Following the success of our launch event, 2140Music hosted two in-depth presentations in our Nov 19th session, exploring the tools and technologies shaping the New Music Economy. These sessions provided a hands-on guide to empowering musicians with Bitcoin and blockchain-based solutions. Here’s a recap of the key highlights and takeaways from both presentations.
Presentation 1: Tools for the New Music Economy
Setting the Stage: Why Tools Matter
As the music industry evolves, the tools musicians use are just as critical as their creativity. This session opened by addressing the challenges artists face, such as gatekeeping, lack of transparency, broken royalty distribution systems, and reliance on middlemen like payment processors. These hurdles often leave musicians undercompensated and without control over their work.
2140Music’s focus on Bitcoin-based solutions offers a way forward, empowering musicians to become their own payment processors and creating censorship-resistant tools for direct fan engagement.
Key Highlights
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.
- Practical Steps:
- Attendees setup WOS and Xverse during the session walkthrough sections
Bitcoin Layers: Unlocking Advanced Capabilities
- Lightning Network:
- Facilitates fast, low-cost transactions for micropayments.
- Ideal for direct fan-to-artist interactions.
- Stacks:
- Adds programmability and smart contracts to Bitcoin, enabling applications like NFTs and decentralised apps.
- Exploration of other advanced L2s:
- Attendees were made aware of the multitude of solid Layer 2 projects, including Liquid and Rootstock, Counterparty
Real-World Applications
- Podcasting 2.0:
- Fans can stream payments directly to creators in real-time.
- Example: Tipping for every minute of listening or rewarding fans for engagement.
- Fountain App:
- Allows listeners to earn satoshis for engaging with content.
- Wavlake:
- Enables artists to receive tips and direct payments through the Lightning Network.
- Artists were encouraged to set up an account to try the platform, with some onboarding during the session
Audience Engagement
Attendees asked thoughtful questions, such as:
- Passing Bitcoin to Future Generations:
- Multi-signature solutions like Casa for secure inheritance.
- Protecting Private Keys:
- Practical tips for securing seed phrases and wallet access.
Presentation 2: Advanced Opportunities in the New Music Economy
Leveraging Bitcoin for Long-Term Value
This session delved deeper into how Bitcoin can transform the music industry. As paraphrased by Andreas Antonopoulos, Bitcoin is not just an asset but a decentralised, unstoppable network. It empowers artists to:
- Distribute their work globally without intermediaries.
- Access an audience without fear of censorship or deplatforming.
Real-World Success Stories
Examples highlighted during this session included:
- Kane Mayfield:
- Sold 420 digital albums at an average of $175 each, proving artists can thrive outside traditional platforms.
- Violetta Zironi:
- Auctioned a single song for 1 bitcoin, showcasing the value of exclusivity.
- BryThreeSixty:
- A Zimbabwean artist using Bitcoin to bypass payment processor bans and access a global audience.
New Innovations: Bitcoin and Beyond
- Ordinals and Inscriptions:
- Hosting music and metadata directly on Bitcoin, offering unprecedented control and permanence.
- Decentralised Hosting:
- Artists can use Bitcoin nodes to self-host content, ensuring complete autonomy.
Bridging the Gap
The session also explored how platforms like Nostr, a decentralised social network built on Bitcoin, can help musicians engage directly with their audience. By cutting out intermediaries, artists retain more revenue and foster stronger fan connections.
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 create direct artist-to-fan payment opportunities.
- Censorship Resistance: Bitcoin ensures artists retain control over their work and earnings.
- Empowering Community: By leveraging decentralised tools, musicians can build stronger, more authentic relationships with fans.
Performance and Showcase
In our second edition, our performing musicians got deeply involved with the interactive session, asking questions and taking practical steps to make use of the New Music Economy technology. Attendees were thoroughly entertained throughout the evening by amazing performances from the likes of:
Shadifaaa: Sardinian-born multi-lingual lyricist Shadifaaa popped up with some amazing energetic and thought-provoking hip-hop, getting the crowd on their feet.
MC Sites: Bringing the vibes across waters from the US to the UK, veteran MC Sites came through to bless the spot and had everyone chanting along to his jams.
Grezzer: South London underground street poet Grezzer brought us some super-charged freestyle vibes in his performance, interacting with the crowd and including his environment in classic freestyle emcee style.
As always, many thanks to these amazing talents for turning out to support and be a part of the 2140 movement. Proof-of-work!
What’s Next?
As of 2025, 2140Music has successfully hosted four events and nearly eight educational sessions, creating a robust foundation for artists exploring the New Music Economy. These recaps are part of our ongoing blog series. You can explore the full series here.
Looking ahead, future sessions will dive deeper into topics like NFTs, ordinals, and advanced tools for fan engagement. Together, we’re shaping a future where artists reclaim their rights, revenues, and relationships with fans. Join us as we continue this journey!
