference vibe of the traditional NFT event. Musicians will have the opportunity to focus on something bigger than themselves: art, nature, and giving back.
“SOULRICH is giving us the opportunity to create from abundance and beauty, not pain,” Sagealina says. “I’m hopeful that the mainstream music industry will take note.”
Interested in Attending Bali NFT Week?
Click here to purchase your phsysical or digital tickets.
