Blockchain is cutting edge stuff! Today’s Audio MASTERCLASS: Blockchain Just Stole The Music Note with Chima Nwala

[01:28 ] – Chima shares something interesting about himself that most people don’t know

He’s a retired army veteran.

[02:26 ] – Is blockchain the future of the music industry?

Blockchain for artists, music industry professionals, and even those who sell merchandise holds the key to Smart Contracts.

[03:25 ] – What is blockchain?

Blockchain is a way to have digital certificates when computers communicate.

Smart Contracts is when you do contracts between two parties where you have variables that will determine what will happen if a certain transaction takes place.

[04:36 ] – Chima explains what it means to be tokenized and also gives an example

Tokenization is solving a problem and turning that into something that people can participate in

Whenever people listen to music, and you earn royalties, it will trigger a payment using the coin as a payment platform.

You don’t necessarily have to go with traditional record companies to leverage blockchain.

[07:36 ] – Can songs be tweeted for income generation? What are the artists’ opportunities for income generation in the future?

Get a digital wallet to get people comfortable with the whole blockchain idea and how the ledger actually works.

Chima can see a future where artists will completely bypass traditional stores or traditional streaming platforms in terms of having their music or merchandise for sale – and they’ll get paid fast.

[12:01 ] – A timeout to thank our sponsor, Klaviyo and HIMS!

[12:06 ] – What can artists or labels do to take advantage of this new era?

Research companies that are going to enable artists to develop a token or a personal digital wallet.

Find key influencers or local folks around your neighborhood when it comes to launching cryptocurrency.

[14:30 ] – Do royalties matter with blockchain?

Chima doubts that royalties in the blockchain era have reached clarity.

Congress passed an act that will allow home-taping royalties.

[17:06 ] – How can podcasts be integrated into the marketing and promotion mix?

One of the best ways is to release a song as a podcast and have the podcast host do a DJ mix with the songs released.

Get Chima’s book The Secret Sauce Behind Podcasting.

[19:23 ] – Chima’s parting piece of guidance

You have the power to make it happen. Believe in yourself and take action.

Podbum.com – Check out what Chima has going on!