How RCRDSHP is using NFTs to redefine the relationship between EDM artists and fans – EDM.com
An electronic music revolution is brewing in the offices of the RCRDSHP.
Fortune favors the daring in the weird and wonderful world of EDM, and the ambitions of this platform match the profile. And as electronic music artists shape the NFT landscape as we know it, the RCRDSHP is in a unique position to trigger a paradigm shift at the intersection of music and cryptocurrency.
The music industry is a technological powder keg in 2021, and the EDM community is playing the game. The IMS 2021 Activity Report found that 76% of all musical NFTs were issued by electronic music artists. It’s over $ 50 million.
âI think EDM artists are inherently innovators, explorers, and very tech-savvy,â said Obie Fernandez, Founder and CEO of RCRDSHP. EDM.com. âIt’s part of what makes us who we are. Electronic. It’s just our nature. “
With a workforce and C suite made up of dance music industry veterans, RCRDSHP (pronounced “record store”) is a platform where people can buy and sell digital collectibles. rooted in the culture of electronic music. The company runs digital âpacksâ of content in the form of NFT, which are released as exclusive songs, music videos, visuals, exclusive behind-the-scenes content and other multimedia developed by top artists and brands.
It’s like being a kid in a blockchain-powered candy store.
âOur values ââare the fun and authenticity of music,â said Fernandez, who estimates that 80% of CNRDSHP employees are DJs or electronic musicians. âOne is the community. It’s really intense,â he continued. “To put it mildly, actually. They love meeting our artists, becoming new fans and showcasing those they discover.”
Longtime DJ Fernandez understands the limits of artists when it comes to connecting with their fans. The breakneck pace of short-form content platforms like TikTok has shattered the relationship, leading to a new kind of glass ceiling for musicians who can’t keep up with the Marshmellos on the stage. They have massive fan bases that function like virality machines, propelling them to levels of success – and financial stability – that unannounced musicians just can’t achieve.
So Fernandez launched RCRDSHP in the hopes of offering creators new sources of income as well as a new way of designing fan experiences. Inspired by the electrifying NFT video moments of NBA Top Shot ushering in the crypto era in sports, he set out to develop an ecosystem with a similar approach in the EDM space.
And it seems to be working. In just a few months, the company made over $ 2 million in sales, Fernandez says, and they’ve distributed âa huge amountâ to creators who have dropped NFT packs on the platform.
The RCRDSHP allows artists to directly reward their most avid fans in endless ways. They can stream owners of any NFT exclusive music, fan experiences, video posts, guest list access, and more.
âRCRDSHP appeared on my radar at exactly the right time,â said The Scumfrog, an iconic Dutch DJ and electronic music producer. âI was looking for a way to have a more personal relationship with my audience than what streaming platforms can offer. I made a 65-minute film made up of nine new tracks, made with eight collaborators. particular project (it’s more of a film than an album) I was looking for a platform that could put the best possible spotlight on the project, not only on myself, but also on my collaborators. “
âThe RCRDSHP understood right away what I was doing, and they were very creative and accommodating in winning everyone over on this project, by combining my supporters with theirs,â continued The Scumfrog. âIt is very easy for my crypto-beginner followers to start dabbling in NFTs, as RCRDSHP handles crypto-conversion, making the threshold much more accessible to join. They only need Paypal or a card. credit.”
The advent of fan-owned digital assets has led to a somewhat saturated market in the music industry’s crypto gold rush. So what is the competitive advantage of RCRDSHP?
âWe built a very well connected team in the music industry and among artist circles, and we started to attract big names,â Fernandez explained. “That’s why we have Markus Schulz and Coldharbour Recordings, a whole bunch of house legends like Juan Atkins, Todd Terry, Crystal Waters, Mark Knight and Toolroom Records.”
The company also counts trance music superstar Gareth Emery, Juno Award-winning techno artist Tiga and historic label Iboga Records as partners, among nearly 100 others.
âWhat we’re trying to do is activate a mainstream audience. We believe in the future of fandom,â Fernandez added. âIt’s based on that closer relationship between artists and fans. And at the moment the existing platforms don’t allow that. For me, success means having rabid fans who are crazy about the music that you do. create. Because it moves them. “
Artists have found solace in CPRNHR, which Fernandez says challenges the status quo in a modern music industry that expects too much from its artists to remain relevant.
“It is very difficult to cross borders,” he said. “I think there is a pervasive fear that if you step out of your limits as an artist, your fans will reject you and move on.”
The core of RCRDSHP’s value proposition, however, is that it democratizes emerging technologies for the creator economy. Half of the company’s model is its software, but the other half is anchored in a robust and practical “creative suite” that rigorously educates on NFTs and makes them more accessible to the everyday EDM fan.
The hub allows creators to upload assets and navigate the entire collectibles development and deletion workflow. The RCRDSHP also has a production department that works directly with artists to create compelling content and help them develop visuals, define exclusivity parameters and other obstacles associated with the challenges of activating new ones. fans.
The RCRDSHP is also launching a âcraftingâ branch to help creators flesh out unique packs to give to fans. Fernandez invokes “combination mechanics,” a phrase that relates to a kind of chemical bond where multiple assets consolidate to unlock unique rewards.
A practical example, Fernandez explains, is a record company that drops a song in the form of an NFT and includes its stems. A music producer could own the song and combine it with another RCRDSHP asset, which would unlock the ability to remix the song and upload it directly to the label, which could then consider releasing it. Fernandez says cases like this are just one of hundreds of “mini-games” that CPRNHP has planned.
Ultimately, the objective of the RCRDSHP is to become a major player in the metaverse.
âI think we’ll be the primary musical presence in the metaverse,â Fernandez said. “My particular philosophy of the metaverse is that there is a metaverse – not much. So I think we’ll be one of the major providers of music-related assets in this metaverse. “
You can read more about CPRNHP here.