Following our previous discussions on Bitcoin fundamentals and the platforms musicians can use to earn Bitcoin, our latest sessions at 2140Music took a deeper dive into the practical tools, formats, and monetisation strategies for artists in the New Music Economy. These sessions focused on giving musicians tangible solutions to navigate this evolving landscape while leveraging Bitcoin and blockchain technology. This session also served as a continuation of our previous discussions, addressing key questions raised and providing further insights into how Bitcoin’s tools can empower musicians. Here’s a recap of the key highlights and takeaways from both presentations.
Presentation 1: Tools for the New Music Economy
Building on the Last Session
We started by recapping previous discussions on why Bitcoin is foundational to the New Music Economy, reaffirming its importance as a trustless, decentralised, and censorship-resistant form of money. Building on this, we explored tools that allow musicians to integrate Bitcoin into their existing workflows while maintaining control over their earnings.
Bitcoin Wallets: The Foundation of Financial Sovereignty
- Types of Wallets:
- Mobile wallets (e.g., Wallet of Satoshi, Xverse).
- Desktop wallets (e.g., Alby).
- Hardware wallets for secure, offline storage (e.g., Ledger, Trezor).
- Public and Private Keys:
- Public keys act like bank account numbers, allowing others to send Bitcoin.
- Private keys serve as secure digital PINs, granting access to funds.
- Safety Practices:
- Backup seed phrases securely.
- Avoid sharing private keys or seed phrases.
Bitcoin Layers: Unlocking Advanced Capabilities
- Lightning Network:
- Enables fast, low-cost transactions for micropayments and direct artist-to-fan interactions.
- Stacks:
- Adds programmability and smart contracts to Bitcoin, enabling applications like NFTs and decentralised apps.
Real-World Applications
- Podcasting 2.0:
- Enables value-for-value (V4V) streaming, allowing fans to pay creators directly in real-time.
- Wavlake & Fountain App:
- Allow artists to receive direct streaming payments and listener engagement tips.
Key Questions from the Audience
- How can Bitcoin be passed down to future generations?
- Solutions like Casa for secure, multi-signature storage.
- What’s the best way to protect private keys?
- Practical strategies for seed phrase management and wallet security.
Presentation 2: Formats, Mediums & The Future of Music Distribution
Understanding Formats vs. Mediums
One of the biggest takeaways from this session was the distinction between formats and mediums:
- Formats refer to the technical makeup of music files (e.g., WAV, FLAC, MP3).
- Mediums refer to how music is delivered (e.g., CDs, streaming platforms, USBs, blockchain-based distribution).
Bitcoin-based tools don’t necessarily require musicians to adopt new formats, but they do enable new distribution methods, allowing greater autonomy and direct engagement with fans.
Ordinals & Music on Bitcoin
One of the more groundbreaking topics covered was Ordinals, a way to permanently inscribe music onto the Bitcoin blockchain. Unlike traditional NFTs that rely on metadata stored off-chain, Ordinals embed the actual file into the blockchain itself, making it immutable.
Key Benefits:
- Permanence: Once inscribed, the file exists on the blockchain forever.
- True Ownership: Collectors and artists alike can verify and prove authenticity.
- Censorship Resistance: No centralised platform can remove or control access to the content.
However, the challenge remains file size and cost. Since Bitcoin blocks have a limit of 4MB, large files can be expensive to inscribe. Innovations in compression and optimisation are making this more accessible to artists over time.
Streaming & Monetisation with Bitcoin
Bitcoin’s Value-for-Value (V4V) model is transforming the way music is monetised. Unlike traditional streaming services where artists receive fractions of a penny per stream, V4V allows artists to receive real-time micropayments per second of engagement.
- How it Works:
- Listeners send Satoshis (small units of Bitcoin) directly to artists while streaming music.
- Platforms like Wavlake & Podcasting 2.0 integrate this feature seamlessly.
- Advantages Over Traditional Streaming:
- Direct listener-to-artist payment.
- No intermediaries determining payout structures.
- Instant access to funds without bank delays.
Physical & Digital Sales with Bitcoin
Artists can also use Bitcoin for direct-to-fan physical sales without relying on third-party payment processors like PayPal or Stripe.
- Benefits of Bitcoin Payments for Merch & Vinyls:
- No chargebacks or disputes.
- No third-party delays or processing fees.
- Full control over earnings and transactions.
Real-World Success Stories & Case Studies
Several artists have already found success in the New Music Economy using these tools:
- Violetta Zironi – Sold a single song for 1 Bitcoin (~£75K at the time of writing this), demonstrating the power of scarcity and direct fan engagement.
- Kane Mayfield – Sold 420 digital albums at £140 each, proving independent artists can thrive outside traditional models.
- BryThreeSixty – A Zimbabwean artist who uses Bitcoin to bypass traditional payment bans and reach a global audience.
These case studies highlight the importance of musicians understanding and adopting Bitcoin-powered monetisation methods.
Key Takeaways from Both Sessions
- Self-Sovereignty: Tools like Bitcoin wallets and Lightning enable artists to manage finances independently.
- New Revenue Models: Platforms like Wavlake and Fountain allow direct artist-to-fan transactions.
- Value-for-Value (V4V) & Podcasting 2.0: A sustainable streaming model where listeners support artists directly.
- Censorship Resistance: Bitcoin ensures artists retain control over their work and earnings.
- Ownership & Permanence: Ordinals provide a method to inscribe and verify music ownership directly on Bitcoin.
- Empowering Community: By leveraging decentralised tools, musicians can build stronger, more authentic relationships with fans.
Performance and Showcase
During the evening, patrons were thoroughly entertained by two great and well-known musicians from the London hip-hop scene:
Deekay: Award-winning MC Deekay kicked us off with both amazing vocals and lyrics filled with the spirit of freedom. Deekay took a deep interest in the evening’s topics, performing some tunes that had perfect alignment with the ethos of the space!
Andy Princz: In his first appearance as a solo performer at 2140Music, multi-instrumentalist Andy took to the stage to give us a list of bangers from the past and also from his most recent release. Head nodding, foot tapping, infectious hip-hop storytelling!
Proof-of-work again from our amazing cohorts, providing the vibe for the evening!
What’s Next?
As of 2025, 2140Music has successfully hosted five events and nearly ten educational sessions. This recap is part of our ongoing blog series. You can explore the full series here.
Looking ahead, our next sessions will explore:
- A recap of previous sessions for newcomers and Q&A for community members
- Bitcoin-based ticketing & live performances
- More in-depth looks at NFTs & Ordinals
- Advanced monetisation strategies for independent musicians
Together, we’re shaping a future where artists reclaim their rights, revenues, and relationships with fans. Join us for the next session!
