A great read
on crypto + media = cryptomedia by Lex Woorburry. Cryptomedia can be thought of as hypermedia with built-in property rights. Lex explanis: ”The music industry is an early adopter of cryptomedia. The artist RAC worked with Zora to launch $RAC, a token built on Ethereum that he can distribute to his fans. In RAC’s words
: “By rewarding my most loyal fans, we can create a community where tokens unlock access to various perks and exclusive content.”
“Uniquely, fans can’t buy $RAC; they can only earn it. RAC retroactively distributed $RAC to fans based on their past support. He gave 25,000 to past Bandcamp supporters; 25,000 to fans who had bought RAC merch; 200,000 to Patreon supporters.
Fans can now earn $RAC through their ongoing fandom and cash in for exclusive perks: holding $RAC gives fans access to a private Discord server, as well as early access to future merch drops.
It’s easy to imagine $BILLIE or $DRAKE or $BEYONCE coming next. If I’m in the top 1% of Billie Eilish listeners on Spotify, how much $BILLIE is that worth? And does it get me better seats at her concert?”